38000 Divided By 300 HMRC collected 857 8 billion in taxes in 2024 to 2025 an increase of 3 5 from the year before During 2024 to 2025 receipts from Income Tax Capital Gains Tax and NICs
Five years ago that is to say in the 2020 21 tax year there were around 4 4 million people paying the higher rate of income tax Around 433 000 of these also paid the Most of the revenue from the top one per cent comes from a cohort of high earning employees who pay the often quoted top rate of 45 per cent income tax plus two per cent
38000 Divided By 300
38000 Divided By 300
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With fewer higher earners who currently pay a large portion of income tax the burden will be passed to those further down the income scale who can least afford it This note In 2023 24 UK government raised around 1 099 billion 1 1 trillion in receipts income from taxes and other sources This is equivalent to around 40 of the size of the UK
This analysis shows that in recent years earnings growth has been highest at the bottom of the distribution 5 As shown in Chart 1 annual growth in the bottom decile has UK tax revenue is forecast to reach its highest ever level One major trend since the 1970s has been a shift towards VAT Note Total government revenue includes all tax revenue and non
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Britain is relying on just 1 13 million top rate taxpayers to raise 124bn in income tax this year The concentration of revenue on high earners raises concerns over Labour s tax Over 500 000 more people now pay 45 income tax Find out what s driving the increase and how to reduce your tax exposure with expert advice from RJP LLP
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https://www.gov.uk › government › statistics › hmrc-tax...
HMRC collected 857 8 billion in taxes in 2024 to 2025 an increase of 3 5 from the year before During 2024 to 2025 receipts from Income Tax Capital Gains Tax and NICs
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Five years ago that is to say in the 2020 21 tax year there were around 4 4 million people paying the higher rate of income tax Around 433 000 of these also paid the
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