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Boris Johnson Tax Calculator - £ 46,000.00 Salary Example (£46K 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 £ 46,000.00 Salary (£46K Salary). The illustration also includes an overview of a current 2023 salary example for £ 46,000.00 and an salary example for £ 46,000.00 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 | 29511.84 | 30726.88 | 25986.88 |
| Difference | n/a | 1215.04 | -3524.96 |
| Take Home | 64.16% | 66.80% | 56.49% |
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: £ 46,000.00
- 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 £ 46,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 46,000.00 | 3,833.33 | 3,538.46 | 1,769.23 | 884.62 | 181.82 | 25.27 | 100.00% |
| Adjusted Gross Income2 | 43,700.00 | 3,641.67 | 3,361.54 | 1,680.77 | 840.38 | 172.73 | 24.01 | 95.00% |
| Company Pension: Employee | 2,300.00 | 191.67 | 176.92 | 88.46 | 44.23 | 9.09 | 1.26 | 5.00% |
| Company Pension: Employer | 1,380.00 | 115.00 | 106.15 | 53.08 | 26.54 | 5.45 | 0.76 | 3.00% |
| Taxable Pay | 43,700.00 | 3,641.67 | 3,361.54 | 1,680.77 | 840.38 | 172.73 | 24.01 | 95.00% |
| Tax Due [PAYE] | 9,980.00 | 831.67 | 767.69 | 383.85 | 191.92 | 39.45 | 5.48 | 21.70% |
| National Insurance | 4,208.16 | 350.68 | 323.70 | 161.85 | 80.93 | 16.63 | 2.31 | 9.15% |
| Total Pay Deductions | 16,488.16 | 1,374.01 | 1,268.32 | 634.16 | 317.08 | 65.17 | 9.06 | 35.84% |
| Net Pay | 29,511.84 | 2,459.32 | 2,270.14 | 1,135.07 | 567.54 | 116.65 | 16.22 | 64.16% |
| Employers NIC Contribution | 4,839.38 | 403.28 | 372.26 | 186.13 | 93.07 | 19.13 | 2.66 | 10.52% |
| Salary Package [Cost of Employee] | 52,219.38 | 4,351.62 | 4,016.88 | 2,008.44 | 1,004.22 | 206.40 | 28.69 | 113.52% |
1 Percentage expressed in relation to Gross Income [£ 43,700.00].
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2023 Salary Example for £ 46,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 46,000.00 | 3,833.33 | 3,538.46 | 1,769.23 | 884.62 | 181.82 | 25.27 | 100.00% |
| Adjusted Gross Income2 | 43,700.00 | 3,641.67 | 3,361.54 | 1,680.77 | 840.38 | 172.73 | 24.01 | 95.00% |
| Company Pension: Employee | 2,300.00 | 191.67 | 176.92 | 88.46 | 44.23 | 9.09 | 1.26 | 5.00% |
| Company Pension: Employer | 1,380.00 | 115.00 | 106.15 | 53.08 | 26.54 | 5.45 | 0.76 | 3.00% |
| Taxable Pay | 43,700.00 | 3,641.67 | 3,361.54 | 1,680.77 | 840.38 | 172.73 | 24.01 | 95.00% |
| Tax Due [PAYE] | 8,740.00 | 728.33 | 672.31 | 336.15 | 168.08 | 34.55 | 4.80 | 19.00% |
| National Insurance | 4,233.12 | 352.76 | 325.62 | 162.81 | 81.41 | 16.73 | 2.33 | 9.20% |
| Total Pay Deductions | 15,273.12 | 1,272.76 | 1,174.86 | 587.43 | 293.71 | 60.37 | 8.39 | 33.20% |
| Net Pay | 30,726.88 | 2,560.57 | 2,363.61 | 1,181.80 | 590.90 | 121.45 | 16.88 | 66.80% |
| Employers NIC Contribution | 4,868.09 | 405.67 | 374.47 | 187.23 | 93.62 | 19.24 | 2.67 | 10.58% |
| Salary Package [Cost of Employee] | 52,248.09 | 4,354.01 | 4,019.08 | 2,009.54 | 1,004.77 | 206.51 | 28.71 | 113.58% |
1 Percentage expressed in relation to Gross Income [£ 43,700.00].
2023 Salary Example for £ 46,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 46,000.00 | 3,833.33 | 3,538.46 | 1,769.23 | 884.62 | 181.82 | 25.27 | 100.00% |
| Adjusted Gross Income2 | 43,700.00 | 3,641.67 | 3,361.54 | 1,680.77 | 840.38 | 172.73 | 24.01 | 95.00% |
| Company Pension: Employee | 2,300.00 | 191.67 | 176.92 | 88.46 | 44.23 | 9.09 | 1.26 | 5.00% |
| Company Pension: Employer | 1,380.00 | 115.00 | 106.15 | 53.08 | 26.54 | 5.45 | 0.76 | 3.00% |
| Taxable Pay | 43,700.00 | 3,641.67 | 3,361.54 | 1,680.77 | 840.38 | 172.73 | 24.01 | 95.00% |
| Tax Due [PAYE] | 13,480.00 | 1,123.33 | 1,036.92 | 518.46 | 259.23 | 53.28 | 7.41 | 29.30% |
| National Insurance | 4,233.12 | 352.76 | 325.62 | 162.81 | 81.41 | 16.73 | 2.33 | 9.20% |
| Total Pay Deductions | 20,013.12 | 1,667.76 | 1,539.47 | 769.74 | 384.87 | 79.10 | 11.00 | 43.51% |
| Net Pay | 25,986.88 | 2,165.57 | 1,998.99 | 999.50 | 499.75 | 102.71 | 14.28 | 56.49% |
| Employers NIC Contribution | 4,868.09 | 405.67 | 374.47 | 187.23 | 93.62 | 19.24 | 2.67 | 10.58% |
| Salary Package [Cost of Employee] | 52,248.09 | 4,354.01 | 4,019.08 | 2,009.54 | 1,004.77 | 206.51 | 28.71 | 113.58% |
1 Percentage expressed in relation to Gross Income [£ 43,700.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
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