47881_Budget_2015_Web_Accessible

Table C.3: Current Receipts: OBR forecast£ billionOutturnForecast2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20Income tax (gross of tax credits) 1 157.7 162.6 170.5 182.0 192.7 202.8 216.5of which: Pay as you earn 135.5 138.6 143.9 153.6 163.7 173.5 185.9Self assessment 20.9 23.4 26.2 29.3 30.3 31.1 32.4National insurance contributions 107.3 108.7 113.2 123.9 129.2 135.4 142.7Value added tax 106.5 110.8 114.3 117.7 121.4 125.9 131.1Corporation tax 2 40.3 42.4 43.0 43.6 44.6 45.6 46.6of which: Onshore 36.7 40.3 42.3 42.9 44.0 44.8 46.0Offshore 3.6 2.1 0.7 0.7 0.7 0.8 0.7Corporation tax credits 3 -1.0 -0.9 -0.9 -0.9 -1.0 -1.0 -1.0Petroleum revenue tax 1.1 0.5 0.0 -0.1 0.0 0.0 0.0Fuel duties 26.9 27.2 27.0 27.2 27.6 28.2 28.8Business rates 26.8 27.3 28.0 29.0 29.5 30.7 32.0Council tax 27.5 27.9 28.3 28.8 29.5 30.2 31.1VAT refunds 13.8 13.9 13.9 13.2 12.7 12.7 13.4Capital gains tax 3.9 5.7 6.5 7.3 8.0 8.8 9.8Inheritance tax 3.4 3.8 4.2 4.6 5.1 5.7 6.4Stamp duty land tax 5 9.4 10.9 10.4 11.8 13.8 16.0 18.0Stamp taxes on shares 3.1 3.0 3.3 3.4 3.5 3.6 3.9Tobacco duties 9.6 9.4 9.1 9.0 9.1 9.2 9.3Spirits duties 2.9 3.2 3.2 3.3 3.5 3.6 3.7Wine duties 3.7 3.9 3.9 4.1 4.4 4.6 4.9Beer and cider duties 3.7 3.7 3.4 3.4 3.6 3.6 3.6Air passenger duty 3.0 3.2 3.1 3.2 3.4 3.5 3.7Insurance premium tax 3.0 3.0 3.0 3.1 3.1 3.2 3.2Climate change levy 1.2 1.7 2.0 2.0 1.8 1.7 1.6Other HMRC taxes 5,6 6.5 6.5 6.8 6.6 6.9 7.1 7.3Vehicle excise duties 6.1 6.1 5.8 5.6 5.5 5.3 5.1Bank levy 2.3 2.8 3.6 3.8 3.7 3.7 3.7Licence fee receipts 3.1 3.1 3.1 3.1 3.1 3.2 3.3Environmental levies 3.1 4.8 5.9 6.8 7.3 8.7 9.4EU ETS auction receipts 0.4 0.3 0.3 0.3 0.4 0.4 0.6Scottish taxes 6 0.0 0.0 0.5 0.6 0.7 0.8 0.9Diverted profits tax 0.0 0.0 0.0 0.3 0.4 0.3 0.4Other taxes 7.3 7.2 6.5 6.1 6.0 5.9 6.0National Accounts taxes 582.6 602.4 622.1 652.7 679.4 709.5 746.2Less own resources contribution to EU -2.9 -2.9 -2.6 -2.2 -2.3 -2.4 -2.6Interest and dividends 5.9 6.4 6.7 7.5 9.2 10.7 11.9Gross operating surplus 36.7 38.2 39.6 41.4 43.2 45.1 47.2Other receipts 1.8 2.9 1.5 1.5 1.6 1.6 1.6Current receipts 624.1 646.9 667.4 700.9 731.2 764.5 804.3Memo: UK oil and gas revenues 7 4.7 2.6 0.7 0.6 0.7 0.8 0.71Includes PAYE, self assessment, tax on savings income and other minor components.2National Accounts measure, gross of reduced liability tax credits.3Includes reduced liability company tax credits.4Consists of landfill tax, aggregates levy, betting and gaming duties and customs duties and levies.5Forecasts for SDLT, landfill tax and aggregates levy are for England, Wales and Northern Ireland.6Consists of Scottish LBTT, landfill tax and aggregates levy but not the Scottish rate of income tax.7Consists of offshore corporation tax and petroleum revenue tax.110 Budget 2015