The effects of inflation alter the purchasing power of money over time and the salary paid from employment, or income received from other sources, is not immune to this.
We have compiled this tool to allow you to enter any income for a particular tax year and compare this against any other tax year. The calculator works by figuring out what the take home pay would have been in both years and then inflation adjusting the money to match the comparison year.
Try it out below. If the calculator doesn't display click here to refresh the page.
It is interesting to see what the real world differences are when the government announces changes to tax-free allowances, tax bands etc. A quick note - the calculator is designed to compare one income over time rather than two different incomes. Finally, our inflation figures are referenced from government data feeds which are updated daily. We use the CPI index figure for comparisons.
