Tax calculator: How Jeremy Hunt’s Budget will affect your finances
Will you be better or worse off from Jeremy Hunt’s 2023 Spring Budget?
Tax experts Blick Rothenberg have created a tax calculator (below) to help people estimate how their tax bill could change after today’s announcements.
Use the tool below to find out. Just enter your details and click the arrows to navigate through all the criteria.
The tax calculator does not store personal data.
The headlines from today’s Budget included an extension to the Energy Price Guarantee, the scrapping of the tax-free pension lifetime allowance limit, extending the alcohol duty freeze until 1 August, free childcare for children under the age of three and Universal Credit reforms.
Mr Hunt also revealed the UK’s economy was now not expected to slump into recesiion on 2023.
The Chancellor also said inflation would fall from 10.7 per cent in the final quarter of last year to 2.9 per cent by the end of 2023.
But Labour leader Sir Keir Starmer said the Budget was “dressing up stagnation as stability“, claiming it put the country “on a path of managed decline”.