Income Tax Comparison Calculator 2022–2026
See exactly how your income tax and National Insurance bill has changed over the last four tax years due to frozen thresholds (fiscal drag), the NI rate cuts in 2024, and other policy changes — on the same salary or adjusted for pay rises.
What is fiscal drag?
Fiscal drag happens when income tax thresholds are frozen while wages rise with inflation. Even if rates stay the same, more of your income falls into higher tax bands. The personal allowance and higher-rate threshold have been frozen at £12,570 and £50,270 since April 2021 — and will remain frozen until 2028. Had they risen with inflation (CPI), the personal allowance would be around £15,000 and the higher-rate threshold around £60,000 by 2025.
The Office for Budget Responsibility has called this the largest sustained tax increase in post-war history, raising billions in additional revenue without a headline rate change.
2022/23: PA £12,570, HRT £50,270, NI employee 13.25%/3.25% · 2023/24: Same thresholds, NI back to 12%/2% (July 2022 reversal), additional rate 45% reinstated · 2024/25: NI cut to 10% (Jan 2024), then 8% (April 2024) · 2025/26: NI 8%/2%, employer NI raised to 15%, thresholds still frozen