This document provides an overview of VAT statistics and covers; VAT receipts in the UK (including home and import VAT). It also contains statistics and analysis on the VAT business population and registrations.
The Headlines
- total VAT receipts in the financial year 2023 to 2024 increased by 6% to £169 billion compared to £160 billion in 2022 to 2023
- the VAT population in 2023 to 2024 was 2,178,950, with 238,176 new registrations and 273,768 de-registrations in-year
- total net home VAT liability in 2023 to 2024 was £173 billion
- the wholesale and retail sector was the largest contributor to net VAT liability (32%) with a total of £55 billion
- businesses with an annual turnover of greater than £10 million paid 75% of total net VAT liability (£130 billion)