HMRC tax receipts are up £80bn on pre-pandemic level

Government statistics issued yesterday show that HMRC tax receipts are £80bn higher than they were before the pandemic.

Growth in tax returns was fuelled in part by a 35% year-on-year surge in the UK’s capital gain tax bill, which is up from £10.8bn to a record £14.6bn in the past year. This is owed largely to a hike in tax in entrepreneurs selling businesses.

HMRC’s yield from capital gains tax has increased sharply in recent years, with the latest total almost double the £8.1bn collected five years ago and more than treble the £4bn collected decade ago.

Read the full article on Property Industry Eye | MARCH 23, 2022 | MARC DA SILVA