Context
HMRC has published a summary of its tax receipts, National Insurance contributions (NICs), and expenditure for the UK. The details include a ‘monthly’ bulletin, an ‘annual’ bulletin, and a statistics table which includes annual totals of Insurance Premium Tax (IPT) receipts for the tax years 2006/07 through to 2025/26.
Key points to note and next actions
- HMRC noted £88m in IPT for March 2026, bringing the full-year total to a record high of £9.04bn for the 2025/26 tax year.
- The latest annual IPT figure exceeded the previous year’s receipts of £8.8bn by £157m.
- IPT receipts have almost tripled since 2015/16 (£3.3bn) and almost quadrupled since 2006/07 (£2.3bn).