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Boris Johnson Tax Calculator - £ 38,000.00 Salary Example (£38K 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 £ 38,000.00 Salary (£38K Salary). The illustration also includes an overview of a current 2023 salary example for £ 38,000.00 and an salary example for £ 38,000.00 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.
| What | Current (2019) | Boris £80k Higher Rate Threshold | iCalculator™ £30k Personal Allowance |
|---|---|---|---|
| Net Pay | 25583.84 | 25558.88 | 22338.88 |
| Difference | n/a | -24.959999999999 | -3244.96 |
| Take Home | 67.33% | 67.26% | 58.79% |
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:
- Annual Salary before tax: £ 38,000.00
- The individual is part of a company pension scheme
- An Employer Pension Contribution of 5% has been applied
- An Employee Pension Contribution of 3% has been applied
- A standard tax code has been used
- Salary is calculated over a full tax year
- There are no salary sacrifice options included
- There are no special National Insurance Contibutions rules /exemptions (Employer or Employee)
2023 Salary Example for £ 38,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 38,000.00 | 3,166.67 | 2,923.08 | 1,461.54 | 730.77 | 150.20 | 20.88 | 100.00% |
| Adjusted Gross Income2 | 36,100.00 | 3,008.33 | 2,776.92 | 1,388.46 | 694.23 | 142.69 | 19.84 | 95.00% |
| Company Pension: Employee | 1,900.00 | 158.33 | 146.15 | 73.08 | 36.54 | 7.51 | 1.04 | 5.00% |
| Company Pension: Employer | 1,140.00 | 95.00 | 87.69 | 43.85 | 21.92 | 4.51 | 0.63 | 3.00% |
| Taxable Pay | 36,100.00 | 3,008.33 | 2,776.92 | 1,388.46 | 694.23 | 142.69 | 19.84 | 95.00% |
| Tax Due [PAYE] | 7,220.00 | 601.67 | 555.38 | 277.69 | 138.85 | 28.54 | 3.97 | 19.00% |
| National Insurance | 3,296.16 | 274.68 | 253.55 | 126.78 | 63.39 | 13.03 | 1.81 | 8.67% |
| Total Pay Deductions | 12,416.16 | 1,034.68 | 955.09 | 477.54 | 238.77 | 49.08 | 6.82 | 32.67% |
| Net Pay | 25,583.84 | 2,131.99 | 1,967.99 | 983.99 | 492.00 | 101.12 | 14.06 | 67.33% |
| Employers NIC Contribution | 3,790.58 | 315.88 | 291.58 | 145.79 | 72.90 | 14.98 | 2.08 | 9.98% |
| Salary Package [Cost of Employee] | 42,930.58 | 3,577.55 | 3,302.35 | 1,651.18 | 825.59 | 169.69 | 23.59 | 112.98% |
1 Percentage expressed in relation to Gross Income [£ 36,100.00].
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2023 Salary Example for £ 38,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 38,000.00 | 3,166.67 | 2,923.08 | 1,461.54 | 730.77 | 150.20 | 20.88 | 100.00% |
| Adjusted Gross Income2 | 36,100.00 | 3,008.33 | 2,776.92 | 1,388.46 | 694.23 | 142.69 | 19.84 | 95.00% |
| Company Pension: Employee | 1,900.00 | 158.33 | 146.15 | 73.08 | 36.54 | 7.51 | 1.04 | 5.00% |
| Company Pension: Employer | 1,140.00 | 95.00 | 87.69 | 43.85 | 21.92 | 4.51 | 0.63 | 3.00% |
| Taxable Pay | 36,100.00 | 3,008.33 | 2,776.92 | 1,388.46 | 694.23 | 142.69 | 19.84 | 95.00% |
| Tax Due [PAYE] | 7,220.00 | 601.67 | 555.38 | 277.69 | 138.85 | 28.54 | 3.97 | 19.00% |
| National Insurance | 3,321.12 | 276.76 | 255.47 | 127.74 | 63.87 | 13.13 | 1.82 | 8.74% |
| Total Pay Deductions | 12,441.12 | 1,036.76 | 957.01 | 478.50 | 239.25 | 49.17 | 6.84 | 32.74% |
| Net Pay | 25,558.88 | 2,129.91 | 1,966.07 | 983.03 | 491.52 | 101.02 | 14.04 | 67.26% |
| Employers NIC Contribution | 3,819.29 | 318.27 | 293.79 | 146.90 | 73.45 | 15.10 | 2.10 | 10.05% |
| Salary Package [Cost of Employee] | 42,959.29 | 3,579.94 | 3,304.56 | 1,652.28 | 826.14 | 169.80 | 23.60 | 113.05% |
1 Percentage expressed in relation to Gross Income [£ 36,100.00].
2023 Salary Example for £ 38,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 38,000.00 | 3,166.67 | 2,923.08 | 1,461.54 | 730.77 | 150.20 | 20.88 | 100.00% |
| Adjusted Gross Income2 | 36,100.00 | 3,008.33 | 2,776.92 | 1,388.46 | 694.23 | 142.69 | 19.84 | 95.00% |
| Company Pension: Employee | 1,900.00 | 158.33 | 146.15 | 73.08 | 36.54 | 7.51 | 1.04 | 5.00% |
| Company Pension: Employer | 1,140.00 | 95.00 | 87.69 | 43.85 | 21.92 | 4.51 | 0.63 | 3.00% |
| Taxable Pay | 36,100.00 | 3,008.33 | 2,776.92 | 1,388.46 | 694.23 | 142.69 | 19.84 | 95.00% |
| Tax Due [PAYE] | 10,440.00 | 870.00 | 803.08 | 401.54 | 200.77 | 41.26 | 5.74 | 27.47% |
| National Insurance | 3,321.12 | 276.76 | 255.47 | 127.74 | 63.87 | 13.13 | 1.82 | 8.74% |
| Total Pay Deductions | 15,661.12 | 1,305.09 | 1,204.70 | 602.35 | 301.18 | 61.90 | 8.61 | 41.21% |
| Net Pay | 22,338.88 | 1,861.57 | 1,718.38 | 859.19 | 429.59 | 88.30 | 12.27 | 58.79% |
| Employers NIC Contribution | 3,819.29 | 318.27 | 293.79 | 146.90 | 73.45 | 15.10 | 2.10 | 10.05% |
| Salary Package [Cost of Employee] | 42,959.29 | 3,579.94 | 3,304.56 | 1,652.28 | 826.14 | 169.80 | 23.60 | 113.05% |
1 Percentage expressed in relation to Gross Income [£ 36,100.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
Join the Discussion on Facebook, share your thoughts and feelings on Boris' plan.