Quilter says UK fiscal drag lifts April-July PAYE, NICs take to £173.2 billion

Reuters2026/08/21 10:33

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

Quilter flagged rising UK tax receipts ahead of John Healey’s first budget, citing £173.2 billion of PAYE income tax and NICs in April-July.
That total rose £12.5 billion year on year, reinforcing the revenue impact of frozen income tax thresholds through fiscal drag.
Inheritance Tax receipts reached £3.2 billion in April-July, up £0.1 billion, with frozen thresholds drawing more estates into scope.
Quilter urged families to review estate planning, citing pensions becoming subject to inheritance tax from April 2027.
Capital Gains Tax receipts for July were £194 million, up £29 million, with investors urged to use tax-efficient wrappers such as ISAs.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Quilter plc published the original content used to generate this news brief on August 21, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Quilter says UK fiscal drag lifts April-July PAYE, NICs take to £173.2 billion

You may also like

Crypto prices