Headline Taxes vs. Stealth Taxes

Figures from HMRC show that for the 10 years 2004-15 to 2014-15 while headline PAYE income tax receipts went up from £108.7bil to £138.9 bil there was a much bigger rise in less obvious, one-off or stealth taxes. National insurance (NI) went up over those 10 years from £78.1bil to £109.2 bil. VAT has now outpaced NI going up from £73.0 bil to £111.2 bil in the 2014-15 year just ended. Stamp duty (SDLT) was £6.3 bil back in 2004-15 and is now £10.7 bil. Air passenger tax (APT) up from £0.9 bil to £3.2 bil. And so it goes on. Both main British parties have been slick at introducing new stealth taxes and fiddling with the detailed rules. So while the rate of income tax or NI grabs the headlines the real tax-take quietly goes up and up.

Eamon McNicholas
Tax Barrister, Accountant
http://www.EamonMcNicholas.com

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
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