Single, 25
unemployed
2022/23 You receive a Universal Credit payment of £335 a month, which adds up to £4,019 over the year. Financial help with housing costs depends on the property and where it is rented. You will also receive cost of living payments totaling £650.
2023/24 The increase in benefits will be based on inflation in September; however, the government says UC claimants who work less than 15 hours a week must show they are trying to get more work or risk having their payments cut.
single
He earns £34,000
2022/23 He pays £4,284 a year in income tax while his National Insurance (NI) bill is £2,839. This results in a monthly payment package of £2,240 per month.
Nov. 2022 The cancellation of the 1.25 percentage point rise in NI contributions means you will be £22 a month better off.
2023/24 The cut in the basic rate of income tax from 20% to 19% will reduce your tax bill by £214 while the change in NI adds £268, leaving you £482 better off.
Single, one child
He earns £6,916 working part-time (14 hours a week) on the minimum wage
2022/23 His low income means he does not qualify for Income Tax or National Insurance as he takes home £576 a month. This is topped up with a Universal Credit payment of £623 plus Child Benefit of £87. You will also receive the £650 cost of living payment.
2023/24 You will get a pay rise when the minimum wage rises (currently £9.50 an hour). However, he currently works less than 15 hours a week, so he will be under pressure to do more or have his UC payments cut.
Unmarried couple in their 30s, no children
First income £55,000, second income £35,000
2022/23 Our couple have a combined annual income tax and national insurance bill of £22,034. This works out to a combined monthly income of £5,664.
Nov. 2022 The change in NI means they will have an improvement of £68 a month.
2023/24 The income tax changes are worth £601, while the reduction in their NI bill is £811, leaving them £1,412 better off.
Unmarried couple, two children, one of whom has a disability
First income £23,000, second income £5,928
2022/23 Our couple have a combined income tax and national insurance bill of £3,466. Her monthly pay of £2,122 is supplemented by a Universal Credit payment of £623 plus £145 in child benefit. They will also receive £800 in cost of living payments.
Nov 2022 NI change is £11; however, they will only go up by £5 per month because their UC will adjust.
2023/24 The basic tax rate reduction is worth £104 a year, while the NI change adds up to £130. However, his annual UC will be reduced by around £120 due to his higher salary. The result is an extra £114 in your pocket.
Married couple, three children
An income of £57,000
2022/23 The breadwinner pays £9,976 a year in income tax and £5,214 in national insurance. This translates to a monthly income of £3,484 plus £61 in child benefit.
Nov 2022 The NI change means £46 a month has gone up.
2023/24 Income tax changes are worth £364, while the NI cut is worth a total of £555, meaning they are £919 better off.
Married couple, two children
Both unemployed, one is a full time carer
2022/23 The wife is the full-time carer for her disabled husband, so they receive a monthly universal credit payment of £1,583 plus £145 child benefit. They are entitled to cost of living payments worth £800.
2023/24 Their finances will benefit from increased benefits, but otherwise there was nothing in this budget to help them. The government has not said whether cost-of-living payments will be repeated next year.
married couple
First income £200,000, second income £100,000
2022/23 Our high flyers pay £102,388 a year in income tax and £16,473 in National Insurance. This works out to a combined monthly income of £15,095.
Nov 2022 NI change means £286 per month up.
2023/24 Our rich couple is much richer. Income tax changes, including the removal of the top rate of 45% on earnings above £150,000, is worth £3,254 while the NI reduction is worth £3,436, meaning they are better off £6,690.
Single pensioner
Basic state pension
2022/23 Your State Pension is £141.85 per week or £567 per month. You also get the Pension Credit top-up worth a further £163. You will also receive £950 towards living costs.
2023/24 Does not benefit from any of the announced tax changes. However, the state pension is subject to the ‘triple lock’, meaning it will rise by the higher of three possible figures: inflation (in September), average earnings or 2.5% in April.
Married pensioners, both in their 70s
State pension plus private pension of £8,000
2022/23 Their combined pensions result in a monthly income of £1,624. Because of their private pension, they pay £307 a year in income tax. They will receive a pensioner’s cost of living payment of £300.
2023/24 They will benefit from the annual increase in the state pension while the change in personal income tax leaves them £15 better off.