![]() ![]() "Funding for health and social care services will be maintained at the same level as if the levy were in place", the page continued. As a result of both measures, working people will be £500 better off, on average, next year." ![]() To check how much tax you pay, use our free Income Tax Calculator and see the current 2021/2022 tax rates for updated figures. In this video, Martin explains how tax works and how much people pay. Martin Lewis is a registered trade mark belonging to Martin S Lewis. Martin Lewis is a registered trade mark belonging to Martin S Lewis. Income tax calculator Tax rates 2023/24 Free tax code calculator Marriage tax allowance Benefits calculator Tax-free childcare Inheritance tax planning. "The move to reverse April National Insurance increase follows the rise in National Insurance thresholds in July. This is all paid for by the state with money collected through taxes. Income tax calculator Tax rates 2023/24 Free tax code calculator Marriage tax allowance. founder Martin Lewis has shared his instant reaction and explained what the changes mean for you, and we've added more detail on them below. Your council tax bill is made up of several different amounts of money that go to different organisations. Working people across the UK will begin receiving the tax cut in their payslips this month, with all expected to have started receiving it by February." The Chancellor Jeremy Hunt has today announced a range of new tax, benefits and savings measures in his Autumn Statement. The GOV.UK website says about the national insurance change: "The tax cut was announced by the government on 22 September, as part of the reversal of the Health and Social Care Levy. Martin announced the good news on his 'time for a quickie.or five' segment on his show last night (Image: ITV) For example those on a £20,000 yearly salary will save £93 a year, £30,000 will save £219 and those on £40,000 will save £343. You can also input the percentage you put into your pension to get a more accurate calculation.ĭepending on how much you earn will work out how much you will save. Martin has an Income Tax calculator on his Money Saving Expert website, which will calculate how much tax you will pay and your take-home wage this month after the changes over the weekend. Read More: The best early Black Friday sales on air fryers including Ninja and Tefal Income tax calculator Tax rates 2023/24 Free tax code calculator Marriage tax allowance Benefits calculator Tax-free childcare Inheritance tax planning. Most National Insurance rates dropped to 12% (1.25% points)." On the show, Martin said: "Expect more in your take-home pay this month. This is because of the 1.25 percent rise on national insurance which was introduced by Rishi Sunak when he was chancellor in April, which was then reversed by Kwasi Kwarteng and the mini-budget last month/Ĭhanges came into place from November 6. On his Martin Lewis Money Show Live, the Money Saving Expert said that everybody's take-home pay will go up anywhere between £30 to £780 depending on your earnings. Finance guru Martin Lewis revealed the good news that working people will be getting a boost in this month's payslip. The MoneySavingExpert app puts the power of MSE and Martin Lewis in your pocket, with on-the-go access to all MSEs guides, news and blogs. ![]()
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