UK VAT Receipts Rise 6% to £169 Billion in 2023-24

• VAT receipts increased by 6% to 169 billion pounds
• VAT population was 2,178,950 with 238,176 new registrations and 273,768 de-registrations
• Total net VAT liability was 173 billion pounds
• Wholesale and retail sector contributed the most to net VAT liability at 32% or 55 billion pounds
• Businesses with over 10 million pounds in annual turnover paid 75% of total net VAT liability at 130 billion pounds

Source: marcusward.co

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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