Analysis of the latest HMRC figures shows tax take for the first month of the new tax year continues to soar. HMRC collected £87.3bn in taxes in the month of April, up a mighty £6.3bn from April 2025, but public spending continues to escalate and rising bond costs for the government add to deficit concerns, not to mention underlying worries about future tax grabs at the autumn Budget.

Income tax, capital gains tax (CGT) and national insurance contribution (NIC) receipts for April 2026 were £52bn, up £4.4bn on the same period last year as the pain of years long freezing of the tax free threshold really begins to generate substantial revenue for the government.

Breaking the numbers down, income tax PAYE was up from £30.7bn to £32.3bn, while employee NICs was up by £160m to £4.64bn from £4.48bn a year ago. Of course, it was employers hit the hardest on the NI front, with Class 1 NICs up nearly £3bn year on year, to £15.55bn from £12.66bn.  

HMRC