Tax data shows record take for self-employed Brits
Key Points
- Self-assessment income tax receipts hit £17.1 billion in July 2026, the highest July on record since 1999
- The total was £1.7 billion up on July 2025 but £0.4 billion below the OBR forecast
- The ONS recommends reading July and August together because delayed payments land in August
- Income-related taxes have raised £108.7 billion in the financial year to July, up 7.7%
- HMRC changed its receipts methodology from August 2026, so comparisons with earlier years need care
Self-assessment income tax receipts reached £17.1 billion in July, the highest July total since monthly records began in 1999.
The figure was £1.7 billion higher than in July 2025 and came in £0.4 billion below the Office for Budget Responsibility forecast. The Office for National Statistics published the estimate on Friday (21 August).
July is one of two months that carry the bulk of self-assessment revenue, alongside January, because payments on account fall due at the end of the month.
The ONS cautions that some July payments arrive late and land in the August figures instead, and recommends treating July and August receipts together when comparing one year with the next.
Income-related taxes across the whole tax system brought in £38.6 billion in July, up £2.2 billion or 5.9% on a year earlier.
Total central government taxes reached £81.4 billion, a rise of 5.2%. Total central government receipts, which include National Insurance contributions, came to £104.3 billion for the month.
Across the financial year to July, income-related taxes have raised £108.7 billion, £7.8 billion or 7.7% more than in the same four months last year. Value Added Tax receipts stand at £73.9 billion and Corporation Tax at £36.7 billion, up 7.6% and 13.0% respectively.
Year-on-year comparisons carry an extra caveat this month. From August 2026, HM Revenue and Customs has started matching income tax, National Insurance and VAT receipts to its own accounting data every month rather than annually, and has applied the change back to April 2026.
