The government has recorded its biggest ever tax take at £938.8 billion in the financial year 25-26, up a whopping 9.3% on 24-25.

Breaking that down, receipts from Income Tax, Capital Gains Tax and NICs combined accounted for 59% of annual receipts. Over the last decade, Income Tax, Capital Gains Tax and NICs made up on average 56% of total annual receipts with VAT and business taxes the next largest contributors, contributing an average 20% and 10% of total receipts respectively.

No surprise, Inheritance Tax, Stamp Duty and Capital Gains Tax are all up significantly. Taxation now accounts for around 30% of our GDP, a massive increase in twenty years when it was around 13%. And still, with all this extra money, if you are lucky enough to get a GPs' appointment in two weeks, you will probably damage your car driving through a pothole on the way!

For landlords, the continual tax rises continue to push many out of the market, reducing stock leading to higher and higher rent rises for tenants and more homelessness. 

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