The latest HRMC tax receipt figures show that between April 2021 and February 2022 the tax authority collected £150.1bn, which is an increase of £14.8bn from the £135.9bn collected between April 2021 and January 2022.

This is the fifth month in a row which has seen an increase of over £50bn from the 2020-21 period with the figure set to increase even further into the next tax year as VAT rates return to the full 20% for hospitality venues from the reduced rate of 12.5% currently.

Overall tax receipts for April 2021 to February 2022 sat at £659.3bn, which is £132.1bn higher than the same period a year earlier and £61.7bn more than what was raised for the April 2021 to January 2022 period.