Boris Johnson Tax Calculator - £60,000.00 Salary Example (£60K 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 £60,000.00 Salary (£60K Salary). The illustration also includes an overview of a current 2019 salary example for £60,000.00 and an salary example for £60,000.00 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
£60,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay41593.4443332.4845432.48
Difference n/a1739.043839.04
Take Home69.32%72.22%75.72%

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: £60,000.00
  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 £60,000.00 (Current)

£60,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income60,000.005,000.004,615.382,307.691,153.85237.1532.97100.00%
Adjusted Gross Income257,000.004,750.004,384.622,192.311,096.15225.3031.3295.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8720.83%
Company Pension: Employee3,000.00250.00230.77115.3857.6911.861.655.00%
Company Pension: Employer1,800.00150.00138.4669.2334.627.110.993.00%
Taxable Pay44,500.003,708.333,423.081,711.54855.77175.8924.4574.17%
Tax Due [PAYE]10,300.00858.33792.31396.15198.0840.715.6617.17%
National Insurance5,106.56425.55392.81196.4198.2020.182.818.51%
Total Pay Deductions18,406.561,533.881,415.89707.94353.9772.7510.1130.68%
Net Pay41,593.443,466.123,199.501,599.75799.87164.4022.8569.32%

Employers NIC Contribution6,674.78556.23513.44256.72128.3626.383.6711.12%
Salary Package [Cost of Employee]68,474.785,706.235,267.292,633.651,316.82270.6537.62114.12%

1 Percentage expressed in relation to Gross Income [£57,000.00].

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2019 Salary Example for £60,000.00 (Planned by Boris Johnson)

£60,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income60,000.005,000.004,615.382,307.691,153.85237.1532.97100.00%
Adjusted Gross Income257,000.004,750.004,384.622,192.311,096.15225.3031.3295.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8720.83%
Company Pension: Employee3,000.00250.00230.77115.3857.6911.861.655.00%
Company Pension: Employer1,800.00150.00138.4669.2334.627.110.993.00%
Taxable Pay44,500.003,708.333,423.081,711.54855.77175.8924.4574.17%
Tax Due [PAYE]8,900.00741.67684.62342.31171.1535.184.8914.83%
National Insurance4,767.52397.29366.73183.3791.6818.842.627.95%
Total Pay Deductions16,667.521,388.961,282.12641.06320.5365.889.1627.78%
Net Pay43,332.483,611.043,333.271,666.63833.32171.2723.8172.22%

Employers NIC Contribution6,703.49558.62515.65257.83128.9126.503.6811.17%
Salary Package [Cost of Employee]68,503.495,708.625,269.502,634.751,317.37270.7637.64114.17%

1 Percentage expressed in relation to Gross Income [£57,000.00].

2019 Salary Example for £60,000.00 (Suggested by iCalculator)

£60,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income60,000.005,000.004,615.382,307.691,153.85237.1532.97100.00%
Adjusted Gross Income257,000.004,750.004,384.622,192.311,096.15225.3031.3295.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4850.00%
Company Pension: Employee3,000.00250.00230.77115.3857.6911.861.655.00%
Company Pension: Employer1,800.00150.00138.4669.2334.627.110.993.00%
Taxable Pay27,000.002,250.002,076.921,038.46519.23106.7214.8445.00%
Tax Due [PAYE]6,800.00566.67523.08261.54130.7726.883.7411.33%
National Insurance4,767.52397.29366.73183.3791.6818.842.627.95%
Total Pay Deductions14,567.521,213.961,120.58560.29280.1457.588.0024.28%
Net Pay45,432.483,786.043,494.811,747.40873.70179.5824.9675.72%

Employers NIC Contribution6,703.49558.62515.65257.83128.9126.503.6811.17%
Salary Package [Cost of Employee]68,503.495,708.625,269.502,634.751,317.37270.7637.64114.17%

1 Percentage expressed in relation to Gross Income [£57,000.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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