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PH NEWS

VAT Collected is on the increase

 

HMRC collects various taxes.  Income tax, National Insurance, Corporation tax and VAT to just name the main four.

VAT receipts made up 21% of HMRC's total tax income in 2017/18, according to new research -up from 18% in 2008/09.

The total amount of VAT that is collected annually by HMRC had jumped by 60% from £78bn in 2008-09 to £125bn in 2017-18.

HMRC's total tax take increased to £594bn last year and now stands at a 30-year high.

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