Blog
Timetric: Income Tax and VAT Revenues
8th March 2011
Our latest Timetric chart shows the monthly tax revenues from Income Tax and VAT. Both are highly seasonal - there is a surge in income tax receipts in January because of self assessment payments. But they key is the underlying trend in tax revenues - can you spot what has been happening during the recession (which kicked in during 2008) and in the early stages of the recovery? Our Timetric chart is always updated so it will be interesting to see what happens to the flow of tax income from these two sources as the recovery (we hope) is sustained and in the wake of the rise in the standard rate of VAT to 20%.
Data from Timetric.
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United Kingdom from Timetric
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.