United Kingdom - Taxes on income, profits and capital gains (% of total taxes)

Taxes on income, profits and capital gains (% of total taxes) in United Kingdom was 45.78 as of 2019. Its highest value over the past 47 years was 63.04 in 1975, while its lowest value was 45.06 in 2014.

Definition: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

See also:

Year Value
1972 53.55
1973 57.45
1974 60.30
1975 63.04
1976 62.25
1977 59.86
1978 57.99
1979 55.34
1980 52.90
1981 54.24
1982 53.67
1983 54.95
1984 54.45
1985 54.99
1986 53.64
1987 55.41
1988 54.53
1989 56.39
1990 53.19
1991 51.01
1992 49.01
1993 47.62
1994 47.95
1995 48.04
1996 47.32
1997 47.72
1998 49.60
1999 48.83
2000 50.09
2001 50.06
2002 48.46
2003 47.97
2004 49.02
2005 51.22
2006 51.50
2007 51.58
2008 49.19
2009 51.18
2010 49.13
2011 47.61
2012 46.21
2013 45.50
2014 45.06
2015 45.15
2016 45.85
2017 46.06
2018 45.93
2019 45.78

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance