HMRC raise more tax

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HMRC raises billions more in taxHMRC data shows it raised £19.4bn more between April and December 2018 than it did during the same period the previous year. This was largely down to a £12.8bn increase in the amount of inheritance tax, National Insurance and capital gains tax paid by Britons, while VAT receipts rose by £4bn and income from corporation tax grew by £1.7bn. Increases in income tax allowances were announced in the Budget but Sarah Coles of Hargreaves Lansdown warned: "For basic-rate taxpayers, savings from income tax cuts will easily be eaten up by higher council tax, VAT, fuel and alcohol duty costs”. She said local authorities could raise council tax by 3%, plus a further 1.5% for policing. Some councils can add 2% for social care. The average band D property will cost £107 more.

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