PAYE and NICs receipts rise by £12.6bn between April 2024 and February 2025 – HMRC

PAYE Income Tax and NICs receipts for April 2024 to February 2025 totalled £384.9bn, the latest data from HMRC has revealed.

This was £12.6bn higher than the same period last year.

In addition, Self Assessment Income Tax, Capital Gains Tax and NIC receipts for the same period were £62.4bn, up £3.8bn from a year earlier.

Combined receipts for Income Tax, Capital Gains Tax and NICs total £448.0bn – £15.5bn higher than the same period last year.

Gross HMRC Tax and NICs receipts for April 2024 to February 2025 totalled £787.2bn, over £25.5bn higher than the same period last year.

Tax receipts peaked in July and January due to bi-annual Self Assessment deadlines, while PAYE bonus-related receipts drove peaks from January to April.

Changes in National Insurance rates, including increases in 2022 and reductions in 2024, also impacted receipts, with notable decreases from February and May 2024.

January 2025 saw a record-high number of Self Assessment Income Tax receipts.