This Salary and Tax Calculator is provided to illustrate how Boris Johnsons planned changes to the higher Rate Income Tax Threshold will affect a £ 20,000.00 Salary (£20K Salary). The illustration also includes an overview of a current 2023 salary example for £ 20,000.00 and an salary example for £ 20,000.00 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 | 13955.84 | 13930.88 | 13930.88 |
Difference | n/a | -24.959999999999 | -24.959999999999 |
Take Home | 69.78% | 69.65% | 69.65% |
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 | 20,000.00 | 1,666.67 | 1,538.46 | 769.23 | 384.62 | 79.05 | 10.99 | 100.00% |
Adjusted Gross Income2 | 19,000.00 | 1,583.33 | 1,461.54 | 730.77 | 365.38 | 75.10 | 10.44 | 95.00% |
Company Pension: Employee | 1,000.00 | 83.33 | 76.92 | 38.46 | 19.23 | 3.95 | 0.55 | 5.00% |
Company Pension: Employer | 600.00 | 50.00 | 46.15 | 23.08 | 11.54 | 2.37 | 0.33 | 3.00% |
Taxable Pay | 19,000.00 | 1,583.33 | 1,461.54 | 730.77 | 365.38 | 75.10 | 10.44 | 95.00% |
Tax Due [PAYE] | 3,800.00 | 316.67 | 292.31 | 146.15 | 73.08 | 15.02 | 2.09 | 19.00% |
National Insurance | 1,244.16 | 103.68 | 95.70 | 47.85 | 23.93 | 4.92 | 0.68 | 6.22% |
Total Pay Deductions | 6,044.16 | 503.68 | 464.94 | 232.47 | 116.23 | 23.89 | 3.32 | 30.22% |
Net Pay | 13,955.84 | 1,162.99 | 1,073.53 | 536.76 | 268.38 | 55.16 | 7.67 | 69.78% |
Employers NIC Contribution | 1,430.78 | 119.23 | 110.06 | 55.03 | 27.52 | 5.66 | 0.79 | 7.15% |
Salary Package [Cost of Employee] | 22,030.78 | 1,835.90 | 1,694.68 | 847.34 | 423.67 | 87.08 | 12.10 | 110.15% |
1 Percentage expressed in relation to Gross Income [£ 19,000.00].
Please provide a rating, it takes seconds and helps us to keep this resource free for all to use
Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
---|---|---|---|---|---|---|---|---|
Gross Income | 20,000.00 | 1,666.67 | 1,538.46 | 769.23 | 384.62 | 79.05 | 10.99 | 100.00% |
Adjusted Gross Income2 | 19,000.00 | 1,583.33 | 1,461.54 | 730.77 | 365.38 | 75.10 | 10.44 | 95.00% |
Company Pension: Employee | 1,000.00 | 83.33 | 76.92 | 38.46 | 19.23 | 3.95 | 0.55 | 5.00% |
Company Pension: Employer | 600.00 | 50.00 | 46.15 | 23.08 | 11.54 | 2.37 | 0.33 | 3.00% |
Taxable Pay | 19,000.00 | 1,583.33 | 1,461.54 | 730.77 | 365.38 | 75.10 | 10.44 | 95.00% |
Tax Due [PAYE] | 3,800.00 | 316.67 | 292.31 | 146.15 | 73.08 | 15.02 | 2.09 | 19.00% |
National Insurance | 1,269.12 | 105.76 | 97.62 | 48.81 | 24.41 | 5.02 | 0.70 | 6.35% |
Total Pay Deductions | 6,069.12 | 505.76 | 466.86 | 233.43 | 116.71 | 23.99 | 3.33 | 30.35% |
Net Pay | 13,930.88 | 1,160.91 | 1,071.61 | 535.80 | 267.90 | 55.06 | 7.65 | 69.65% |
Employers NIC Contribution | 1,459.49 | 121.62 | 112.27 | 56.13 | 28.07 | 5.77 | 0.80 | 7.30% |
Salary Package [Cost of Employee] | 22,059.49 | 1,838.29 | 1,696.88 | 848.44 | 424.22 | 87.19 | 12.12 | 110.30% |
1 Percentage expressed in relation to Gross Income [£ 19,000.00].
Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
---|---|---|---|---|---|---|---|---|
Gross Income | 20,000.00 | 1,666.67 | 1,538.46 | 769.23 | 384.62 | 79.05 | 10.99 | 100.00% |
Adjusted Gross Income2 | 19,000.00 | 1,583.33 | 1,461.54 | 730.77 | 365.38 | 75.10 | 10.44 | 95.00% |
Company Pension: Employee | 1,000.00 | 83.33 | 76.92 | 38.46 | 19.23 | 3.95 | 0.55 | 5.00% |
Company Pension: Employer | 600.00 | 50.00 | 46.15 | 23.08 | 11.54 | 2.37 | 0.33 | 3.00% |
Taxable Pay | 19,000.00 | 1,583.33 | 1,461.54 | 730.77 | 365.38 | 75.10 | 10.44 | 95.00% |
Tax Due [PAYE] | 3,800.00 | 316.67 | 292.31 | 146.15 | 73.08 | 15.02 | 2.09 | 19.00% |
National Insurance | 1,269.12 | 105.76 | 97.62 | 48.81 | 24.41 | 5.02 | 0.70 | 6.35% |
Total Pay Deductions | 6,069.12 | 505.76 | 466.86 | 233.43 | 116.71 | 23.99 | 3.33 | 30.35% |
Net Pay | 13,930.88 | 1,160.91 | 1,071.61 | 535.80 | 267.90 | 55.06 | 7.65 | 69.65% |
Employers NIC Contribution | 1,459.49 | 121.62 | 112.27 | 56.13 | 28.07 | 5.77 | 0.80 | 7.30% |
Salary Package [Cost of Employee] | 22,059.49 | 1,838.29 | 1,696.88 | 848.44 | 424.22 | 87.19 | 12.12 | 110.30% |
1 Percentage expressed in relation to Gross Income [£ 19,000.00].
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
Join the Discussion on Facebook, share your thoughts and feelings on Boris' plan.