Boris Johnson Tax Calculator - £47,000.00 Salary Example (£47K 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 £47,000.00 Salary (£47K Salary). The illustration also includes an overview of a current 2019 salary example for £47,000.00 and an salary example for £47,000.00 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
£47,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay33872.8833872.8837372.88
Difference n/a03500
Take Home72.07%72.07%79.52%

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: £47,000.00
  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 £47,000.00 (Current)

£47,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income47,000.003,916.673,615.381,807.69903.85185.7725.82100.00%
Adjusted Gross Income244,650.003,720.833,434.621,717.31858.65176.4824.5395.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8726.60%
Company Pension: Employee2,350.00195.83180.7790.3845.199.291.295.00%
Company Pension: Employer1,410.00117.50108.4654.2327.125.570.773.00%
Taxable Pay32,150.002,679.172,473.081,236.54618.27127.0817.6668.40%
Tax Due [PAYE]6,430.00535.83494.62247.31123.6525.423.5313.68%
National Insurance4,347.12362.26334.39167.2083.6017.182.399.25%
Total Pay Deductions13,127.121,093.931,009.78504.89252.4451.897.2127.93%
Net Pay33,872.882,822.742,605.611,302.80651.40133.8818.6172.07%

Employers NIC Contribution4,999.19416.60384.55192.2896.1419.762.7510.64%
Salary Package [Cost of Employee]53,409.194,450.774,108.402,054.201,027.10211.1029.35113.64%

1 Percentage expressed in relation to Gross Income [£44,650.00].

2019 Salary Example for £47,000.00 (Planned by Boris Johnson)

£47,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income47,000.003,916.673,615.381,807.69903.85185.7725.82100.00%
Adjusted Gross Income244,650.003,720.833,434.621,717.31858.65176.4824.5395.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8726.60%
Company Pension: Employee2,350.00195.83180.7790.3845.199.291.295.00%
Company Pension: Employer1,410.00117.50108.4654.2327.125.570.773.00%
Taxable Pay32,150.002,679.172,473.081,236.54618.27127.0817.6668.40%
Tax Due [PAYE]6,430.00535.83494.62247.31123.6525.423.5313.68%
National Insurance4,347.12362.26334.39167.2083.6017.182.399.25%
Total Pay Deductions13,127.121,093.931,009.78504.89252.4451.897.2127.93%
Net Pay33,872.882,822.742,605.611,302.80651.40133.8818.6172.07%

Employers NIC Contribution4,999.19416.60384.55192.2896.1419.762.7510.64%
Salary Package [Cost of Employee]53,409.194,450.774,108.402,054.201,027.10211.1029.35113.64%

1 Percentage expressed in relation to Gross Income [£44,650.00].

2019 Salary Example for £47,000.00 (Suggested by iCalculator)

£47,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income47,000.003,916.673,615.381,807.69903.85185.7725.82100.00%
Adjusted Gross Income244,650.003,720.833,434.621,717.31858.65176.4824.5395.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4863.83%
Company Pension: Employee2,350.00195.83180.7790.3845.199.291.295.00%
Company Pension: Employer1,410.00117.50108.4654.2327.125.570.773.00%
Taxable Pay14,650.001,220.831,126.92563.46281.7357.918.0531.17%
Tax Due [PAYE]2,930.00244.17225.38112.6956.3511.581.616.23%
National Insurance4,347.12362.26334.39167.2083.6017.182.399.25%
Total Pay Deductions9,627.12802.26740.55370.27185.1438.055.2920.48%
Net Pay37,372.883,114.412,874.841,437.42718.71147.7220.5379.52%

Employers NIC Contribution4,999.19416.60384.55192.2896.1419.762.7510.64%
Salary Package [Cost of Employee]53,409.194,450.774,108.402,054.201,027.10211.1029.35113.64%

1 Percentage expressed in relation to Gross Income [£44,650.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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