Featured explainers
Income tax explained
Income tax is the single most important source of revenue for the UK Treasury. It is forecast to raise around £200 billion in 2021–22 – about a quarter of all government tax receipts.
National Insurance contributions explained
National Insurance contributions (NICs) are the UK’s second-biggest tax, expected to raise almost £150 billion in 2021–22 – about 20% of all tax revenue.
Corporation tax explained
Corporation tax is the fourth biggest source of revenue for the UK Treasury and is forecast to raise around £40 billion in 2021–22.
IFS tax survey
An overview of all UK taxes.