Boris Johnson Tax Calculator - £50,000.00 Salary Example (£50K 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 £50,000.00 Salary (£50K Salary). The illustration also includes an overview of a current 2019 salary example for £50,000.00 and an salary example for £50,000.00 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
£50,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay35922.4835922.4839422.48
Difference n/a03500
Take Home71.84%71.84%78.84%

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: £50,000.00
  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 £50,000.00 (Current)

£50,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income50,000.004,166.673,846.151,923.08961.54197.6327.47100.00%
Adjusted Gross Income247,500.003,958.333,653.851,826.92913.46187.7526.1095.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8725.00%
Company Pension: Employee2,500.00208.33192.3196.1548.089.881.375.00%
Company Pension: Employer1,500.00125.00115.3857.6928.855.930.823.00%
Taxable Pay35,000.002,916.672,692.311,346.15673.08138.3419.2370.00%
Tax Due [PAYE]7,000.00583.33538.46269.23134.6227.673.8514.00%
National Insurance4,577.52381.46352.12176.0688.0318.092.529.16%
Total Pay Deductions14,077.521,173.131,082.89541.44270.7255.647.7328.16%
Net Pay35,922.482,993.542,763.271,381.63690.82141.9919.7471.84%

Employers NIC Contribution5,392.49449.37414.81207.40103.7021.312.9610.78%
Salary Package [Cost of Employee]56,892.494,741.044,376.352,188.171,094.09224.8731.26113.78%

1 Percentage expressed in relation to Gross Income [£47,500.00].

2019 Salary Example for £50,000.00 (Planned by Boris Johnson)

£50,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income50,000.004,166.673,846.151,923.08961.54197.6327.47100.00%
Adjusted Gross Income247,500.003,958.333,653.851,826.92913.46187.7526.1095.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8725.00%
Company Pension: Employee2,500.00208.33192.3196.1548.089.881.375.00%
Company Pension: Employer1,500.00125.00115.3857.6928.855.930.823.00%
Taxable Pay35,000.002,916.672,692.311,346.15673.08138.3419.2370.00%
Tax Due [PAYE]7,000.00583.33538.46269.23134.6227.673.8514.00%
National Insurance4,577.52381.46352.12176.0688.0318.092.529.16%
Total Pay Deductions14,077.521,173.131,082.89541.44270.7255.647.7328.16%
Net Pay35,922.482,993.542,763.271,381.63690.82141.9919.7471.84%

Employers NIC Contribution5,392.49449.37414.81207.40103.7021.312.9610.78%
Salary Package [Cost of Employee]56,892.494,741.044,376.352,188.171,094.09224.8731.26113.78%

1 Percentage expressed in relation to Gross Income [£47,500.00].

2019 Salary Example for £50,000.00 (Suggested by iCalculator)

£50,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income50,000.004,166.673,846.151,923.08961.54197.6327.47100.00%
Adjusted Gross Income247,500.003,958.333,653.851,826.92913.46187.7526.1095.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4860.00%
Company Pension: Employee2,500.00208.33192.3196.1548.089.881.375.00%
Company Pension: Employer1,500.00125.00115.3857.6928.855.930.823.00%
Taxable Pay17,500.001,458.331,346.15673.08336.5469.179.6235.00%
Tax Due [PAYE]3,500.00291.67269.23134.6267.3113.831.927.00%
National Insurance4,577.52381.46352.12176.0688.0318.092.529.16%
Total Pay Deductions10,577.52881.46813.66406.83203.4141.815.8121.16%
Net Pay39,422.483,285.213,032.501,516.25758.12155.8221.6678.84%

Employers NIC Contribution5,392.49449.37414.81207.40103.7021.312.9610.78%
Salary Package [Cost of Employee]56,892.494,741.044,376.352,188.171,094.09224.8731.26113.78%

1 Percentage expressed in relation to Gross Income [£47,500.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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