HM Revenue and Customs Income Data

Income from HM Revenue and Customs

The income from HM Revenue and Customs is described briefly in the Departmental Report 2009:

http://www.hmrc.gov.uk/about/dept-ann-rep09.pdf

Revenue collected* 2008-09 (£bn)

1. Income Tax 149.6

2. National Insurance contributions 98.0

3. VAT 78.5

4. Corporation Tax 41.8

5. Hydrocarbon Oils 24.7

6. Alcohols 8.5

7. CGT 8.2

8. Tobacco 7.9

9. Stamp taxes 7.6

10. Other taxes and duties* 10.9

11. The Other taxes and duties figures above, include Tax Credits treated as Negative Taxation and Student Loan Recoveries.

Entitlements paid 2008-09 (£bn)

1. Tax Credits 23.7
2. Child Benefit 11.2
3. Child Trust Fund endowments 0.19

Income Tax

Individuals may receive many different types of income but not all kinds of income are taxable.

The main kinds of income on which income tax may be payable are income from employment, self-employed profits from a business, occupational and personal pensions, interest from building societies and banks, dividends on shares, and income from property.

Tax is payable on some social security benefits such as the state retirement pension, bereavement allowance, jobseeker's allowance and incapacity benefit - but not on others such as tax credits or pension credit, or child benefit.

Tax is not payable on income received from certain National Savings products such as National Savings certificates, or from Individual Savings Accounts.

This is quoted from [http://www.hmrc.gov.uk/stats/income_tax/income-tax-intro.pdf|Income Tax Intro]