Tax take down last month but ahead for year to date

The Government’s tax take was down significantly in October, although it was ahead of schedule for the first 10 months of the year.

If the slowdown in tax revenues continues over November it would heap further pressure on the Government ahead of December’s budget.

“The exchequer figures for October are probably the weakest set of figures so far this year. It is typically a quiet month for tax receipts with November being a far more important month in terms of both income tax and corporation tax receipts,” said Peter Vale, a partner at the consultancy firm Grant Thornton.