National Statistics Published on Tax Receipts
HMRC have now published official statistics on Tax receipts and the number of taxpayers in the UK. Overall, total tax receipts by HMRC were £408,496 million in 2009/2010, down some £30,611 million since 2008/2009. Tax receipts peaked at £451,053 million in 2007/2008 before the economic crisis truly began. Total tax receipts are actual receipts of tax (generally on a cash basis) and are net of negative tax credits.
Comparing the total receipts of individual categories in 2009/2010 with the tax year 2007/2008, the most significant falls come from VAT which shows a 12.96% decrease (can be partially explained by the 15% rate for 1 year from January 2009), corporation tax with a fall of 22% and stamp duty receipts which have fallen 44% to £7,093 million in the last tax year. Income tax and CGT fell 7.1% in that period.
The number of taxpayers and registered traders also shows a decline since 2008/2009.
Full details of the statistics can be accessed at:-http://www.hmrc.gov.uk/stats/tax_receipts/menu.htm