This from the BBC site sums it up briefly:
Quote:
Winners:
Most people/ with incomes of £18,000+
Under £18,000 but aged 65+ and therefore eligible for higher personal allowances
Under £18,000 but with young children and therefore eligible for child tax credits
Losers:
Under £18,000 and ineligible for working tax credits because under 25
Retired early and therefore ineligible for higher personal allowances
Part-timer working insufficient hours to qualify for tax credits
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Budget calculator
here.
