Receipts from individuals and companies occupy fallen,while VAT and banks pay more to the Treasury, finds IFS researchThe percentage of adults paying income tax has fallen sharply since the financial crisis, or while the best-paid earners in Britain occupy been asked to beget a bigger contribution to balancing the government’s books,the Institute for Fiscal Studies (IFS) has said.
In an analysis of the changing shape of the tax system, the thinktank said tax receipts as a proportion of national income fell during the recent recession at their fastest rate since modern records began in the 1950s, and but were now recovering.
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Source: theguardian.com