VAT receipts hit record £133bn
The amount of VAT collected in the last year has risen by 5.3% to a record £133bn driven by the wholesale and retail sectors, despite widespread VAT evasion.
The latest 2018/19 figures from HMRC show revenue up £7bn from £126bn in the comparable period 2017/18. Over the last decade VAT take has risen 52% from £87.6bn i 2008/09.
Read more at the Accountancy Daily.