Boris Johnson Tax Calculator - £42,000.00 Salary Example (£42K 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 £42,000.00 Salary (£42K Salary). The illustration also includes an overview of a current 2019 salary example for £42,000.00 and an salary example for £42,000.00 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
£42,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay30642.8830642.8834142.88
Difference n/a03500
Take Home72.96%72.96%81.29%

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: £42,000.00
  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 £42,000.00 (Current)

£42,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income42,000.003,500.003,230.771,615.38807.69166.0123.08100.00%
Adjusted Gross Income239,900.003,325.003,069.231,534.62767.31157.7121.9295.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8729.76%
Company Pension: Employee2,100.00175.00161.5480.7740.388.301.155.00%
Company Pension: Employer1,260.00105.0096.9248.4624.234.980.693.00%
Taxable Pay27,400.002,283.332,107.691,053.85526.92108.3015.0565.24%
Tax Due [PAYE]5,480.00456.67421.54210.77105.3821.663.0113.05%
National Insurance3,777.12314.76290.55145.2772.6414.932.088.99%
Total Pay Deductions11,357.12946.43873.62436.81218.4144.896.2427.04%
Net Pay30,642.882,553.572,357.141,178.57589.29121.1216.8472.96%

Employers NIC Contribution4,343.69361.97334.13167.0683.5317.172.3910.34%
Salary Package [Cost of Employee]47,603.693,966.973,661.821,830.91915.46188.1626.16113.34%

1 Percentage expressed in relation to Gross Income [£39,900.00].

2019 Salary Example for £42,000.00 (Planned by Boris Johnson)

£42,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income42,000.003,500.003,230.771,615.38807.69166.0123.08100.00%
Adjusted Gross Income239,900.003,325.003,069.231,534.62767.31157.7121.9295.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8729.76%
Company Pension: Employee2,100.00175.00161.5480.7740.388.301.155.00%
Company Pension: Employer1,260.00105.0096.9248.4624.234.980.693.00%
Taxable Pay27,400.002,283.332,107.691,053.85526.92108.3015.0565.24%
Tax Due [PAYE]5,480.00456.67421.54210.77105.3821.663.0113.05%
National Insurance3,777.12314.76290.55145.2772.6414.932.088.99%
Total Pay Deductions11,357.12946.43873.62436.81218.4144.896.2427.04%
Net Pay30,642.882,553.572,357.141,178.57589.29121.1216.8472.96%

Employers NIC Contribution4,343.69361.97334.13167.0683.5317.172.3910.34%
Salary Package [Cost of Employee]47,603.693,966.973,661.821,830.91915.46188.1626.16113.34%

1 Percentage expressed in relation to Gross Income [£39,900.00].

2019 Salary Example for £42,000.00 (Suggested by iCalculator)

£42,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income42,000.003,500.003,230.771,615.38807.69166.0123.08100.00%
Adjusted Gross Income239,900.003,325.003,069.231,534.62767.31157.7121.9295.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4871.43%
Company Pension: Employee2,100.00175.00161.5480.7740.388.301.155.00%
Company Pension: Employer1,260.00105.0096.9248.4624.234.980.693.00%
Taxable Pay9,900.00825.00761.54380.77190.3839.135.4423.57%
Tax Due [PAYE]1,980.00165.00152.3176.1538.087.831.094.71%
National Insurance3,777.12314.76290.55145.2772.6414.932.088.99%
Total Pay Deductions7,857.12654.76604.39302.20151.1031.064.3218.71%
Net Pay34,142.882,845.242,626.381,313.19656.59134.9518.7681.29%

Employers NIC Contribution4,343.69361.97334.13167.0683.5317.172.3910.34%
Salary Package [Cost of Employee]47,603.693,966.973,661.821,830.91915.46188.1626.16113.34%

1 Percentage expressed in relation to Gross Income [£39,900.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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