Boris Johnson Tax Calculator - £ 27,000.00 Salary Example (£27K 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 £ 27,000.00 Salary (£27K Salary). The illustration also includes an overview of a current 2023 salary example for £ 27,000.00 and an salary example for £ 27,000.00 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.

£ 27,000.00 Salary Comparison

What	Current (2019)	Boris £80k Higher Rate Threshold	iCalculator™ £30k Personal Allowance
Net Pay	18477.84	18452.88	17322.88
Difference	n/a	-24.959999999999	-1154.96
Take Home	68.44%	68.34%	64.16%

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: £ 27,000.00
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)

2023 Salary Example for £ 27,000.00 (Current)

£ 27,000.00 Salary Example 2023/24 Tax Year

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	27,000.00	2,250.00	2,076.92	1,038.46	519.23	106.72	14.84	100.00%
Adjusted Gross Income2	25,650.00	2,137.50	1,973.08	986.54	493.27	101.38	14.09	95.00%
Company Pension: Employee	1,350.00	112.50	103.85	51.92	25.96	5.34	0.74	5.00%
Company Pension: Employer	810.00	67.50	62.31	31.15	15.58	3.20	0.45	3.00%
Taxable Pay	25,650.00	2,137.50	1,973.08	986.54	493.27	101.38	14.09	95.00%
Tax Due [PAYE]	5,130.00	427.50	394.62	197.31	98.65	20.28	2.82	19.00%
National Insurance	2,042.16	170.18	157.09	78.54	39.27	8.07	1.12	7.56%
Total Pay Deductions	8,522.16	710.18	655.55	327.78	163.89	33.68	4.68	31.56%
Net Pay	18,477.84	1,539.82	1,421.37	710.69	355.34	73.03	10.15	68.44%
Employers NIC Contribution	2,348.48	195.71	180.65	90.33	45.16	9.28	1.29	8.70%
Salary Package [Cost of Employee]	30,158.48	2,513.21	2,319.88	1,159.94	579.97	119.20	16.57	111.70%

¹ Percentage expressed in relation to Gross Income [£ 25,650.00].

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2023 Salary Example for £ 27,000.00 (Planned by Boris Johnson)

£ 27,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	27,000.00	2,250.00	2,076.92	1,038.46	519.23	106.72	14.84	100.00%
Adjusted Gross Income2	25,650.00	2,137.50	1,973.08	986.54	493.27	101.38	14.09	95.00%
Company Pension: Employee	1,350.00	112.50	103.85	51.92	25.96	5.34	0.74	5.00%
Company Pension: Employer	810.00	67.50	62.31	31.15	15.58	3.20	0.45	3.00%
Taxable Pay	25,650.00	2,137.50	1,973.08	986.54	493.27	101.38	14.09	95.00%
Tax Due [PAYE]	5,130.00	427.50	394.62	197.31	98.65	20.28	2.82	19.00%
National Insurance	2,067.12	172.26	159.01	79.50	39.75	8.17	1.14	7.66%
Total Pay Deductions	8,547.12	712.26	657.47	328.74	164.37	33.78	4.70	31.66%
Net Pay	18,452.88	1,537.74	1,419.45	709.73	354.86	72.94	10.14	68.34%
Employers NIC Contribution	2,377.19	198.10	182.86	91.43	45.72	9.40	1.31	8.80%
Salary Package [Cost of Employee]	30,187.19	2,515.60	2,322.09	1,161.05	580.52	119.32	16.59	111.80%

¹ Percentage expressed in relation to Gross Income [£ 25,650.00].

2023 Salary Example for £ 27,000.00 (Suggested by iCalculator)

£ 27,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	27,000.00	2,250.00	2,076.92	1,038.46	519.23	106.72	14.84	100.00%
Adjusted Gross Income2	25,650.00	2,137.50	1,973.08	986.54	493.27	101.38	14.09	95.00%
Company Pension: Employee	1,350.00	112.50	103.85	51.92	25.96	5.34	0.74	5.00%
Company Pension: Employer	810.00	67.50	62.31	31.15	15.58	3.20	0.45	3.00%
Taxable Pay	25,650.00	2,137.50	1,973.08	986.54	493.27	101.38	14.09	95.00%
Tax Due [PAYE]	6,260.00	521.67	481.54	240.77	120.38	24.74	3.44	23.19%
National Insurance	2,067.12	172.26	159.01	79.50	39.75	8.17	1.14	7.66%
Total Pay Deductions	9,677.12	806.43	744.39	372.20	186.10	38.25	5.32	35.84%
Net Pay	17,322.88	1,443.57	1,332.53	666.26	333.13	68.47	9.52	64.16%
Employers NIC Contribution	2,377.19	198.10	182.86	91.43	45.72	9.40	1.31	8.80%
Salary Package [Cost of Employee]	30,187.19	2,515.60	2,322.09	1,161.05	580.52	119.32	16.59	111.80%

¹ Percentage expressed in relation to Gross Income [£ 25,650.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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