How much tax will you pay from April 2023?

The Chancellor announced a series of tax changes and allowance freezes in his Autumn and Spring budget. We break down what these mean for you ahead of the new tax year.

woman looking at paperwork
(Image credit: © Getty Images)

A series of allowance freezes and tax increases were announced by chancellor Jeremy Hunt back in November as part of his Autumn Budget.

In his Spring Budget, the chancellor announced several further changes as the country struggles with the rising cost of living amid rampant inflation.

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SalaryTax nowTax from April 2023DifferencePercentage increase in tax
£150,000£52,460£53,702£1,2432.3%
£145,000£50,460£51,452£9931.9%
£140,000£48,460£49,202£7431.5%
£135,000£46,460£46,952£4931.0%
£130,000£44,460£44,702£2430.5%
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Tax levelAdditional tax in 2023Additional tax in 2024
Basic rate - 10%£630£930
Basic rate (property) - 18%£1,134£1,674
Higher rate - 20%£1,260£1,860
High rate (property) - 28%£1,764£2,604
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TaxpayerBasic rateHigher rateAdditional rate
Additional tax between 2022/23 and 2023/24£88£338£394
Additional tax between 2022/23 and 2024/25£131£506£590
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Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She has previously worked for MoneyWeek.