Tax receipts for the 2022-23 tax year totalled £786.6bn, up from £715.3bn, which was £71.1bn (9.9%) higher than the same period last year.

Receipts from PAYE income tax and NICs for tax year 2022-23 were £378.2bn, which was £40.2bn higher than in the same period a year earlier.

Tax receipts from income tax, capital gains tax (CGT) and National Insurance contributions (NICs) alone hit £47bn in March, £7.6bn higher than a year ago.

Income tax take totalled £20.2bn, down from £20.8bn in February 2023, which is always a higher figure due to year end self assessment payments. When compared with the previous year, income tax accounted for £19bn in March 2022.

Overall receipts for business taxes for the 2022/23 tax year hit £84.9bn, an increase of £17.5bn compared with the same period a year earlier.