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Boris Johnson Tax Calculator - £ 54,000.00 Salary Example (£54K 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 £ 54,000.00 Salary (£54K Salary). The illustration also includes an overview of a current 2023 salary example for £ 54,000.00 and an salary example for £ 54,000.00 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
£ 54,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator™ £30k Personal Allowance
Net Pay33287.4436386.4830126.48
Difference n/a3099.04-3160.96
Take Home61.64%67.38%55.79%

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: £ 54,000.00
  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)

2023 Salary Example for £ 54,000.00 (Current)

£ 54,000.00 Salary Example 2023/24 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income54,000.004,500.004,153.852,076.921,038.46213.4429.67100.00%
Adjusted Gross Income251,300.004,275.003,946.151,973.08986.54202.7728.1995.00%
Company Pension: Employee2,700.00225.00207.69103.8551.9210.671.485.00%
Company Pension: Employer1,620.00135.00124.6262.3131.156.400.893.00%
Taxable Pay51,300.004,275.003,946.151,973.08986.54202.7728.1995.00%
Tax Due [PAYE]13,020.001,085.001,001.54500.77250.3851.467.1524.11%
National Insurance4,992.56416.05384.04192.0296.0119.732.749.25%
Total Pay Deductions20,712.561,726.051,593.27796.64398.3281.8711.3838.36%
Net Pay33,287.442,773.952,560.571,280.29640.14131.5718.2961.64%

Employers NIC Contribution5,888.18490.68452.94226.47113.2323.273.2410.90%
Salary Package [Cost of Employee]61,508.185,125.684,731.402,365.701,182.85243.1233.80113.90%

1 Percentage expressed in relation to Gross Income [£ 51,300.00].

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2023 Salary Example for £ 54,000.00 (Planned by Boris Johnson)

£ 54,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income54,000.004,500.004,153.852,076.921,038.46213.4429.67100.00%
Adjusted Gross Income251,300.004,275.003,946.151,973.08986.54202.7728.1995.00%
Company Pension: Employee2,700.00225.00207.69103.8551.9210.671.485.00%
Company Pension: Employer1,620.00135.00124.6262.3131.156.400.893.00%
Taxable Pay51,300.004,275.003,946.151,973.08986.54202.7728.1995.00%
Tax Due [PAYE]10,260.00855.00789.23394.62197.3140.555.6419.00%
National Insurance4,653.52387.79357.96178.9889.4918.392.568.62%
Total Pay Deductions17,613.521,467.791,354.89677.44338.7269.629.6832.62%
Net Pay36,386.483,032.212,798.961,399.48699.74143.8219.9967.38%

Employers NIC Contribution5,916.89493.07455.15227.57113.7923.393.2510.96%
Salary Package [Cost of Employee]61,536.895,128.074,733.612,366.801,183.40243.2333.81113.96%

1 Percentage expressed in relation to Gross Income [£ 51,300.00].

2023 Salary Example for £ 54,000.00 (Suggested by iCalculator)

£ 54,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income54,000.004,500.004,153.852,076.921,038.46213.4429.67100.00%
Adjusted Gross Income251,300.004,275.003,946.151,973.08986.54202.7728.1995.00%
Company Pension: Employee2,700.00225.00207.69103.8551.9210.671.485.00%
Company Pension: Employer1,620.00135.00124.6262.3131.156.400.893.00%
Taxable Pay51,300.004,275.003,946.151,973.08986.54202.7728.1995.00%
Tax Due [PAYE]16,520.001,376.671,270.77635.38317.6965.309.0830.59%
National Insurance4,653.52387.79357.96178.9889.4918.392.568.62%
Total Pay Deductions23,873.521,989.461,836.42918.21459.1194.3613.1244.21%
Net Pay30,126.482,510.542,317.421,158.71579.36119.0816.5555.79%

Employers NIC Contribution5,916.89493.07455.15227.57113.7923.393.2510.96%
Salary Package [Cost of Employee]61,536.895,128.074,733.612,366.801,183.40243.2333.81113.96%

1 Percentage expressed in relation to Gross Income [£ 51,300.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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