Boris Johnson Tax Calculator - £29,000.00 Salary Example (£29K 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 £29,000.00 Salary (£29K Salary). The illustration also includes an overview of a current 2019 salary example for £29,000.00 and an salary example for £29,000.00 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
£29,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay22269.8422244.8825254.88
Difference n/a-24.9599999999992985.04
Take Home76.79%76.71%87.09%

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: £29,000.00
  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 £29,000.00 (Current)

£29,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income29,000.002,416.672,230.771,115.38557.69114.6215.93100.00%
Adjusted Gross Income227,550.002,295.832,119.231,059.62529.81108.8915.1495.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8743.10%
Company Pension: Employee1,450.00120.83111.5455.7727.885.730.805.00%
Company Pension: Employer870.0072.5066.9233.4616.733.440.483.00%
Taxable Pay15,050.001,254.171,157.69578.85289.4259.498.2751.90%
Tax Due [PAYE]3,010.00250.83231.54115.7757.8811.901.6510.38%
National Insurance2,270.16189.18174.6387.3143.668.971.257.83%
Total Pay Deductions6,730.16560.85517.70258.85129.4326.603.7023.21%
Net Pay22,269.841,855.821,713.06856.53428.2788.0212.2476.79%

Employers NIC Contribution2,610.68217.56200.82100.4150.2110.321.439.00%
Salary Package [Cost of Employee]32,480.682,706.722,498.511,249.26624.63128.3817.85112.00%

1 Percentage expressed in relation to Gross Income [£27,550.00].

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2019 Salary Example for £29,000.00 (Planned by Boris Johnson)

£29,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income29,000.002,416.672,230.771,115.38557.69114.6215.93100.00%
Adjusted Gross Income227,550.002,295.832,119.231,059.62529.81108.8915.1495.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8743.10%
Company Pension: Employee1,450.00120.83111.5455.7727.885.730.805.00%
Company Pension: Employer870.0072.5066.9233.4616.733.440.483.00%
Taxable Pay15,050.001,254.171,157.69578.85289.4259.498.2751.90%
Tax Due [PAYE]3,010.00250.83231.54115.7757.8811.901.6510.38%
National Insurance2,295.12191.26176.5588.2744.149.071.267.91%
Total Pay Deductions6,755.12562.93519.62259.81129.9126.703.7123.29%
Net Pay22,244.881,853.741,711.14855.57427.7987.9212.2276.71%

Employers NIC Contribution2,639.39219.95203.03101.5150.7610.431.459.10%
Salary Package [Cost of Employee]32,509.392,709.122,500.721,250.36625.18128.5017.86112.10%

1 Percentage expressed in relation to Gross Income [£27,550.00].

2019 Salary Example for £29,000.00 (Suggested by iCalculator)

£29,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income29,000.002,416.672,230.771,115.38557.69114.6215.93100.00%
Adjusted Gross Income227,550.002,295.832,119.231,059.62529.81108.8915.1495.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.48103.45%
Company Pension: Employee1,450.00120.83111.5455.7727.885.730.805.00%
Company Pension: Employer870.0072.5066.9233.4616.733.440.483.00%
National Insurance2,295.12191.26176.5588.2744.149.071.267.91%
Total Pay Deductions3,745.12312.09288.09144.0472.0214.802.0612.91%
Net Pay25,254.882,104.571,942.68971.34485.6799.8213.8887.09%

Employers NIC Contribution2,639.39219.95203.03101.5150.7610.431.459.10%
Salary Package [Cost of Employee]32,509.392,709.122,500.721,250.36625.18128.5017.86112.10%

1 Percentage expressed in relation to Gross Income [£27,550.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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