Coverage: United Kingdom HM Revenue and Customs KAI Data Policy and Coordination Theme: The Economy Released: 22 nd January 2014 Next Release: 21 st February 2014 Frequency of release: Monthly (15 th working day each month except if it falls on a Monday, in which case it would fall on the 16 th working day) HMRC TAX & NIC RECEIPTS Monthly and annual historical record Media contact: HMRC Press Office (Individuals) 03000 585020 (Business) 03000 585028 Out of hours: 07860 359544 Statistical contacts: Karen Mason Tel: 03000 586203 karen.mason@hmrc.gsi.gov.uk KAI Data, Policy & Coordination HM Revenue and Customs 100 Parliament Street London SW1A 2BQ Website: http://www.hmrc.gov.uk/statistics/taxreceipts.htm KAI Knowledge, Analysis & Intelligence
HM Revenue and Customs Tax and NICs receipts 1. Introduction 2. Methodology and Data Quality 3. National Statistics dataset 4. Commentary on Receipts 5. Future Publication Dates
Introduction HMRC collected 470bn in taxes in 2012-13. The table below show the total percentage contribution of each tax to the total HMRC receipts in the relevant year. Over the last decade IT, CGT & NICs (Income tax, Capital Gains Tax and National Insurance Contributions) have made up on average 55 per cent of total receipts. VAT (Value Added Tax) and Corporation Tax (CT) are the next biggest, contributing an average 19 per cent and 9 per cent of total receipts respectively. The proportion for total IT, CGT & NICs receipts account for around 54 per cent of total receipts in 2012-13, the same as in 2011-12 following a peak in 2008-09 and 2009-10 of 58 per cent. VAT receipts peaked in 2011-12 at 21 percent and remained at that level in 2012-13. Receipts from CT and Hydrocarbon Oils have broadly remained steady over the last decade. Contribution by tax to total HMRC receipts 2001 2013 (%) Year IT, CGT & NICs VAT Corporation Tax Hydrocarbon oils Stamp Taxes Tobacco duties Alcohol duties Other Total HMRC receipts ( m) 2001-02 54 19 10 7 2 2 2 3 321,064 2002-03 54 20 9 7 2 2 2 3 323,712 2003-04 55 20 8 7 2 2 2 3 343,632 2004-05 55 20 9 6 2 2 2 3 371,045 2005-06 55 18 11 6 3 2 2 4 397,929 2006-07 55 18 10 6 3 2 2 3 423,674 2007-08 56 18 10 6 3 2 2 3 451,063 2008-09 58 18 10 6 2 2 2 4 439,103 2009-10 58 17 9 6 2 2 2 3 408,509 2010-11 55 19 9 6 2 2 2 4 447,159 2011-12 54 21 9 6 2 2 2 4 466,634 2012-13 54 21 9 6 2 2 2 4 469,777 Average contribution 2001-2013 55 19 9 6 2 2 2 4
Methodology and Data Quality Methodology HMRC accounts form the basis of these statistics. For some revenue streams adjustments are made to the figures to ensure the definitions align with EuroStat requirements. Adjustments are made to the following taxes: Income tax - negative tax credits, i.e. the amount of credit treated as a tax deductions, are deducted from figures obtained from the accounts. National Insurance Contributions - adjustments are made to the accounts for amounts paid out in pension contributions and statutory sick/maternity/paternity pay recoveries. Corporation tax - adjustments are made to include payable company tax credits. For all other taxes the definitions used in the accounts align with EuroStat requirements so no adjustments are necessary. Data quality The HMRC accounts which are audited by the National Audit Office (NAO) form the basis of these statistics. The HMRC accounts are published on an accruals basis and differ from these, which are on a cash basis. At the end of each year the statistics are reviewed against the audited annual accounts and adjustments are made to bring the statistics in line with the cash based account. Payovers to the consolidated fund compared with total receipts. The consolidated fund is essentially a general bank account for the Government. The total paid over to the consolidated fund is the value received by HMRC. Total receipts are the amount recorded on HMRC accounting systems. The two figures are different due to varying methods of payment and the speed at which HMRC systems are updated. Total HMRC Receipts includes payable tax credits, and all payments into the Consolidated Fund and all payovers of NICs including those of Northern Ireland.
National Statistics dataset HM Revenue and Customs receipts This dataset forms the basis of both the cash and accrued receipts in the public sector finances - https://www.gov.uk/government/publications/public-sector-finances-bulletin HM Revenue and Customs receipts Amounts: million Amounts: million Year Total Paid Over 1 Total HMRC receipts 2,3,9 Total Of which: Of which: Income PAYE SA Income Tax 4 Income Tax Tax Capital Gains Tax Tax Credits (Neg) NICs VAT Total Of which Corporation offshore 6 Tax 5 Bank payroll tax Petroleum Revenue Tax Fuel duties IHT 7 Shares Stamp Duty Land Tax Annual Tax on Tobacco Enveloped duties Dwellings Spirits Beer duties duties Wines duties Cider duties Betting & Gaming Air Passenger Duty Insurance Landfill Tax Premium Tax Climate Change Levy Aggregates Swiss Misc Levy Capital Tax Customs Duties Child and Working Tax Credits of which: Negative tax Of which: Payment of entitlement Child Benefit Payments 8 MIZX BKMR LISB BKLO MDYL ABLP EYOO ACCD JT2R ACCJ ACDD ACCH BKST BKSU ACDE ACDF ACDG ACDH ACDI ACDJ ACDP ACDO DOLC LSNS MDUP ADET MDYL MDYN 1999-00 293,803 93,910 79,187 14,432 2,122 56,354 56,779 34,322 853 22,515 2,047 3,711 3,184 5,684 1,804 2,813 1,657 155 1,514 882 1,423 430-24 2,043 2000-01 315,537 105,177 88,950 15,273 3,236 60,614 58,622 32,421 1,517 22,623 2,221 4,477 3,684 7,648 1,842 2,850 1,814 158 1,510 948 1,707 462 0 2,097 2001-02 314,959 321,064 107,994 91,937 15,281 3,034 63,168 61,026 32,041 1,310 21,916 2,357 2,852 4,132 7,754 1,919 2,899 1,982 155 1,439 806 1,861 502 555-1 2,042 2002-03 317,174 323,712 109,506 94,243 16,059 1,596 64,553 63,451 29,268 958 22,147 2,375 2,538 5,011 8,054 2,273 2,935 1,936 153 1,292 816 2,138 541 829 247 2 1,907 2003-04 331,133 343,632 117,917 101,389 15,772 2,225-3,948 72,457 69,075 28,077 1,179 22,786 2,521 2,559 4,986 8,091 2,362 3,044 2,006 153 1,347 791 2,294 607 832 339-8 1,941 13,361 3,948 9,411 9,425 2004-05 355,917 371,045 127,294 108,699 17,141 2,282-4,373 78,098 73,026 33,641 1,284 23,313 2,929 2,715 6,251 8,100 2,385 3,101 2,233 157 1,421 864 2,359 672 764 334 0 2,195 15,896 4,373 11,523 9,593 2005-06 382,067 397,929 134,916 113,894 18,077 3,042-4,437 85,522 72,856 41,829 2,016 23,438 3,277 3,465 7,454 7,959 2,309 3,076 2,308 168 1,421 905 2,343 733 744 326 1 2,258 17,332 4,437 12,895 9,770 2006-07 406,337 423,674 147,712 124,799 20,306 3,830-4,402 87,274 77,360 44,308 6,709 2,155 23,585 3,558 3,757 9,635 8,149 2,256 3,072 2,385 200 1,391 971 2,314 804 712 321 1 2,325 18,684 4,402 14,282 10,156 2007-08 431,800 451,063 151,738 126,760 22,443 5,268-4,414 100,410 80,599 46,383 5,728 1,680 24,905 3,834 4,167 9,958 8,094 2,374 3,067 2,641 220 1,481 1,994 2,306 877 688 339 0 2,456 20,030 4,414 15,617 10,603 2008-09 416,512 439,103 153,442 128,470 22,531 7,852-5,586 96,882 78,439 43,077 9,826 2,567 24,615 2,848 3,203 4,796 8,219 2,358 3,127 2,741 244 1,474 1,862 2,281 954 716 334 0 2,659 24,098 5,586 18,513 11,262 2009-10 382,331 408,509 144,881 122,584 21,708 2,491-5,600 95,517 70,160 35,805 4,998 923 26,197 2,396 3,017 4,886 8,813 2,570 3,182 2,949 311 1,439 1,856 2,259 842 695 275 0 2,646 27,601 5,600 22,001 11,824 2010-11 419,580 447,159 153,491 132,263 22,108 3,601-5,542 96,548 83,502 42,121 6,864 3,416 1,458 27,256 2,723 2,971 5,961 9,144 2,675 3,296 3,101 324 1,533 2,155 2,400 1,065 674 288 0 2,998 28,879 5,542 23,338 12,160 2011-12 437,594 466,634 150,939 132,189 20,334 4,337-4,712 101,617 98,292 43,763 9,218-2 2,032 26,800 2,913 2,794 6,125 9,551 2,889 3,463 3,356 329 1,633 2,607 2,941 1,090 676 290 0 0 2,912 29,830 4,712 25,118 12,177 2012-13 437,372 469,777 152,030 132,433 20,550 3,927-2,984 102,037 100,572 41,047 4,793 0 1,737 26,571 3,119 2,234 6,907 9,681 2,931 3,426 3,537 326 1,680 2,791 3,021 1,092 635 265 342 0 2,854 29,888 2,984 26,904 12,167 Apr-10 43,631 45,749 15,679 15,578 97 4-408 9,285 9,465 5,207-0 -4 2,378 216 265 464 1,331 330 300 311 36 120 156 108 181 61 31 0 232 2,178 408 1,770 932 May-10 26,282 28,254 9,905 10,191 8 3-438 7,450 5,463 744-0 57 2,233 207 282 386 234 116 285 212 21 139 106 436 44 141 20 0 212 2,265 438 1,826 1,012 Jun-10 24,786 27,265 10,126 10,175-8 4-507 6,135 4,957 1,222-0 48 2,245 246 251 485 645 170 380 255 42 124 190 2 3 1 15 0 226 2,591 507 2,084 1,014 Jul-10 45,103 48,490 16,960 10,931 5,898 3-531 8,499 8,447 8,515-0 30 2,304 283 276 647 1,275 217 273 274 38 142 180 121 185 53 42 0 256 2,711 531 2,180 1,052 Aug-10 35,405 36,618 11,534 10,060 1,503 3-467 7,897 7,527 1,069-3,107 44 2,306 218 294 616 386 170 250 259 28 159 214 500 105 115 24 0 258 2,400 467 1,933 1,093 Sep-10 27,061 29,821 10,286 10,185 39 5-461 7,554 4,591 1,710 2,359 295 560 2,307 216 163 525 731 196 288 237 27 99 201 2 9 1 14 0 265 2,398 461 1,937 1,024 Oct-10 40,076 41,955 10,644 10,158-25 10-440 7,542 8,689 9,298-0 82 2,367 206 268 527 1,035 219 254 261 23 129 183 120 182 40 41 0 274 2,297 440 1,856 993 Nov-10 29,608 31,669 9,395 10,273-74 11-463 7,595 7,623 1,260-0 115 2,381 210 256 519 581 306 267 291 24 155 185 485 87 93 23 0 274 2,423 463 1,960 960 Dec-10 27,335 30,148 10,204 10,123 305 4-507 7,510 5,000 2,289 2,294-50 123 2,243 233 282 539 677 363 295 343 22 106 188 0 0 3 14 0 267 2,689 507 2,181 1,061 Jan-11 52,321 56,309 21,996 10,873 10,860 2,696-412 9,101 8,803 8,270-30 86 2,141 196 163 444 1,012 238 306 255 28 132 196 114 202 41 36 0 235 2,149 412 1,738 955 Feb-11 38,809 39,198 14,867 11,499 3,152 786-431 8,832 8,384 1,141-43 64 2,203 231 217 374 797 137 182 203 16 123 91 510 30 120 17 0 262 2,259 431 1,828 981 Mar-11 29,163 31,682 11,894 12,216 352 72-475 9,148 4,551 1,396 2,211-9 253 2,148 259 253 435 440 213 217 203 20 106 267 4 37 5 12 0 236 2,521 475 2,045 1,082 Apr-11 44,592 46,148 13,440 13,709 85 7-380 9,916 10,608 5,594-1 124 2,384 221 267 552 1,492 322 345 314 32 118 182 123 192 26 32 0 236 2,403 380 2,024 1,075 May-11 29,847 32,640 10,570 10,548-61 5-395 7,990 7,999 1,094-0 83 2,157 241 244 415 185 128 287 230 28 174 216 531 58 161 22 0 216 2,439 395 2,043 1,037 Jun-11 25,047 27,749 10,426 10,584-72 9-437 6,377 5,474 657-0 99 2,269 257 218 377 651 180 302 271 31 104 227 1 7 4 15 0 231 2,660 437 2,224 938 Jul-11 47,037 50,789 17,069 11,238 5,104 6-438 9,484 9,960 8,603-0 63 2,254 254 289 573 805 228 293 270 31 156 226 150 188 45 41 0 239 2,667 438 2,229 1,040 Aug-11 34,904 36,633 12,220 10,803 1,723 6-424 8,476 8,552 1,278-8 70 2,187 278 241 571 808 194 290 268 29 186 274 621 102 120 23 0 254 2,599 424 2,175 1,038 Sep-11 28,561 30,674 9,545 10,283 86 2-379 7,901 5,470 1,761 3,398 0 577 2,311 275 252 581 878 225 317 291 30 109 255 12 12 3 14 0 230 2,390 379 2,011 991 Oct-11 42,782 44,470 10,224 10,421-24 2-390 8,017 10,560 9,756 - -9 114 2,305 235 244 566 935 235 278 278 27 134 233 157 215 40 42 0 272 2,417 390 2,027 932 Nov-11 32,548 35,635 10,671 10,378-64 6-390 7,983 9,465 1,071 - -3 117 2,302 240 201 548 1,037 310 285 321 28 154 234 605 52 103 21 0 274 2,453 390 2,064 1,058 Dec-11 28,818 31,699 10,540 10,157 441 4-420 7,808 5,381 2,786 2,913 0 125 2,262 216 233 572 478 402 320 404 29 106 177 3 19 2 13 0 240 2,657 420 2,238 1,155 Jan-12 56,559 60,168 21,929 11,112 10,184 3,324-358 9,693 10,343 9,511-0 67 2,100 223 140 461 855 231 313 259 23 167 223 149 194 46 39 0 235 2,258 358 1,900 900 Feb-12 37,279 38,168 13,112 11,291 2,650 868-383 9,000 8,796 1,060-0 72 2,197 253 208 431 668 154 193 215 18 122 179 576 34 122 17 0 255 2,409 383 2,026 973 Mar-12 29,620 31,860 11,192 11,666 281 97-320 8,972 5,684 592 2,907 0 521 2,070 219 257 478 760 281 240 236 23 105 180 14 17 3 11 0 230 2,478 320 2,158 1,040 Apr-12 44,065 46,549 14,148 14,179 19 11-233 9,798 10,232 5,177-0 150 2,386 237 204 479 1,818 352 386 381 36 147 213 133 186 54 33 0 0 220 2,378 233 2,145 943 May-12 30,304 33,041 10,166 10,912-103 4-284 8,335 8,363 1,244-0 127 2,119 262 75 534 136 115 238 217 22 154 223 574 45 139 18 0 0 216 2,881 284 2,598 1,180 Jun-12 25,760 28,595 9,956 10,264-67 3-247 6,536 5,873 1,137-0 53 2,247 256 213 509 600 202 336 284 35 105 231 8 11 2 12 0 0 231 2,401 247 2,154 949 Jul-12 46,840 50,429 17,464 11,290 6,146 4-284 9,699 10,058 7,386-0 101 2,212 289 189 666 759 202 286 259 28 163 246 157 219 55 39 0 0 231 2,766 284 2,481 1,042 Aug-12 33,976 36,699 11,443 10,648 977 4-269 8,287 9,047 1,208-0 108 2,237 337 218 683 1,054 184 287 291 31 188 284 627 57 108 19 0 0 268 2,666 269 2,397 1,059 Sep-12 28,435 30,682 9,794 10,318 28 2-222 7,887 5,420 1,774 1,707 0 533 2,260 236 166 588 680 228 308 282 31 118 272 16 38 2 12 0 0 261 2,220 222 1,998 987 Oct-12 41,068 43,706 11,030 10,772-12 9-250 8,259 10,248 8,171-0 126 2,220 283 174 624 979 222 251 261 23 127 246 189 184 44 37 0 0 252 2,527 250 2,276 1,009 Nov-12 31,900 33,771 9,265 10,301-67 4-239 7,890 8,756 1,304-0 141 2,324 257 231 611 769 365 289 355 27 164 260 561 60 82 19 0 0 278 2,418 239 2,179 996 Dec-12 30,404 32,753 10,596 10,204 409 4-250 7,876 5,803 2,795 1,626 0 107 2,331 238 188 591 622 430 318 427 29 124 195 12 68 2 14 0 0 234 2,532 250 2,282 1,027 Jan-13 57,229 61,983 23,578 11,103 10,685 2,971-233 9,926 11,210 8,233-0 75 2,008 222 159 623 1,052 217 293 291 24 147 237 163 153 48 36 342 0 209 2,351 233 2,117 1,016 Feb-13 36,473 38,912 13,588 11,018 2,347 820-230 8,751 9,129 1,352-0 115 2,155 164 145 502 566 151 205 236 20 150 119 562 66 97 16 0 0 232 2,302 230 2,072 895 Mar-13 30,918 32,656 11,002 11,426 189 90-241 8,793 6,434 1,265 1,460 0 101 2,072 338 271 496 648 263 230 252 21 95 263 20 6 3 11 0 0 225 2,446 241 2,205 1,064 Apr-13* 44,262 46,998 14,804 14,090 52 2-211 9,798 10,177 5,023-0 77 2,258 313 222 660-1,725 387 283 370 33 161 242 171 198 57 30 0 0 217 2,394 211 2,183 886 May-13* 32,327 35,702 11,501 11,723-132 3-236 9,030 8,263 1,297-0 91 2,267 297 323 646-201 125 267 229 24 212 217 544 53 117 18 0 0 213 2,655 236 2,419 1,003 Jun-13* 29,133 31,904 10,434 10,548-79 3-223 8,447 6,505 1,299-0 45 2,319 308 225 560-560 192 310 287 33 112 227 11 13 2 12 0 0 224 2,450 223 2,227 968 Jul-13* 49,066 52,730 18,154 11,512 6,640 3-267 10,197 10,254 7,559-0 -1 2,187 343 304 886-724 206 271 276 30 226 289 212 183 161 36 258 0 238 2,932 267 2,665 989 Aug-13* 35,213 36,758 11,132 10,542 871 2-216 8,157 9,192 1,297-0 80 2,317 270 207 803-880 211 319 323 40 206 302 568 98 135 26 147 0 263 2,412 216 2,196 1,010 Sep-13* 30,177 33,074 10,494 10,557 12 3-210 8,069 6,259 2,068 1,373 0 410 2,260 255 191 817 2 822 228 285 310 34 125 308 8 43 4 14 0 0 274 2,348 210 2,139 861 Oct-13* 42,906 45,696 11,242 10,869-77 3-225 8,396 11,553 7,780-0 98 2,226 316 312 852 76 964 237 255 287 22 198 273 216 168 94 40 35 0 279 2,539 225 2,313 1,034 Nov-13* 32,906 35,636 10,276 10,454-81 2-200 8,037 9,056 1,237-0 84 2,347 274 249 781 6 858 391 286 378 28 191 265 532 89 162 21 10 0 278 2,275 200 2,075 943 Dec-13* 31,091 33,888 10,866 10,580 414 8-261 8,170 5,756 3,037 1,296 0 121 2,282 263 256 960 8 530 419 298 455 30 137 216 21 39 10 14 8 0 246 2,729 261 2,468 965 1 Comprises of payments into the Consolidated Fund and all payovers of NICs excluding those of Northern Ireland. Updated January 2014 2 Total HMRC Receipts includes payable tax credits, and all payments into the Consolidated Fund and all payovers of NICs including those of Northern Ireland. 3 Consistent with the OBR defintiion published in the supplementary table 2.8 i.e. on a cash basis. 4 Income tax excludes capital gains tax and is gross of any tax credits treated as tax deductions (negative). Also includes other smaller elements of income tax. 5 Gross of tax credits that offset tax liabilities and includes Bank Levy. See table 11.1a for an annual Bank Levy total (due to be updated on the 10th August). 6 The majority of UK Oil & Gas companies payments are due in three instalments, (Jul, Oct and Jan): receipts are reported in a similar pattern following each instalment. 7 Includes non cash receipts 8 From April 2011, the Child Benefit series has been revised to ensure consistency with HMRC Resource Accounts. 9 Total of columns D, G to K, and M to AE * Provisional There is an excel version of this table also available on our website
Commentary on Receipts The following pages include commentary for the main taxes on the total receipts over the last five years and as a proportion of nominal GDP and also the year to date receipts compared against the same period last year. For your area of interest, select and click on any of the links below. Income tax (IT), Capital gains tax (CGT) & National insurance contributions (NICs) Value added tax (VAT) Corporation tax (CT) receipts Stamp tax receipts Hydrocarbon oil tax receipts Tobacco tax receipts Alcohol tax receipts If you wish to see more statistics on your area of interest there are also links at the bottom of each page which will take you to that area on our website. Or if you wish to view all of HMRC taxes areas, click here to go to the main menu. Our publications are mainly used for media commentary, policy development and research. A recent survey was completed on our publications, which can be accessed via the link below. http://www.hmrc.gov.uk/statistics/receipts/survey-results.pdf Archived data can be found here: http://www.hmrc.gov.uk/statistics/receipts.htm
Income tax (IT), Capital gains tax (CGT) & National insurance contributions (NICs) The graph below shows IT, CGT & NICs cash revenue and the percentage of GDP over the last 5 years. Receipts in 2012-13 are slightly higher than in 2008-09. The fall in 2009-10 was due to the economic slowdown with receipts falling by 6 per cent. Receipts as a proportion of GDP stood at 16.4 per cent in 2012-13 compared to 17.8 per cent in 2008-09, this fall can be mostly attributed to the reduction in economic activity. bn 30 IT, CGT & NIC Receipts Cash Revenue Percentage of GDP % 2 25 15.0 20 15 1 10 5.0 5 2008-09 2009-10 2010-11 2011-12 2012-13 Monthly receipts in the current and four previous years are shown below. The peaks in July and January reflect the Biannual due dates for self-assessment (31st Jan, 31st Jul). The slightly higher months (Jan to Apr) reflect PAYE bonus related receipts, particularly from the financial sector. Receipts for April to December 2013 are 5.1 per cent higher when compared to the same period last year. This is due to a combination of higher PAYE IT & NIC1 receipts and, to a lesser extent, lower repayments. Receipts were also boosted by a decline in personal pension rebates, which were abolished from 2012-13. m 37,500 35,000 32,500 30,000 27,500 25,000 22,500 20,000 17,500 IT, CGT & NICs year on year comparison 2009-10 2010-11 2011-12 2012-13 2013-14 15,000 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar For more statistics about income tax receipts and liabilities (on an annual basis) click here to go to the income tax and personal incomes section of our website.
Value added tax (VAT) The graph below shows VAT cash revenue and the percentage of GDP over the last 5 years. Receipts are now at a peak of 100.6 billion up from 70.2bn in 2009-10. The fall in 2009-10 and then the subsequent upturn can be explained by the reduction in the standard rate of VAT to 15 per cent in December 2008 then increasing to 17.5 per cent in January 2010, and to 20 per cent in January 2011. Receipts as a percentage of nominal GDP have increased from 5 per cent in 2009-10 to 6.5 per cent in 2011-12 reflecting changes in the VAT rate. bn 12 VAT Receipts Cash Revenue Percentage of GDP % 7.0 10 8 6 4 2 6.0 5.0 4.0 3.0 2.0 1.0 2008-09 2009-10 2010-11 2011-12 2012-13 Monthly receipts in the current and four previous years are shown below. Most VAT receipts are paid quarterly hence the large figures in particular months. Many traders opt to pay in April, July, October and January (Stagger 1) as it corresponds with the end of the financial and calendar year. This includes traders from the oil, gas and mining sector, so stagger 1 receipts will be exaggerated when the oil price is high. Receipts for April to December 2013 are 4.4 per cent higher than last year, due in particular to higher receipts in September and October. m 12,000 11,000 VAT Receipts year on year comparison 2009-10 2010-11 2011-12 2012-13 2013-14 10,000 9,000 8,000 7,000 6,000 5,000 4,000 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar For more information on VAT receipts, click here to go to the indirect taxes section of our website.
Corporation tax (CT) and Bank Levy receipts The graph below shows CT cash revenue and the proportion of GDP over the last 5 years. From 2011-12 onwards the CT figures include Bank Levy receipts. Prior to this and considering CT alone, receipts fell in 2009-10 reflecting a decline in company profits resulting from the economic slowdown, particularly in the financial sector. Receipts then increased in 2010-11, remained stable in 2011-12 and then saw a decrease in 2012-13. The growth in financial sector receipts in 2010-11 was reversed in 2011-12, partly due to worsening economic conditions in the Eurozone, among other factors. Revenues from the UK Oil & Gas sector increased in 2011-12 due to higher oil prices and an increase in the supplementary charge to 32%, but have fallen in 2012-13 mainly due to lower production. The main rate of CT fell from 28% in 2010-11 to 26% in 2011-12, 24% in 2012-13 and 23% in 2013-14, which will have some effect on CT receipts. bn 5 45.0 4 35.0 3 25.0 2 15.0 1 5.0 CT Receipts Cash Revenue Percentage of GDP 2008-09 2009-10 2010-11 2011-12 2012-13 % 3.1 3.0 2.9 2.8 2.7 2.6 2.5 2.4 2.3 2.2 The chart of monthly CT and BL receipts (below) shows the peak months (Apr, Jul, Oct, Jan) are when the majority of large companies with calendar year and financial year accounting periods make their quarterly instalment payments. Small companies must pay their liabilities nine months and one day after the end of their accounting period. Receipts for April to December 2013 are 1.3 per cent higher than in last year. m 10,000 CT and BL Receipts year on year comparison 2009-10 2010-11 2011-12 2012-13 2013-14 8,000 6,000 4,000 2,000 0 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar For more information, click here to go to our CT section on our website.
Stamp taxes (including ATED) Stamp tax receipts come from land, property and shares. The graph below shows stamp tax receipts and the percentage of GDP over the last 5 years. Receipts in 2011-12 remained broadly level from 2010-11, compared to an increase of 13 per cent the previous year (2010-11) which can be attributed to higher prices and volumes of commercial and residential property and a recovery in equity prices. The increase in 2012-13 is largely due to the introduction of the new 7 per cent rate on residential property transactions worth over 2 million. bn 9.4 9.2 9.0 8.8 8.6 8.4 8.2 8.0 7.8 7.6 7.4 7.2 Stamps Receipts Cash Revenue Percentage of GDP 2008-09 2009-10 2010-11 2011-12 2012-13 % 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.5 0.5 The chart below shows the monthly net receipts. Receipts for April to December 2013 are 34.6 per cent higher than last year. Receipts on land and property are 31.8 per cent higher mainly due to the introduction of the 7 per cent rate on residential property transactions worth over 2 million. There has also been a rise in transaction volumes for both residential and commercial properties. Receipts from shares are 38.0 per cent higher than last year, partly due to an unusually high repayment last year, and partly due to increases in volumes and prices over the year. The total also includes receipts from Annual Tax on Enveloped Dwellings, which was introduced on 1 April 2013. m 1,250 Stamps Receipts year on year comparison 2009-10 2010-11 2011-12 2013-14 2012-13 1,000 750 500 250 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar For more information, click here to go to our Stamps taxes section on our website.
Hydrocarbon oil duty receipts The graph below shows hydrocarbon oil cash revenue and the percentage of GDP over the last 5 years. Receipts decreased by 2 per cent between 2010-11 and 2011-12, compared to an annual increase of 4 per cent in the previous year. There was a reduction in receipts during 2008-09, largely due to higher pump prices. In 2010-11 receipts increased largely due to duty rate increases and a reduction in pump prices earlier in the period leading to increased consumption. This was followed by higher pump prices again in 2011-12, which led to the observed decrease in receipts. Over the past decade there has been a downward trend in petrol consumption and upward trend in diesel consumption driven by diesel s relative fuel efficiency and improvement in diesel cars. Receipts continued to decrease in 2012-13 by 0.9 per cent. Hydrocarbon Oil Receipts Cash Revenue Percentage of GDP bn 3 % 2.0 25.0 2 1.5 15.0 1.0 1 5.0 0.5 2008-09 2009-10 2010-11 2011-12 2012-13 Monthly receipts are relatively flat throughout the year as shown below; the troughs in receipts at the beginning of each calendar year are likely to be a result of bad weather conditions. Receipts for April to December 2013 are 0.6 per cent higher than last year. m 2,500 Hydrocarbon Oil Receipts year on year comparison 2009-10 2010-11 2011-12 2012-13 2013-14 2,250 2,000 1,750 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar For more information on road fuel receipts, click here to go to the indirect taxes section of our website.
Tobacco duty receipts The graph below shows tobacco receipts and the percentage of GDP over the last 5 years, with receipts showing a continued increase. Duty rate rises are likely to have contributed to the increase in both 2011-12 and 2012-13 receipts. A decrease in exchange rates might have also played a part as UK duty paid tobacco becomes relatively more favourable compared to cross-border shopped tobacco, as well as duty rate rises. bn 1 Tobacco Receipts Cash Revenue Percentage of GDP % 0.63 9.5 9.0 0.62 0.61 0.60 8.5 0.59 8.0 7.5 0.58 0.57 0.56 7.0 2008-09 2009-10 2010-11 2011-12 2012-13 0.55 In the graph below, the peaks are due to forestalling whereby a manufacturer will bulk release products for consumption prior to anticipated duty increases at Budget, often followed by a trough in the month or two afterwards. There can also be similar patterns of high clearances one month followed by low clearances the next month when manufacturers increase prices. Cigarettes are subject to anti-forestalling restrictions in advance of a Budget, as explained in HMRC Notice 85C. Receipts for April to December 2013 are lower than last year by 2.0 per cent. m Tobacco Receipts year on year comparison 2,000 2009-10 2010-11 2011-12 2012-13 2013-14 1,500 1,000 500 0 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar For more information on Tobacco receipts, click here to go to the indirect taxes section of our website.
Alcohol duty receipts The graph below shows alcohol receipts and the percentage of GDP over the last 5 years. Receipts continue to increase in 2012-13 by 1.8 per cent following a larger increase of 6.8 per cent in 2011-12 from 2010-11, which can partly be attributed to duty rate rises in March 2011 and March 2012. In 2010-11 receipts increased by 4.3%, and by 6.4% the year before. Again, duty rate changes explain part of the reason for the increase. bn 12.0 Alcohol Receipts Cash Revenue Percentage of GDP % 0.68 1 0.66 8.0 0.64 6.0 0.62 4.0 0.60 2.0 0.58 2008-09 2009-10 2010-11 2011-12 2012-13 0.56 The chart below highlights peaks in December receipts, suggesting that alcohol is being released for consumption during November in preparation for anticipated high sales over the Christmas period. There can also be forestalling around the time of a duty rate increase (traders will bulk release products for consumption prior to anticipated duty increases at Budget). Receipts for April to December 2013 are 1.7 per cent higher than last year. m 1,250 Alcohol Receipts year on year comparison 2009-10 2010-11 2011-12 2012-13 2013-14 1,000 750 500 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar For more information on Alcohol receipts, click here to go to the indirect taxes section of our website.
Future Publication Dates HM Revenue and Customs Tax and NICs receipts 2014 2015 2016 22 Jan 21 Feb 21 Mar 23 Apr 21 May 20 Jun 22 July 21 Aug 19 Sep 21 Oct 21 Nov 19 Dec 21 Jan 20 Feb 20 Mar 23 Apr 22 May 19 Jun 21 July 21 Aug 22 Sep 21 Oct 20 Nov 22 Dec 22 Jan 19 Feb 22 Mar 21 Apr 24 May 21 Jun 21 Jul 19 Aug 21 Sep 21 Oct 22 Nov 21 Dec
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