Analysis  

What is the Revenue from the Income Tax?

For the year ending in March 2027:
Total UK income tax revenue is forecast to be $460.7 billion.

This page shows the current trends in UK Income Tax revenue.

  Analysis  

UK Income Tax Revenue Since 1900

UK income tax revenue at the start of the 20th century was about 2 percent of GDP but had increased to 3 percent GDP by the start of World War I.

Income tax revenue vaulted to 11 percent of GDP by the end of World War I, and then increased to 13.5 percent GDP by 1921. But in the 1920s the income tax take declined to 8.1 percent GDP by 1927 and then 7 percent in the 1930s.

Income tax revenue exploded in World War II to over 20 percent GDP in 1945 and 1946 before retreating to 16 percent GDP in 1947.

In the 1950s income tax revenue slowly declined as a percent of GDP, to 11.1 percent GDP by 1960, before reversing direction up to 14.5 percent GDP in 1970.

From the 1970s to the 2010s income tax revenue has fluctuated in a band between about 12 percent GDP in recessions and 14 percent at the top of economic expansions.

In 2014 income tax revenue was 11.4 percent GDP. Since then it has increased to 12.2 percent GDP in 2019, and then rapidly increased to 14.6 percent GDP in 2025.

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