Tax take hits £70.8bn in April

HMRC raked in £70.8bn in total tax collected in April 2023 from £63.4bn the previous month, with inheritance tax (IHT) continuing to rise as a result of frozen allowances and inflation

For the month, the tax authority collected £70.9bn, which was £7.3bn higher than in March 2023, and around £1.8bn higher than in the same period a year earlier.

The latest figures on tax receipts for April 2022 to April 2023 totalled £786.6bn, which was £71bn higher than the same period last year.

Tax receipts from income tax, capital gains tax (CGT) and national insurance contributions (NICs) totalled £40.5bn in April 2023.

Income tax totalled £24.2bn, up from £20.2bn in March 2023. When compared with the previous year, the tax accounted for £22.8bn.

Paul Falvey, tax partner at BDO said: ‘Figures show the amount of income tax collected in April was up by 6% year-on-year, with a notable 9% jump in PAYE income tax receipts reflecting current high employment levels, and the impact of April’s wage rises pulling more people into tax or into higher rate brackets.

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