This Salary and Tax Calculator is provided to illustrate how Boris Johnsons planned changes to the higher Rate Income Tax Threshold will affect a £ 12,000.00 Salary (£12K Salary). The illustration also includes an overview of a current 2023 salary example for £ 12,000.00 and an salary example for £ 12,000.00 if the personal allowance were to be increase to £30k (a solution which would affect all tax ayers, not just those who earner over £50k.
What | Current (2019) | Boris £80k Higher Rate Threshold | iCalculator™ £30k Personal Allowance |
---|---|---|---|
Net Pay | 8787.84 | 8762.88 | 8762.88 |
Difference | n/a | -24.959999999999 | -24.959999999999 |
Take Home | 73.23% | 73.02% | 73.02% |
You can see a detailed salary overview for each of these calculations below.
In order to provide a like-for-like salary comparison against our three tax scenarios, we have used the following defaults:
Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
---|---|---|---|---|---|---|---|---|
Gross Income | 12,000.00 | 1,000.00 | 923.08 | 461.54 | 230.77 | 47.43 | 6.59 | 100.00% |
Adjusted Gross Income2 | 11,400.00 | 950.00 | 876.92 | 438.46 | 219.23 | 45.06 | 6.26 | 95.00% |
Company Pension: Employee | 600.00 | 50.00 | 46.15 | 23.08 | 11.54 | 2.37 | 0.33 | 5.00% |
Company Pension: Employer | 360.00 | 30.00 | 27.69 | 13.85 | 6.92 | 1.42 | 0.20 | 3.00% |
Taxable Pay | 11,400.00 | 950.00 | 876.92 | 438.46 | 219.23 | 45.06 | 6.26 | 95.00% |
Tax Due [PAYE] | 2,280.00 | 190.00 | 175.38 | 87.69 | 43.85 | 9.01 | 1.25 | 19.00% |
National Insurance | 332.16 | 27.68 | 25.55 | 12.78 | 6.39 | 1.31 | 0.18 | 2.77% |
Total Pay Deductions | 3,212.16 | 267.68 | 247.09 | 123.54 | 61.77 | 12.70 | 1.76 | 26.77% |
Net Pay | 8,787.84 | 732.32 | 675.99 | 337.99 | 169.00 | 34.73 | 4.83 | 73.23% |
Employers NIC Contribution | 381.98 | 31.83 | 29.38 | 14.69 | 7.35 | 1.51 | 0.21 | 3.18% |
Salary Package [Cost of Employee] | 12,741.98 | 1,061.83 | 980.15 | 490.08 | 245.04 | 50.36 | 7.00 | 106.18% |
1 Percentage expressed in relation to Gross Income [£ 11,400.00].
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Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
---|---|---|---|---|---|---|---|---|
Gross Income | 12,000.00 | 1,000.00 | 923.08 | 461.54 | 230.77 | 47.43 | 6.59 | 100.00% |
Adjusted Gross Income2 | 11,400.00 | 950.00 | 876.92 | 438.46 | 219.23 | 45.06 | 6.26 | 95.00% |
Company Pension: Employee | 600.00 | 50.00 | 46.15 | 23.08 | 11.54 | 2.37 | 0.33 | 5.00% |
Company Pension: Employer | 360.00 | 30.00 | 27.69 | 13.85 | 6.92 | 1.42 | 0.20 | 3.00% |
Taxable Pay | 11,400.00 | 950.00 | 876.92 | 438.46 | 219.23 | 45.06 | 6.26 | 95.00% |
Tax Due [PAYE] | 2,280.00 | 190.00 | 175.38 | 87.69 | 43.85 | 9.01 | 1.25 | 19.00% |
National Insurance | 357.12 | 29.76 | 27.47 | 13.74 | 6.87 | 1.41 | 0.20 | 2.98% |
Total Pay Deductions | 3,237.12 | 269.76 | 249.01 | 124.50 | 62.25 | 12.79 | 1.78 | 26.98% |
Net Pay | 8,762.88 | 730.24 | 674.07 | 337.03 | 168.52 | 34.64 | 4.81 | 73.02% |
Employers NIC Contribution | 410.69 | 34.22 | 31.59 | 15.80 | 7.90 | 1.62 | 0.23 | 3.42% |
Salary Package [Cost of Employee] | 12,770.69 | 1,064.22 | 982.36 | 491.18 | 245.59 | 50.48 | 7.02 | 106.42% |
1 Percentage expressed in relation to Gross Income [£ 11,400.00].
Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
---|---|---|---|---|---|---|---|---|
Gross Income | 12,000.00 | 1,000.00 | 923.08 | 461.54 | 230.77 | 47.43 | 6.59 | 100.00% |
Adjusted Gross Income2 | 11,400.00 | 950.00 | 876.92 | 438.46 | 219.23 | 45.06 | 6.26 | 95.00% |
Company Pension: Employee | 600.00 | 50.00 | 46.15 | 23.08 | 11.54 | 2.37 | 0.33 | 5.00% |
Company Pension: Employer | 360.00 | 30.00 | 27.69 | 13.85 | 6.92 | 1.42 | 0.20 | 3.00% |
Taxable Pay | 11,400.00 | 950.00 | 876.92 | 438.46 | 219.23 | 45.06 | 6.26 | 95.00% |
Tax Due [PAYE] | 2,280.00 | 190.00 | 175.38 | 87.69 | 43.85 | 9.01 | 1.25 | 19.00% |
National Insurance | 357.12 | 29.76 | 27.47 | 13.74 | 6.87 | 1.41 | 0.20 | 2.98% |
Total Pay Deductions | 3,237.12 | 269.76 | 249.01 | 124.50 | 62.25 | 12.79 | 1.78 | 26.98% |
Net Pay | 8,762.88 | 730.24 | 674.07 | 337.03 | 168.52 | 34.64 | 4.81 | 73.02% |
Employers NIC Contribution | 410.69 | 34.22 | 31.59 | 15.80 | 7.90 | 1.62 | 0.23 | 3.42% |
Salary Package [Cost of Employee] | 12,770.69 | 1,064.22 | 982.36 | 491.18 | 245.59 | 50.48 | 7.02 | 106.42% |
1 Percentage expressed in relation to Gross Income [£ 11,400.00].
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
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