Are you a winner or a loser in Darling's first Budget? - News - Evening Standard
       

Are you a winner or a loser in Darling's first Budget?



The Chancellor's budget will affect us all


There were no surprises yesterday, but tax and National Insurance changes put in train a year ago take effect in April.

These tables show that most people are slightly better off as a result of direct tax changes. However, as we show elsewhere, drinkers, drivers, air travellers and smokers will all pay more for their pleasures.

Everyone should read TABLE 1, which shows how your tax allowances have changed. Then go to whichever of the following seven tables best fits your circumstances. These show how your income is affected by Income Tax, National Insurance, and Child and Working Tax Credits.

Read TABLE 2 if you are married (or co-habiting) with children and just one partner is working. If you have just one child, your income will be slightly less than we have shown. If you have three or more, it will be slightly greater.

Read TABLE 3 if you are married (or co-habiting) with children and both partners working. It shows overall household income assuming income is split 4:1. Families with more children will receive slightly more and those with one child, less.

Read TABLE 4 if you are single with a child. If you have more than one child, you will receive more.

Read TABLE 5 if you are a self-employed couple with two children and working as a partnership. This assumes profits are shared equally. Those with one child will be worse off, those with more children, better off.

Read TABLE 6 if you are either single or a married couple with only one partner working and no children or your children are grown-up.

Read TABLE 7 if you are a married pensioner and you are the one receiving the married couples allowance, available to those before April 6, 1935. Those under 75, receive slightly less.

Read TABLE 8 if you are any other pensioner. Those aged 75 or over should receive slightly higher allowances until income reaches £29,290 in 2008/09.

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