Boris Johnson Tax Calculator - £43,000.00 Salary Example (£43K 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 £43,000.00 Salary (£43K Salary). The illustration also includes an overview of a current 2019 salary example for £43,000.00 and an salary example for £43,000.00 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
£43,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay31313.8431288.8834788.88
Difference n/a-24.9599999999993475.04
Take Home72.82%72.76%80.90%

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: £43,000.00
  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 £43,000.00 (Current)

£43,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income43,000.003,583.333,307.691,653.85826.92169.9623.63100.00%
Adjusted Gross Income240,850.003,404.173,142.311,571.15785.58161.4622.4595.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8729.07%
Company Pension: Employee2,150.00179.17165.3882.6941.358.501.185.00%
Company Pension: Employer1,290.00107.5099.2349.6224.815.100.713.00%
Taxable Pay28,350.002,362.502,180.771,090.38545.19112.0615.5865.93%
Tax Due [PAYE]5,670.00472.50436.15218.08109.0422.413.1213.19%
National Insurance3,866.16322.18297.40148.7074.3515.282.128.99%
Total Pay Deductions11,686.16973.85898.94449.47224.7346.196.4227.18%
Net Pay31,313.842,609.492,408.761,204.38602.19123.7717.2172.82%

Employers NIC Contribution4,446.08370.51342.01171.0085.5017.572.4410.34%
Salary Package [Cost of Employee]48,736.084,061.343,748.931,874.46937.23192.6326.78113.34%

1 Percentage expressed in relation to Gross Income [£40,850.00].

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2019 Salary Example for £43,000.00 (Planned by Boris Johnson)

£43,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income43,000.003,583.333,307.691,653.85826.92169.9623.63100.00%
Adjusted Gross Income240,850.003,404.173,142.311,571.15785.58161.4622.4595.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8729.07%
Company Pension: Employee2,150.00179.17165.3882.6941.358.501.185.00%
Company Pension: Employer1,290.00107.5099.2349.6224.815.100.713.00%
Taxable Pay28,350.002,362.502,180.771,090.38545.19112.0615.5865.93%
Tax Due [PAYE]5,670.00472.50436.15218.08109.0422.413.1213.19%
National Insurance3,891.12324.26299.32149.6674.8315.382.149.05%
Total Pay Deductions11,711.12975.93900.86450.43225.2146.296.4327.24%
Net Pay31,288.882,607.412,406.841,203.42601.71123.6717.1972.76%

Employers NIC Contribution4,474.79372.90344.21172.1186.0517.692.4610.41%
Salary Package [Cost of Employee]48,764.794,063.733,751.141,875.57937.78192.7526.79113.41%

1 Percentage expressed in relation to Gross Income [£40,850.00].

2019 Salary Example for £43,000.00 (Suggested by iCalculator)

£43,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income43,000.003,583.333,307.691,653.85826.92169.9623.63100.00%
Adjusted Gross Income240,850.003,404.173,142.311,571.15785.58161.4622.4595.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4869.77%
Company Pension: Employee2,150.00179.17165.3882.6941.358.501.185.00%
Company Pension: Employer1,290.00107.5099.2349.6224.815.100.713.00%
Taxable Pay10,850.00904.17834.62417.31208.6542.895.9625.23%
Tax Due [PAYE]2,170.00180.83166.9283.4641.738.581.195.05%
National Insurance3,891.12324.26299.32149.6674.8315.382.149.05%
Total Pay Deductions8,211.12684.26631.62315.81157.9132.464.5119.10%
Net Pay34,788.882,899.072,676.071,338.03669.02137.5119.1180.90%

Employers NIC Contribution4,474.79372.90344.21172.1186.0517.692.4610.41%
Salary Package [Cost of Employee]48,764.794,063.733,751.141,875.57937.78192.7526.79113.41%

1 Percentage expressed in relation to Gross Income [£40,850.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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