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Sunday, November 27, 2022

Tax calculator: How Rishi Sunak’s Spring Statement will affect your finances

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ill you be better or worse off from Rishi Sunak’s 2022 Spring Statement?

The UK is facing the sharpest rise in their cost of living for decades with The Office for National Statistics (ONS) saying prices rose by 6.2% in the 12 months to February – the fastest for 30 years. Official forecasts, from the Office for Budget Responsibility, suggest inflation will average 7.4% this year, peaking at around 9% at the end of the year.

But will we be paying more or less tax to help us deal with the huge surge in the cost of living?

Tax experts Blick Rothenberg have created a below tax calculator 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.

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