Boris Johnson Tax Calculator - £58,000.00 Salary Example (£58K 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 £58,000.00 Salary (£58K Salary). The illustration also includes an overview of a current 2019 salary example for £58,000.00 and an salary example for £58,000.00 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
£58,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay40491.4441850.4844330.48
Difference n/a1359.043839.04
Take Home69.81%72.16%76.43%

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: £58,000.00
  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 £58,000.00 (Current)

£58,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income58,000.004,833.334,461.542,230.771,115.38229.2531.87100.00%
Adjusted Gross Income255,100.004,591.674,238.462,119.231,059.62217.7930.2795.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8721.55%
Company Pension: Employee2,900.00241.67223.08111.5455.7711.461.595.00%
Company Pension: Employer1,740.00145.00133.8566.9233.466.880.963.00%
Taxable Pay42,600.003,550.003,276.921,638.46819.23168.3823.4173.45%
Tax Due [PAYE]9,540.00795.00733.85366.92183.4637.715.2416.45%
National Insurance5,068.56422.38389.89194.9497.4720.032.788.74%
Total Pay Deductions17,508.561,459.051,346.81673.41336.7069.209.6230.19%
Net Pay40,491.443,374.293,114.731,557.36778.68160.0522.2569.81%

Employers NIC Contribution6,412.58534.38493.28246.64123.3225.353.5211.06%
Salary Package [Cost of Employee]66,152.585,512.725,088.662,544.331,272.17261.4736.35114.06%

1 Percentage expressed in relation to Gross Income [£55,100.00].

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2019 Salary Example for £58,000.00 (Planned by Boris Johnson)

£58,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income58,000.004,833.334,461.542,230.771,115.38229.2531.87100.00%
Adjusted Gross Income255,100.004,591.674,238.462,119.231,059.62217.7930.2795.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8721.55%
Company Pension: Employee2,900.00241.67223.08111.5455.7711.461.595.00%
Company Pension: Employer1,740.00145.00133.8566.9233.466.880.963.00%
Taxable Pay42,600.003,550.003,276.921,638.46819.23168.3823.4173.45%
Tax Due [PAYE]8,520.00710.00655.38327.69163.8533.684.6814.69%
National Insurance4,729.52394.13363.81181.9090.9518.692.608.15%
Total Pay Deductions16,149.521,345.791,242.27621.14310.5763.838.8727.84%
Net Pay41,850.483,487.543,219.271,609.63804.82165.4222.9972.16%

Employers NIC Contribution6,441.29536.77495.48247.74123.8725.463.5411.11%
Salary Package [Cost of Employee]66,181.295,515.115,090.872,545.431,272.72261.5936.36114.11%

1 Percentage expressed in relation to Gross Income [£55,100.00].

2019 Salary Example for £58,000.00 (Suggested by iCalculator)

£58,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income58,000.004,833.334,461.542,230.771,115.38229.2531.87100.00%
Adjusted Gross Income255,100.004,591.674,238.462,119.231,059.62217.7930.2795.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4851.72%
Company Pension: Employee2,900.00241.67223.08111.5455.7711.461.595.00%
Company Pension: Employer1,740.00145.00133.8566.9233.466.880.963.00%
Taxable Pay25,100.002,091.671,930.77965.38482.6999.2113.7943.28%
Tax Due [PAYE]6,040.00503.33464.62232.31116.1523.873.3210.41%
National Insurance4,729.52394.13363.81181.9090.9518.692.608.15%
Total Pay Deductions13,669.521,139.131,051.50525.75262.8854.037.5123.57%
Net Pay44,330.483,694.213,410.041,705.02852.51175.2224.3676.43%

Employers NIC Contribution6,441.29536.77495.48247.74123.8725.463.5411.11%
Salary Package [Cost of Employee]66,181.295,515.115,090.872,545.431,272.72261.5936.36114.11%

1 Percentage expressed in relation to Gross Income [£55,100.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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