Boris Johnson Tax Calculator - £ 32,000.00 Salary Example (£32K 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 £ 32,000.00 Salary (£32K Salary). The illustration also includes an overview of a current 2023 salary example for £ 32,000.00 and an salary example for £ 32,000.00 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.

£ 32,000.00 Salary Comparison

What	Current (2019)	Boris £80k Higher Rate Threshold	iCalculator™ £30k Personal Allowance
Net Pay	21707.84	21682.88	19602.88
Difference	n/a	-24.959999999999	-2104.96
Take Home	67.84%	67.76%	61.26%

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: £ 32,000.00
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 £ 32,000.00 (Current)

£ 32,000.00 Salary Example 2023/24 Tax Year

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	32,000.00	2,666.67	2,461.54	1,230.77	615.38	126.48	17.58	100.00%
Adjusted Gross Income2	30,400.00	2,533.33	2,338.46	1,169.23	584.62	120.16	16.70	95.00%
Company Pension: Employee	1,600.00	133.33	123.08	61.54	30.77	6.32	0.88	5.00%
Company Pension: Employer	960.00	80.00	73.85	36.92	18.46	3.79	0.53	3.00%
Taxable Pay	30,400.00	2,533.33	2,338.46	1,169.23	584.62	120.16	16.70	95.00%
Tax Due [PAYE]	6,080.00	506.67	467.69	233.85	116.92	24.03	3.34	19.00%
National Insurance	2,612.16	217.68	200.94	100.47	50.23	10.32	1.44	8.16%
Total Pay Deductions	10,292.16	857.68	791.70	395.85	197.93	40.68	5.66	32.16%
Net Pay	21,707.84	1,808.99	1,669.83	834.92	417.46	85.80	11.93	67.84%
Employers NIC Contribution	3,003.98	250.33	231.08	115.54	57.77	11.87	1.65	9.39%
Salary Package [Cost of Employee]	35,963.98	2,997.00	2,766.46	1,383.23	691.62	142.15	19.76	112.39%

¹ Percentage expressed in relation to Gross Income [£ 30,400.00].

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2023 Salary Example for £ 32,000.00 (Planned by Boris Johnson)

£ 32,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	32,000.00	2,666.67	2,461.54	1,230.77	615.38	126.48	17.58	100.00%
Adjusted Gross Income2	30,400.00	2,533.33	2,338.46	1,169.23	584.62	120.16	16.70	95.00%
Company Pension: Employee	1,600.00	133.33	123.08	61.54	30.77	6.32	0.88	5.00%
Company Pension: Employer	960.00	80.00	73.85	36.92	18.46	3.79	0.53	3.00%
Taxable Pay	30,400.00	2,533.33	2,338.46	1,169.23	584.62	120.16	16.70	95.00%
Tax Due [PAYE]	6,080.00	506.67	467.69	233.85	116.92	24.03	3.34	19.00%
National Insurance	2,637.12	219.76	202.86	101.43	50.71	10.42	1.45	8.24%
Total Pay Deductions	10,317.12	859.76	793.62	396.81	198.41	40.78	5.67	32.24%
Net Pay	21,682.88	1,806.91	1,667.91	833.96	416.98	85.70	11.91	67.76%
Employers NIC Contribution	3,032.69	252.72	233.28	116.64	58.32	11.99	1.67	9.48%
Salary Package [Cost of Employee]	35,992.69	2,999.39	2,768.67	1,384.33	692.17	142.26	19.78	112.48%

¹ Percentage expressed in relation to Gross Income [£ 30,400.00].

2023 Salary Example for £ 32,000.00 (Suggested by iCalculator)

£ 32,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	32,000.00	2,666.67	2,461.54	1,230.77	615.38	126.48	17.58	100.00%
Adjusted Gross Income2	30,400.00	2,533.33	2,338.46	1,169.23	584.62	120.16	16.70	95.00%
Company Pension: Employee	1,600.00	133.33	123.08	61.54	30.77	6.32	0.88	5.00%
Company Pension: Employer	960.00	80.00	73.85	36.92	18.46	3.79	0.53	3.00%
Taxable Pay	30,400.00	2,533.33	2,338.46	1,169.23	584.62	120.16	16.70	95.00%
Tax Due [PAYE]	8,160.00	680.00	627.69	313.85	156.92	32.25	4.48	25.50%
National Insurance	2,637.12	219.76	202.86	101.43	50.71	10.42	1.45	8.24%
Total Pay Deductions	12,397.12	1,033.09	953.62	476.81	238.41	49.00	6.81	38.74%
Net Pay	19,602.88	1,633.57	1,507.91	753.96	376.98	77.48	10.77	61.26%
Employers NIC Contribution	3,032.69	252.72	233.28	116.64	58.32	11.99	1.67	9.48%
Salary Package [Cost of Employee]	35,992.69	2,999.39	2,768.67	1,384.33	692.17	142.26	19.78	112.48%

¹ Percentage expressed in relation to Gross Income [£ 30,400.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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