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The largest forms of tax revenue in the UK are, in order: * Income Tax * National Insurance * VAT * Corporation Tax In terms of amounts received, the first
by xen0 2y ago
The largest forms of tax revenue in the UK are, in order:
* Income Tax
* National Insurance
* VAT
* Corporation Tax
In terms of amounts received, the first is by far the largest
and is overwhelmingly paid by 'higher earners'. The top 50
% pay over 90% of it. The top 1% pay ~30% of it.
National Insurance is less progressive. I would argue that should change but it is what it is.
I can't argue against VAT being regressive, but breakdown of 'amount of VAT paid by income' isn't available.