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Boris Johnson Tax Calculator - £ 67,000.00 Salary Example (£67K 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 £ 67,000.00 Salary (£67K Salary). The illustration also includes an overview of a current 2023 salary example for £ 67,000.00 and an salary example for £ 67,000.00 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 | 40450.44 | 46019.48 | 37289.48 |
| Difference | n/a | 5569.04 | -3160.96 |
| Take Home | 60.37% | 68.69% | 55.66% |
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: £ 67,000.00
- 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 £ 67,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 67,000.00 | 5,583.33 | 5,153.85 | 2,576.92 | 1,288.46 | 264.82 | 36.81 | 100.00% |
| Adjusted Gross Income2 | 63,650.00 | 5,304.17 | 4,896.15 | 2,448.08 | 1,224.04 | 251.58 | 34.97 | 95.00% |
| Company Pension: Employee | 3,350.00 | 279.17 | 257.69 | 128.85 | 64.42 | 13.24 | 1.84 | 5.00% |
| Company Pension: Employer | 2,010.00 | 167.50 | 154.62 | 77.31 | 38.65 | 7.94 | 1.10 | 3.00% |
| Taxable Pay | 63,650.00 | 5,304.17 | 4,896.15 | 2,448.08 | 1,224.04 | 251.58 | 34.97 | 95.00% |
| Tax Due [PAYE] | 17,960.00 | 1,496.67 | 1,381.54 | 690.77 | 345.38 | 70.99 | 9.87 | 26.81% |
| National Insurance | 5,239.56 | 436.63 | 403.04 | 201.52 | 100.76 | 20.71 | 2.88 | 7.82% |
| Total Pay Deductions | 26,549.56 | 2,212.46 | 2,042.27 | 1,021.14 | 510.57 | 104.94 | 14.59 | 39.63% |
| Net Pay | 40,450.44 | 3,370.87 | 3,111.57 | 1,555.79 | 777.89 | 159.88 | 22.23 | 60.37% |
| Employers NIC Contribution | 7,592.48 | 632.71 | 584.04 | 292.02 | 146.01 | 30.01 | 4.17 | 11.33% |
| Salary Package [Cost of Employee] | 76,602.48 | 6,383.54 | 5,892.50 | 2,946.25 | 1,473.12 | 302.78 | 42.09 | 114.33% |
1 Percentage expressed in relation to Gross Income [£ 63,650.00].
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2023 Salary Example for £ 67,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 67,000.00 | 5,583.33 | 5,153.85 | 2,576.92 | 1,288.46 | 264.82 | 36.81 | 100.00% |
| Adjusted Gross Income2 | 63,650.00 | 5,304.17 | 4,896.15 | 2,448.08 | 1,224.04 | 251.58 | 34.97 | 95.00% |
| Company Pension: Employee | 3,350.00 | 279.17 | 257.69 | 128.85 | 64.42 | 13.24 | 1.84 | 5.00% |
| Company Pension: Employer | 2,010.00 | 167.50 | 154.62 | 77.31 | 38.65 | 7.94 | 1.10 | 3.00% |
| Taxable Pay | 63,650.00 | 5,304.17 | 4,896.15 | 2,448.08 | 1,224.04 | 251.58 | 34.97 | 95.00% |
| Tax Due [PAYE] | 12,730.00 | 1,060.83 | 979.23 | 489.62 | 244.81 | 50.32 | 6.99 | 19.00% |
| National Insurance | 4,900.52 | 408.38 | 376.96 | 188.48 | 94.24 | 19.37 | 2.69 | 7.31% |
| Total Pay Deductions | 20,980.52 | 1,748.38 | 1,613.89 | 806.94 | 403.47 | 82.93 | 11.53 | 31.31% |
| Net Pay | 46,019.48 | 3,834.96 | 3,539.96 | 1,769.98 | 884.99 | 181.90 | 25.29 | 68.69% |
| Employers NIC Contribution | 7,621.19 | 635.10 | 586.25 | 293.12 | 146.56 | 30.12 | 4.19 | 11.37% |
| Salary Package [Cost of Employee] | 76,631.19 | 6,385.93 | 5,894.71 | 2,947.35 | 1,473.68 | 302.89 | 42.11 | 114.37% |
1 Percentage expressed in relation to Gross Income [£ 63,650.00].
2023 Salary Example for £ 67,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 67,000.00 | 5,583.33 | 5,153.85 | 2,576.92 | 1,288.46 | 264.82 | 36.81 | 100.00% |
| Adjusted Gross Income2 | 63,650.00 | 5,304.17 | 4,896.15 | 2,448.08 | 1,224.04 | 251.58 | 34.97 | 95.00% |
| Company Pension: Employee | 3,350.00 | 279.17 | 257.69 | 128.85 | 64.42 | 13.24 | 1.84 | 5.00% |
| Company Pension: Employer | 2,010.00 | 167.50 | 154.62 | 77.31 | 38.65 | 7.94 | 1.10 | 3.00% |
| Taxable Pay | 63,650.00 | 5,304.17 | 4,896.15 | 2,448.08 | 1,224.04 | 251.58 | 34.97 | 95.00% |
| Tax Due [PAYE] | 21,460.00 | 1,788.33 | 1,650.77 | 825.38 | 412.69 | 84.82 | 11.79 | 32.03% |
| National Insurance | 4,900.52 | 408.38 | 376.96 | 188.48 | 94.24 | 19.37 | 2.69 | 7.31% |
| Total Pay Deductions | 29,710.52 | 2,475.88 | 2,285.42 | 1,142.71 | 571.36 | 117.43 | 16.32 | 44.34% |
| Net Pay | 37,289.48 | 3,107.46 | 2,868.42 | 1,434.21 | 717.11 | 147.39 | 20.49 | 55.66% |
| Employers NIC Contribution | 7,621.19 | 635.10 | 586.25 | 293.12 | 146.56 | 30.12 | 4.19 | 11.37% |
| Salary Package [Cost of Employee] | 76,631.19 | 6,385.93 | 5,894.71 | 2,947.35 | 1,473.68 | 302.89 | 42.11 | 114.37% |
1 Percentage expressed in relation to Gross Income [£ 63,650.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
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