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Boris Johnson Tax Calculator - £ 63,000.00 Salary Example (£63K 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 £ 63,000.00 Salary (£63K Salary). The illustration also includes an overview of a current 2023 salary example for £ 63,000.00 and an salary example for £ 63,000.00 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.
| What | Current (2019) | Boris £80k Higher Rate Threshold | iCalculator™ £30k Personal Allowance |
|---|---|---|---|
| Net Pay | 38246.44 | 43055.48 | 35085.48 |
| Difference | n/a | 4809.04 | -3160.96 |
| Take Home | 60.71% | 68.34% | 55.69% |
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:
- Annual Salary before tax: £ 63,000.00
- The individual is part of a company pension scheme
- An Employer Pension Contribution of 5% has been applied
- An Employee Pension Contribution of 3% has been applied
- A standard tax code has been used
- Salary is calculated over a full tax year
- There are no salary sacrifice options included
- There are no special National Insurance Contibutions rules /exemptions (Employer or Employee)
2023 Salary Example for £ 63,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 63,000.00 | 5,250.00 | 4,846.15 | 2,423.08 | 1,211.54 | 249.01 | 34.62 | 100.00% |
| Adjusted Gross Income2 | 59,850.00 | 4,987.50 | 4,603.85 | 2,301.92 | 1,150.96 | 236.56 | 32.88 | 95.00% |
| Company Pension: Employee | 3,150.00 | 262.50 | 242.31 | 121.15 | 60.58 | 12.45 | 1.73 | 5.00% |
| Company Pension: Employer | 1,890.00 | 157.50 | 145.38 | 72.69 | 36.35 | 7.47 | 1.04 | 3.00% |
| Taxable Pay | 59,850.00 | 4,987.50 | 4,603.85 | 2,301.92 | 1,150.96 | 236.56 | 32.88 | 95.00% |
| Tax Due [PAYE] | 16,440.00 | 1,370.00 | 1,264.62 | 632.31 | 316.15 | 64.98 | 9.03 | 26.10% |
| National Insurance | 5,163.56 | 430.30 | 397.20 | 198.60 | 99.30 | 20.41 | 2.84 | 8.20% |
| Total Pay Deductions | 24,753.56 | 2,062.80 | 1,904.12 | 952.06 | 476.03 | 97.84 | 13.60 | 39.29% |
| Net Pay | 38,246.44 | 3,187.20 | 2,942.03 | 1,471.02 | 735.51 | 151.17 | 21.01 | 60.71% |
| Employers NIC Contribution | 7,068.08 | 589.01 | 543.70 | 271.85 | 135.92 | 27.94 | 3.88 | 11.22% |
| Salary Package [Cost of Employee] | 71,958.08 | 5,996.51 | 5,535.24 | 2,767.62 | 1,383.81 | 284.42 | 39.54 | 114.22% |
1 Percentage expressed in relation to Gross Income [£ 59,850.00].
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2023 Salary Example for £ 63,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 63,000.00 | 5,250.00 | 4,846.15 | 2,423.08 | 1,211.54 | 249.01 | 34.62 | 100.00% |
| Adjusted Gross Income2 | 59,850.00 | 4,987.50 | 4,603.85 | 2,301.92 | 1,150.96 | 236.56 | 32.88 | 95.00% |
| Company Pension: Employee | 3,150.00 | 262.50 | 242.31 | 121.15 | 60.58 | 12.45 | 1.73 | 5.00% |
| Company Pension: Employer | 1,890.00 | 157.50 | 145.38 | 72.69 | 36.35 | 7.47 | 1.04 | 3.00% |
| Taxable Pay | 59,850.00 | 4,987.50 | 4,603.85 | 2,301.92 | 1,150.96 | 236.56 | 32.88 | 95.00% |
| Tax Due [PAYE] | 11,970.00 | 997.50 | 920.77 | 460.38 | 230.19 | 47.31 | 6.58 | 19.00% |
| National Insurance | 4,824.52 | 402.04 | 371.12 | 185.56 | 92.78 | 19.07 | 2.65 | 7.66% |
| Total Pay Deductions | 19,944.52 | 1,662.04 | 1,534.19 | 767.10 | 383.55 | 78.83 | 10.96 | 31.66% |
| Net Pay | 43,055.48 | 3,587.96 | 3,311.96 | 1,655.98 | 827.99 | 170.18 | 23.66 | 68.34% |
| Employers NIC Contribution | 7,096.79 | 591.40 | 545.91 | 272.95 | 136.48 | 28.05 | 3.90 | 11.26% |
| Salary Package [Cost of Employee] | 71,986.79 | 5,998.90 | 5,537.45 | 2,768.72 | 1,384.36 | 284.53 | 39.55 | 114.26% |
1 Percentage expressed in relation to Gross Income [£ 59,850.00].
2023 Salary Example for £ 63,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 63,000.00 | 5,250.00 | 4,846.15 | 2,423.08 | 1,211.54 | 249.01 | 34.62 | 100.00% |
| Adjusted Gross Income2 | 59,850.00 | 4,987.50 | 4,603.85 | 2,301.92 | 1,150.96 | 236.56 | 32.88 | 95.00% |
| Company Pension: Employee | 3,150.00 | 262.50 | 242.31 | 121.15 | 60.58 | 12.45 | 1.73 | 5.00% |
| Company Pension: Employer | 1,890.00 | 157.50 | 145.38 | 72.69 | 36.35 | 7.47 | 1.04 | 3.00% |
| Taxable Pay | 59,850.00 | 4,987.50 | 4,603.85 | 2,301.92 | 1,150.96 | 236.56 | 32.88 | 95.00% |
| Tax Due [PAYE] | 19,940.00 | 1,661.67 | 1,533.85 | 766.92 | 383.46 | 78.81 | 10.96 | 31.65% |
| National Insurance | 4,824.52 | 402.04 | 371.12 | 185.56 | 92.78 | 19.07 | 2.65 | 7.66% |
| Total Pay Deductions | 27,914.52 | 2,326.21 | 2,147.27 | 1,073.64 | 536.82 | 110.33 | 15.34 | 44.31% |
| Net Pay | 35,085.48 | 2,923.79 | 2,698.88 | 1,349.44 | 674.72 | 138.68 | 19.28 | 55.69% |
| Employers NIC Contribution | 7,096.79 | 591.40 | 545.91 | 272.95 | 136.48 | 28.05 | 3.90 | 11.26% |
| Salary Package [Cost of Employee] | 71,986.79 | 5,998.90 | 5,537.45 | 2,768.72 | 1,384.36 | 284.53 | 39.55 | 114.26% |
1 Percentage expressed in relation to Gross Income [£ 59,850.00].
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.