The latest figures on tax receipts for April to July 2022 totalled £252.6bn, which was £26.7bn higher than the same period last year.

Tax receipts from income tax, capital gains tax (CGT) and national insurance contributions (NIC) hit a total of £17.5bn.

In July total tax receipts hit £73.8bn, up substantially from £56.7bn the previous month. This is the highest figure since January 2022 when the tax take spiked due to self assessment tax receipts and corporation tax payments.

In July, income tax hit £25.2bn, up from £16.2bn in June 2022. When compared with the previous year, income tax accounted for £22bn in July 2021. The sharp rise in revenue resulted from the freezing of personal tax thresholds which has resulted in more taxpayers being pulled into higher rate tax.