Boris Johnson Tax Calculator - £ 31,000.00 Salary Example (£31K 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 £ 31,000.00 Salary (£31K Salary). The illustration also includes an overview of a current 2023 salary example for £ 31,000.00 and an salary example for £ 31,000.00 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.

£ 31,000.00 Salary Comparison

What	Current (2019)	Boris £80k Higher Rate Threshold	iCalculator™ £30k Personal Allowance
Net Pay	21061.84	21036.88	19146.88
Difference	n/a	-24.959999999999	-1914.96
Take Home	67.94%	67.86%	61.76%

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: £ 31,000.00
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 £ 31,000.00 (Current)

£ 31,000.00 Salary Example 2023/24 Tax Year

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	31,000.00	2,583.33	2,384.62	1,192.31	596.15	122.53	17.03	100.00%
Adjusted Gross Income2	29,450.00	2,454.17	2,265.38	1,132.69	566.35	116.40	16.18	95.00%
Company Pension: Employee	1,550.00	129.17	119.23	59.62	29.81	6.13	0.85	5.00%
Company Pension: Employer	930.00	77.50	71.54	35.77	17.88	3.68	0.51	3.00%
Taxable Pay	29,450.00	2,454.17	2,265.38	1,132.69	566.35	116.40	16.18	95.00%
Tax Due [PAYE]	5,890.00	490.83	453.08	226.54	113.27	23.28	3.24	19.00%
National Insurance	2,498.16	208.18	192.17	96.08	48.04	9.87	1.37	8.06%
Total Pay Deductions	9,938.16	828.18	764.47	382.24	191.12	39.28	5.46	32.06%
Net Pay	21,061.84	1,755.15	1,620.14	810.07	405.04	83.25	11.57	67.94%
Employers NIC Contribution	2,872.88	239.41	220.99	110.50	55.25	11.36	1.58	9.27%
Salary Package [Cost of Employee]	34,802.88	2,900.24	2,677.14	1,338.57	669.29	137.56	19.12	112.27%

¹ Percentage expressed in relation to Gross Income [£ 29,450.00].

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2023 Salary Example for £ 31,000.00 (Planned by Boris Johnson)

£ 31,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	31,000.00	2,583.33	2,384.62	1,192.31	596.15	122.53	17.03	100.00%
Adjusted Gross Income2	29,450.00	2,454.17	2,265.38	1,132.69	566.35	116.40	16.18	95.00%
Company Pension: Employee	1,550.00	129.17	119.23	59.62	29.81	6.13	0.85	5.00%
Company Pension: Employer	930.00	77.50	71.54	35.77	17.88	3.68	0.51	3.00%
Taxable Pay	29,450.00	2,454.17	2,265.38	1,132.69	566.35	116.40	16.18	95.00%
Tax Due [PAYE]	5,890.00	490.83	453.08	226.54	113.27	23.28	3.24	19.00%
National Insurance	2,523.12	210.26	194.09	97.04	48.52	9.97	1.39	8.14%
Total Pay Deductions	9,963.12	830.26	766.39	383.20	191.60	39.38	5.47	32.14%
Net Pay	21,036.88	1,753.07	1,618.22	809.11	404.56	83.15	11.56	67.86%
Employers NIC Contribution	2,901.59	241.80	223.20	111.60	55.80	11.47	1.59	9.36%
Salary Package [Cost of Employee]	34,831.59	2,902.63	2,679.35	1,339.68	669.84	137.67	19.14	112.36%

¹ Percentage expressed in relation to Gross Income [£ 29,450.00].

2023 Salary Example for £ 31,000.00 (Suggested by iCalculator)

£ 31,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	31,000.00	2,583.33	2,384.62	1,192.31	596.15	122.53	17.03	100.00%
Adjusted Gross Income2	29,450.00	2,454.17	2,265.38	1,132.69	566.35	116.40	16.18	95.00%
Company Pension: Employee	1,550.00	129.17	119.23	59.62	29.81	6.13	0.85	5.00%
Company Pension: Employer	930.00	77.50	71.54	35.77	17.88	3.68	0.51	3.00%
Taxable Pay	29,450.00	2,454.17	2,265.38	1,132.69	566.35	116.40	16.18	95.00%
Tax Due [PAYE]	7,780.00	648.33	598.46	299.23	149.62	30.75	4.27	25.10%
National Insurance	2,523.12	210.26	194.09	97.04	48.52	9.97	1.39	8.14%
Total Pay Deductions	11,853.12	987.76	911.78	455.89	227.94	46.85	6.51	38.24%
Net Pay	19,146.88	1,595.57	1,472.84	736.42	368.21	75.68	10.52	61.76%
Employers NIC Contribution	2,901.59	241.80	223.20	111.60	55.80	11.47	1.59	9.36%
Salary Package [Cost of Employee]	34,831.59	2,902.63	2,679.35	1,339.68	669.84	137.67	19.14	112.36%

¹ Percentage expressed in relation to Gross Income [£ 29,450.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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