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Boris Johnson Tax Calculator - £ 45,000.00 Salary Example (£45K 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 £ 45,000.00 Salary (£45K Salary). The illustration also includes an overview of a current 2023 salary example for £ 45,000.00 and an salary example for £ 45,000.00 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 | 29055.84 | 30080.88 | 25530.88 |
| Difference | n/a | 1025.04 | -3524.96 |
| Take Home | 64.57% | 66.85% | 56.74% |
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: £ 45,000.00
- 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 £ 45,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 45,000.00 | 3,750.00 | 3,461.54 | 1,730.77 | 865.38 | 177.87 | 24.73 | 100.00% |
| Adjusted Gross Income2 | 42,750.00 | 3,562.50 | 3,288.46 | 1,644.23 | 822.12 | 168.97 | 23.49 | 95.00% |
| Company Pension: Employee | 2,250.00 | 187.50 | 173.08 | 86.54 | 43.27 | 8.89 | 1.24 | 5.00% |
| Company Pension: Employer | 1,350.00 | 112.50 | 103.85 | 51.92 | 25.96 | 5.34 | 0.74 | 3.00% |
| Taxable Pay | 42,750.00 | 3,562.50 | 3,288.46 | 1,644.23 | 822.12 | 168.97 | 23.49 | 95.00% |
| Tax Due [PAYE] | 9,600.00 | 800.00 | 738.46 | 369.23 | 184.62 | 37.94 | 5.27 | 21.33% |
| National Insurance | 4,094.16 | 341.18 | 314.94 | 157.47 | 78.73 | 16.18 | 2.25 | 9.10% |
| Total Pay Deductions | 15,944.16 | 1,328.68 | 1,226.47 | 613.24 | 306.62 | 63.02 | 8.76 | 35.43% |
| Net Pay | 29,055.84 | 2,421.32 | 2,235.06 | 1,117.53 | 558.77 | 114.85 | 15.96 | 64.57% |
| Employers NIC Contribution | 4,708.28 | 392.36 | 362.18 | 181.09 | 90.54 | 18.61 | 2.59 | 10.46% |
| Salary Package [Cost of Employee] | 51,058.28 | 4,254.86 | 3,927.56 | 1,963.78 | 981.89 | 201.81 | 28.05 | 113.46% |
1 Percentage expressed in relation to Gross Income [£ 42,750.00].
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2023 Salary Example for £ 45,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 45,000.00 | 3,750.00 | 3,461.54 | 1,730.77 | 865.38 | 177.87 | 24.73 | 100.00% |
| Adjusted Gross Income2 | 42,750.00 | 3,562.50 | 3,288.46 | 1,644.23 | 822.12 | 168.97 | 23.49 | 95.00% |
| Company Pension: Employee | 2,250.00 | 187.50 | 173.08 | 86.54 | 43.27 | 8.89 | 1.24 | 5.00% |
| Company Pension: Employer | 1,350.00 | 112.50 | 103.85 | 51.92 | 25.96 | 5.34 | 0.74 | 3.00% |
| Taxable Pay | 42,750.00 | 3,562.50 | 3,288.46 | 1,644.23 | 822.12 | 168.97 | 23.49 | 95.00% |
| Tax Due [PAYE] | 8,550.00 | 712.50 | 657.69 | 328.85 | 164.42 | 33.79 | 4.70 | 19.00% |
| National Insurance | 4,119.12 | 343.26 | 316.86 | 158.43 | 79.21 | 16.28 | 2.26 | 9.15% |
| Total Pay Deductions | 14,919.12 | 1,243.26 | 1,147.62 | 573.81 | 286.91 | 58.97 | 8.20 | 33.15% |
| Net Pay | 30,080.88 | 2,506.74 | 2,313.91 | 1,156.96 | 578.48 | 118.90 | 16.53 | 66.85% |
| Employers NIC Contribution | 4,736.99 | 394.75 | 364.38 | 182.19 | 91.10 | 18.72 | 2.60 | 10.53% |
| Salary Package [Cost of Employee] | 51,086.99 | 4,257.25 | 3,929.77 | 1,964.88 | 982.44 | 201.92 | 28.07 | 113.53% |
1 Percentage expressed in relation to Gross Income [£ 42,750.00].
2023 Salary Example for £ 45,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 45,000.00 | 3,750.00 | 3,461.54 | 1,730.77 | 865.38 | 177.87 | 24.73 | 100.00% |
| Adjusted Gross Income2 | 42,750.00 | 3,562.50 | 3,288.46 | 1,644.23 | 822.12 | 168.97 | 23.49 | 95.00% |
| Company Pension: Employee | 2,250.00 | 187.50 | 173.08 | 86.54 | 43.27 | 8.89 | 1.24 | 5.00% |
| Company Pension: Employer | 1,350.00 | 112.50 | 103.85 | 51.92 | 25.96 | 5.34 | 0.74 | 3.00% |
| Taxable Pay | 42,750.00 | 3,562.50 | 3,288.46 | 1,644.23 | 822.12 | 168.97 | 23.49 | 95.00% |
| Tax Due [PAYE] | 13,100.00 | 1,091.67 | 1,007.69 | 503.85 | 251.92 | 51.78 | 7.20 | 29.11% |
| National Insurance | 4,119.12 | 343.26 | 316.86 | 158.43 | 79.21 | 16.28 | 2.26 | 9.15% |
| Total Pay Deductions | 19,469.12 | 1,622.43 | 1,497.62 | 748.81 | 374.41 | 76.95 | 10.70 | 43.26% |
| Net Pay | 25,530.88 | 2,127.57 | 1,963.91 | 981.96 | 490.98 | 100.91 | 14.03 | 56.74% |
| Employers NIC Contribution | 4,736.99 | 394.75 | 364.38 | 182.19 | 91.10 | 18.72 | 2.60 | 10.53% |
| Salary Package [Cost of Employee] | 51,086.99 | 4,257.25 | 3,929.77 | 1,964.88 | 982.44 | 201.92 | 28.07 | 113.53% |
1 Percentage expressed in relation to Gross Income [£ 42,750.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
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