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Boris Johnson Tax Calculator - £ 64,000.00 Salary Example (£64K 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 £ 64,000.00 Salary (£64K Salary). The illustration also includes an overview of a current 2023 salary example for £ 64,000.00 and an salary example for £ 64,000.00 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
£ 64,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator™ £30k Personal Allowance
Net Pay38797.4443796.4835636.48
Difference n/a4999.04-3160.96
Take Home60.62%68.43%55.68%

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: £ 64,000.00
  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 £ 64,000.00 (Current)

£ 64,000.00 Salary Example 2023/24 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income64,000.005,333.334,923.082,461.541,230.77252.9635.16100.00%
Adjusted Gross Income260,800.005,066.674,676.922,338.461,169.23240.3233.4195.00%
Company Pension: Employee3,200.00266.67246.15123.0861.5412.651.765.00%
Company Pension: Employer1,920.00160.00147.6973.8536.927.591.053.00%
Taxable Pay60,800.005,066.674,676.922,338.461,169.23240.3233.4195.00%
Tax Due [PAYE]16,820.001,401.671,293.85646.92323.4666.489.2426.28%
National Insurance5,182.56431.88398.66199.3399.6620.482.858.10%
Total Pay Deductions25,202.562,100.211,938.66969.33484.6699.6113.8539.38%
Net Pay38,797.443,233.122,984.421,492.21746.10153.3521.3260.62%

Employers NIC Contribution7,199.18599.93553.78276.89138.4528.463.9611.25%
Salary Package [Cost of Employee]73,119.186,093.275,624.552,812.281,406.14289.0140.18114.25%

1 Percentage expressed in relation to Gross Income [£ 60,800.00].

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2023 Salary Example for £ 64,000.00 (Planned by Boris Johnson)

£ 64,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income64,000.005,333.334,923.082,461.541,230.77252.9635.16100.00%
Adjusted Gross Income260,800.005,066.674,676.922,338.461,169.23240.3233.4195.00%
Company Pension: Employee3,200.00266.67246.15123.0861.5412.651.765.00%
Company Pension: Employer1,920.00160.00147.6973.8536.927.591.053.00%
Taxable Pay60,800.005,066.674,676.922,338.461,169.23240.3233.4195.00%
Tax Due [PAYE]12,160.001,013.33935.38467.69233.8548.066.6819.00%
National Insurance4,843.52403.63372.58186.2993.1419.142.667.57%
Total Pay Deductions20,203.521,683.631,554.12777.06388.5379.8611.1031.57%
Net Pay43,796.483,649.713,368.961,684.48842.24173.1124.0668.43%

Employers NIC Contribution7,227.89602.32555.99278.00139.0028.573.9711.29%
Salary Package [Cost of Employee]73,147.896,095.665,626.762,813.381,406.69289.1240.19114.29%

1 Percentage expressed in relation to Gross Income [£ 60,800.00].

2023 Salary Example for £ 64,000.00 (Suggested by iCalculator)

£ 64,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income64,000.005,333.334,923.082,461.541,230.77252.9635.16100.00%
Adjusted Gross Income260,800.005,066.674,676.922,338.461,169.23240.3233.4195.00%
Company Pension: Employee3,200.00266.67246.15123.0861.5412.651.765.00%
Company Pension: Employer1,920.00160.00147.6973.8536.927.591.053.00%
Taxable Pay60,800.005,066.674,676.922,338.461,169.23240.3233.4195.00%
Tax Due [PAYE]20,320.001,693.331,563.08781.54390.7780.3211.1631.75%
National Insurance4,843.52403.63372.58186.2993.1419.142.667.57%
Total Pay Deductions28,363.522,363.632,181.811,090.90545.45112.1115.5844.32%
Net Pay35,636.482,969.712,741.271,370.63685.32140.8619.5855.68%

Employers NIC Contribution7,227.89602.32555.99278.00139.0028.573.9711.29%
Salary Package [Cost of Employee]73,147.896,095.665,626.762,813.381,406.69289.1240.19114.29%

1 Percentage expressed in relation to Gross Income [£ 60,800.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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