Boris Johnson Tax Calculator - £24,000.00 Salary Example (£24K Salary)

This Salary and Tax Calculator is provided to illustrate how Boris Johnsons planned changes to the higher Rate Income Tax Threshold will affect a £24,000.00 Salary (£24K Salary). The illustration also includes an overview of a current 2019 salary example for £24,000.00 and an salary example for £24,000.00 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.

Boris Johnson tax Calculator
£24,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay19039.8419014.8821074.88
Difference n/a-24.9599999999992035.04
Take Home79.33%79.23%87.81%

You can see a detailed salary overview for each of these calculations below.

About the Boris Johnson Salary Examples

In order to provide a like-for-like salary comparison against our three tax scenarios, we have used the following defaults:

  1. Annual Salary before tax: £24,000.00
  2. The individual is part of a company pension scheme
    1. An Employer Pension Contribution of 5% has been applied
    2. An Employee Pension Contribution of 3% has been applied
  3. A standard tax code has been used
  4. Salary is calculated over a full tax year
  5. There are no salary sacrifice options included
  6. There are no special National Insurance Contibutions rules /exemptions (Employer or Employee)

2019 Salary Example for £24,000.00 (Current)

£24,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income24,000.002,000.001,846.15923.08461.5494.8613.19100.00%
Adjusted Gross Income222,800.001,900.001,753.85876.92438.4690.1212.5395.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8752.08%
Company Pension: Employee1,200.00100.0092.3146.1523.084.740.665.00%
Company Pension: Employer720.0060.0055.3827.6913.852.850.403.00%
Taxable Pay10,300.00858.33792.31396.15198.0840.715.6642.92%
Tax Due [PAYE]2,060.00171.67158.4679.2339.628.141.138.58%
National Insurance1,700.16141.68130.7865.3932.706.720.937.08%
Total Pay Deductions4,960.16413.35381.55190.7895.3919.612.7320.67%
Net Pay19,039.841,586.651,464.60732.30366.1575.2610.4679.33%

Employers NIC Contribution1,955.18162.93150.4075.2037.607.731.078.15%
Salary Package [Cost of Employee]26,675.182,222.932,051.941,025.97512.98105.4414.66111.15%

1 Percentage expressed in relation to Gross Income [£22,800.00].

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2019 Salary Example for £24,000.00 (Planned by Boris Johnson)

£24,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income24,000.002,000.001,846.15923.08461.5494.8613.19100.00%
Adjusted Gross Income222,800.001,900.001,753.85876.92438.4690.1212.5395.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8752.08%
Company Pension: Employee1,200.00100.0092.3146.1523.084.740.665.00%
Company Pension: Employer720.0060.0055.3827.6913.852.850.403.00%
Taxable Pay10,300.00858.33792.31396.15198.0840.715.6642.92%
Tax Due [PAYE]2,060.00171.67158.4679.2339.628.141.138.58%
National Insurance1,725.12143.76132.7066.3533.186.820.957.19%
Total Pay Deductions4,985.12415.43383.47191.7495.8719.702.7420.77%
Net Pay19,014.881,584.571,462.68731.34365.6775.1610.4579.23%

Employers NIC Contribution1,983.89165.32152.6176.3038.157.841.098.27%
Salary Package [Cost of Employee]26,703.892,225.322,054.151,027.07513.54105.5514.67111.27%

1 Percentage expressed in relation to Gross Income [£22,800.00].

2019 Salary Example for £24,000.00 (Suggested by iCalculator)

£24,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income24,000.002,000.001,846.15923.08461.5494.8613.19100.00%
Adjusted Gross Income222,800.001,900.001,753.85876.92438.4690.1212.5395.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.48125.00%
Company Pension: Employee1,200.00100.0092.3146.1523.084.740.665.00%
Company Pension: Employer720.0060.0055.3827.6913.852.850.403.00%
National Insurance1,725.12143.76132.7066.3533.186.820.957.19%
Total Pay Deductions2,925.12243.76225.01112.5056.2511.561.6112.19%
Net Pay21,074.881,756.241,621.14810.57405.2983.3011.5887.81%

Employers NIC Contribution1,983.89165.32152.6176.3038.157.841.098.27%
Salary Package [Cost of Employee]26,703.892,225.322,054.151,027.07513.54105.5514.67111.27%

1 Percentage expressed in relation to Gross Income [£22,800.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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