Using the table below it is clear that the new changes to lower tax rates, removal of bands and reversal of NIC when combined benefit those with higher salaries the most. A person earning £100k will benefit almost ten times as much as someone earning £20k.
Mini-budget tax change salary table:
| Gross Salary | New Take Home Pay | Difference |
|---|---|---|
| £5,000 | £5,000 | £0 |
| £10,000 | £10,000 | £0 |
| £15,000 | £14,246 | + £55 |
| £20,000 | £17,696 | + £167 |
| £25,000 | £21,146 | + £280 |
| £30,000 | £24,596 | + £392 |
| £35,000 | £28,046 | + £505 |
| £40,000 | £31,496 | + £617 |
| £45,000 | £34,946 | + £730 |
| £50,000 | £38,396 | + £842 |
| £55,000 | £41,324 | + £907 |
| £60,000 | £44,224 | + £970 |
| £65,000 | £47,124 | + £1,032 |
| £70,000 | £50,024 | + £1,095 |
| £75,000 | £52,924 | + £1,157 |
| £80,000 | £55,824 | + £1,220 |
| £85,000 | £58,724 | + £1,282 |
| £90,000 | £61,624 | + £1,345 |
| £95,000 | £64,524 | + £1,407 |
| £100,000 | £67,424 | + £1,470 |
| £105,000 | £69,324 | + £1,532 |
| £110,000 | £71,224 | + £1,595 |
| £115,000 | £73,124 | + £1,657 |
| £120,000 | £75,024 | + £1,720 |
| £125,000 | £76,924 | + £1,782 |
| £130,000 | £79,796 | + £1,845 |
| £140,000 | £85,596 | + £1,970 |
| £150,000 | £91,396 | + £2,095 |
| £160,000 | £97,196 | + £2,720 |
| £170,000 | £102,996 | + £3,345 |
| £180,000 | £108,796 | + £3,970 |
| £190,000 | £114,596 | + £4,595 |
| £200,000 | £120,396 | + £5,220 |
| £225,000 | £134,896 | + £6,782 |
| £250,000 | £149,396 | + £8,345 |
You can also try your exact salary using the calculator below:
Tax Cut Calculator
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