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Boris Johnson Tax Calculator - £ 49,000.00 Salary Example (£49K 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 £ 49,000.00 Salary (£49K Salary). The illustration also includes an overview of a current 2023 salary example for £ 49,000.00 and an salary example for £ 49,000.00 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 | 30879.84 | 32681.48 | 27371.48 |
| Difference | n/a | 1801.64 | -3508.36 |
| Take Home | 63.02% | 66.70% | 55.86% |
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: £ 49,000.00
- 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 £ 49,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 49,000.00 | 4,083.33 | 3,769.23 | 1,884.62 | 942.31 | 193.68 | 26.92 | 100.00% |
| Adjusted Gross Income2 | 46,550.00 | 3,879.17 | 3,580.77 | 1,790.38 | 895.19 | 183.99 | 25.58 | 95.00% |
| Company Pension: Employee | 2,450.00 | 204.17 | 188.46 | 94.23 | 47.12 | 9.68 | 1.35 | 5.00% |
| Company Pension: Employer | 1,470.00 | 122.50 | 113.08 | 56.54 | 28.27 | 5.81 | 0.81 | 3.00% |
| Taxable Pay | 46,550.00 | 3,879.17 | 3,580.77 | 1,790.38 | 895.19 | 183.99 | 25.58 | 95.00% |
| Tax Due [PAYE] | 11,120.00 | 926.67 | 855.38 | 427.69 | 213.85 | 43.95 | 6.11 | 22.69% |
| National Insurance | 4,550.16 | 379.18 | 350.01 | 175.01 | 87.50 | 17.98 | 2.50 | 9.29% |
| Total Pay Deductions | 18,120.16 | 1,510.01 | 1,393.86 | 696.93 | 348.46 | 71.62 | 9.96 | 36.98% |
| Net Pay | 30,879.84 | 2,573.32 | 2,375.37 | 1,187.69 | 593.84 | 122.05 | 16.97 | 63.02% |
| Employers NIC Contribution | 5,232.68 | 436.06 | 402.51 | 201.26 | 100.63 | 20.68 | 2.88 | 10.68% |
| Salary Package [Cost of Employee] | 55,702.68 | 4,641.89 | 4,284.82 | 2,142.41 | 1,071.21 | 220.17 | 30.61 | 113.68% |
1 Percentage expressed in relation to Gross Income [£ 46,550.00].
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2023 Salary Example for £ 49,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 49,000.00 | 4,083.33 | 3,769.23 | 1,884.62 | 942.31 | 193.68 | 26.92 | 100.00% |
| Adjusted Gross Income2 | 46,550.00 | 3,879.17 | 3,580.77 | 1,790.38 | 895.19 | 183.99 | 25.58 | 95.00% |
| Company Pension: Employee | 2,450.00 | 204.17 | 188.46 | 94.23 | 47.12 | 9.68 | 1.35 | 5.00% |
| Company Pension: Employer | 1,470.00 | 122.50 | 113.08 | 56.54 | 28.27 | 5.81 | 0.81 | 3.00% |
| Taxable Pay | 46,550.00 | 3,879.17 | 3,580.77 | 1,790.38 | 895.19 | 183.99 | 25.58 | 95.00% |
| Tax Due [PAYE] | 9,310.00 | 775.83 | 716.15 | 358.08 | 179.04 | 36.80 | 5.12 | 19.00% |
| National Insurance | 4,558.52 | 379.88 | 350.66 | 175.33 | 87.66 | 18.02 | 2.50 | 9.30% |
| Total Pay Deductions | 16,318.52 | 1,359.88 | 1,255.27 | 627.64 | 313.82 | 64.50 | 8.97 | 33.30% |
| Net Pay | 32,681.48 | 2,723.46 | 2,513.96 | 1,256.98 | 628.49 | 129.18 | 17.96 | 66.70% |
| Employers NIC Contribution | 5,261.39 | 438.45 | 404.72 | 202.36 | 101.18 | 20.80 | 2.89 | 10.74% |
| Salary Package [Cost of Employee] | 55,731.39 | 4,644.28 | 4,287.03 | 2,143.51 | 1,071.76 | 220.28 | 30.62 | 113.74% |
1 Percentage expressed in relation to Gross Income [£ 46,550.00].
2023 Salary Example for £ 49,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 49,000.00 | 4,083.33 | 3,769.23 | 1,884.62 | 942.31 | 193.68 | 26.92 | 100.00% |
| Adjusted Gross Income2 | 46,550.00 | 3,879.17 | 3,580.77 | 1,790.38 | 895.19 | 183.99 | 25.58 | 95.00% |
| Company Pension: Employee | 2,450.00 | 204.17 | 188.46 | 94.23 | 47.12 | 9.68 | 1.35 | 5.00% |
| Company Pension: Employer | 1,470.00 | 122.50 | 113.08 | 56.54 | 28.27 | 5.81 | 0.81 | 3.00% |
| Taxable Pay | 46,550.00 | 3,879.17 | 3,580.77 | 1,790.38 | 895.19 | 183.99 | 25.58 | 95.00% |
| Tax Due [PAYE] | 14,620.00 | 1,218.33 | 1,124.62 | 562.31 | 281.15 | 57.79 | 8.03 | 29.84% |
| National Insurance | 4,558.52 | 379.88 | 350.66 | 175.33 | 87.66 | 18.02 | 2.50 | 9.30% |
| Total Pay Deductions | 21,628.52 | 1,802.38 | 1,663.73 | 831.87 | 415.93 | 85.49 | 11.88 | 44.14% |
| Net Pay | 27,371.48 | 2,280.96 | 2,105.50 | 1,052.75 | 526.37 | 108.19 | 15.04 | 55.86% |
| Employers NIC Contribution | 5,261.39 | 438.45 | 404.72 | 202.36 | 101.18 | 20.80 | 2.89 | 10.74% |
| Salary Package [Cost of Employee] | 55,731.39 | 4,644.28 | 4,287.03 | 2,143.51 | 1,071.76 | 220.28 | 30.62 | 113.74% |
1 Percentage expressed in relation to Gross Income [£ 46,550.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
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