Government
statistics to June 2020 show that tax revenues returned to near normal
levels in June, after significant falls in April and May. Robert Pullen, partner
at Blick Rothenberg said: ‘The total tax receipts for June were down only 15%
on June 2019, compared to around 43% for April and May – a significant
improvement and a step in the right direction’.
Income tax receipts in particular seem to have stabilised,
being only £200m lower compared to June 2019. Figures for VAT are more
difficult to assess, with the VAT deferral scheme applying up to 30 June, while
property transactions remain subdued. Pullen noted that ‘overall the tax take
is still down by 7% on last year but given what everybody has been through this
is not surprising’.
Government
statistics to June 2020 show that tax revenues returned to near normal
levels in June, after significant falls in April and May. Robert Pullen, partner
at Blick Rothenberg said: ‘The total tax receipts for June were down only 15%
on June 2019, compared to around 43% for April and May – a significant
improvement and a step in the right direction’.
Income tax receipts in particular seem to have stabilised,
being only £200m lower compared to June 2019. Figures for VAT are more
difficult to assess, with the VAT deferral scheme applying up to 30 June, while
property transactions remain subdued. Pullen noted that ‘overall the tax take
is still down by 7% on last year but given what everybody has been through this
is not surprising’.
