HMRC receipts on “sin taxes” fall

HMRC’s takings from ‘sin taxes’ have fallen by 35% over the past decade to £24.2billion or 2.8% of its total revenues in 2024/25, vs 4.3% in 2015/16, according to research from UHY Hacker Young, the national accountancy firm. Now just 2.8% of total revenue, the decline reflects consumers reducing their spending on tobacco and alcohol.