Menu

Boris Johnson Tax Calculator - £ 59,000.00 Salary Example (£59K 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 £ 59,000.00 Salary (£59K Salary). The illustration also includes an overview of a current 2023 salary example for £ 59,000.00 and an salary example for £ 59,000.00 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
£ 59,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator™ £30k Personal Allowance
Net Pay36042.4440091.4832881.48
Difference n/a4049.04-3160.96
Take Home61.09%67.95%55.73%

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: £ 59,000.00
  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 £ 59,000.00 (Current)

£ 59,000.00 Salary Example 2023/24 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income59,000.004,916.674,538.462,269.231,134.62233.2032.42100.00%
Adjusted Gross Income256,050.004,670.834,311.542,155.771,077.88221.5430.8095.00%
Company Pension: Employee2,950.00245.83226.92113.4656.7311.661.625.00%
Company Pension: Employer1,770.00147.50136.1568.0834.047.000.973.00%
Taxable Pay56,050.004,670.834,311.542,155.771,077.88221.5430.8095.00%
Tax Due [PAYE]14,920.001,243.331,147.69573.85286.9258.978.2025.29%
National Insurance5,087.56423.96391.35195.6897.8420.112.808.62%
Total Pay Deductions22,957.561,913.131,765.97882.98441.4990.7412.6138.91%
Net Pay36,042.443,003.542,772.501,386.25693.12142.4619.8061.09%

Employers NIC Contribution6,543.68545.31503.36251.68125.8425.863.6011.09%
Salary Package [Cost of Employee]67,313.685,609.475,177.982,588.991,294.49266.0636.99114.09%

1 Percentage expressed in relation to Gross Income [£ 56,050.00].

Please provide a rating, it takes seconds and helps us to keep this resource free for all to use

[ No Votes ]

2023 Salary Example for £ 59,000.00 (Planned by Boris Johnson)

£ 59,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income59,000.004,916.674,538.462,269.231,134.62233.2032.42100.00%
Adjusted Gross Income256,050.004,670.834,311.542,155.771,077.88221.5430.8095.00%
Company Pension: Employee2,950.00245.83226.92113.4656.7311.661.625.00%
Company Pension: Employer1,770.00147.50136.1568.0834.047.000.973.00%
Taxable Pay56,050.004,670.834,311.542,155.771,077.88221.5430.8095.00%
Tax Due [PAYE]11,210.00934.17862.31431.15215.5844.316.1619.00%
National Insurance4,748.52395.71365.27182.6491.3218.772.618.05%
Total Pay Deductions18,908.521,575.711,454.50727.25363.6374.7410.3932.05%
Net Pay40,091.483,340.963,083.961,541.98770.99158.4622.0367.95%

Employers NIC Contribution6,572.39547.70505.57252.78126.3925.983.6111.14%
Salary Package [Cost of Employee]67,342.395,611.875,180.182,590.091,295.05266.1837.00114.14%

1 Percentage expressed in relation to Gross Income [£ 56,050.00].

2023 Salary Example for £ 59,000.00 (Suggested by iCalculator)

£ 59,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income59,000.004,916.674,538.462,269.231,134.62233.2032.42100.00%
Adjusted Gross Income256,050.004,670.834,311.542,155.771,077.88221.5430.8095.00%
Company Pension: Employee2,950.00245.83226.92113.4656.7311.661.625.00%
Company Pension: Employer1,770.00147.50136.1568.0834.047.000.973.00%
Taxable Pay56,050.004,670.834,311.542,155.771,077.88221.5430.8095.00%
Tax Due [PAYE]18,420.001,535.001,416.92708.46354.2372.8110.1231.22%
National Insurance4,748.52395.71365.27182.6491.3218.772.618.05%
Total Pay Deductions26,118.522,176.542,009.121,004.56502.28103.2414.3544.27%
Net Pay32,881.482,740.122,529.341,264.67632.34129.9718.0755.73%

Employers NIC Contribution6,572.39547.70505.57252.78126.3925.983.6111.14%
Salary Package [Cost of Employee]67,342.395,611.875,180.182,590.091,295.05266.1837.00114.14%

1 Percentage expressed in relation to Gross Income [£ 56,050.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

Join the Discussion on Facebook, share your thoughts and feelings on Boris' plan.