HMRC receipts tumble in 2009

The taxman has reported it lowest annual receipts since 2004/2005.

HM Revenue & Customs brought in £397bn for 2009/2010, compared to £439bn a year earlier.

VAT and corporation tax receipts tumbled, to £67bn and £33bn respectively, from £78bn and £43bn. Income tax receipts fell to £134bn from £148bn.

The figures were consistent with those announced at the pre-Budget report, said HMRC.

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