Spring sees boost in tax receipts

Total tax receipts for April 2021 to May 2021 were £106.8bn which is £45.4bn higher than in the same period for 2020 according to HMRC's latest statistics. However the department warns that comparisons against receipts in April and May 2020 are not representative as they were heavily affected by the Covid-19 pandemic mainly due to payments deferred and received under the VAT deferral scheme.

Specific income tax National Insurance capital gains tax and apprenticeship levy receipts for April 2021 to May 2021 were £59.9bn an increase of £13.4bn for the equivalent period in 2020.

Paul Haywood-Schiefer a manager at Blick Rothenberg said: ‘It is positive that receipts are beginning to bounce-back and being fuelled by increases in income tax and National Insurance receipts. However there’s a long way to go to regain the billions of aid pledged...