Boris Johnson Tax Calculator - £68,000.00 Salary Example (£68K 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 £68,000.00 Salary (£68K Salary). The illustration also includes an overview of a current 2019 salary example for £68,000.00 and an salary example for £68,000.00 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
£68,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay46001.4449260.4849840.48
Difference n/a3259.043839.04
Take Home67.65%72.44%73.29%

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: £68,000.00
  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 £68,000.00 (Current)

£68,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income68,000.005,666.675,230.772,615.381,307.69268.7737.36100.00%
Adjusted Gross Income264,600.005,383.334,969.232,484.621,242.31255.3435.4995.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8718.38%
Company Pension: Employee3,400.00283.33261.54130.7765.3813.441.875.00%
Company Pension: Employer2,040.00170.00156.9278.4639.238.061.123.00%
Taxable Pay52,100.004,341.674,007.692,003.851,001.92205.9328.6376.62%
Tax Due [PAYE]13,340.001,111.671,026.15513.08256.5452.737.3319.62%
National Insurance5,258.56438.21404.50202.25101.1320.782.897.73%
Total Pay Deductions21,998.561,833.211,692.20846.10423.0586.9512.0932.35%
Net Pay46,001.443,833.453,538.571,769.29884.64181.8225.2867.65%

Employers NIC Contribution7,723.58643.63594.12297.06148.5330.534.2411.36%
Salary Package [Cost of Employee]77,763.586,480.305,981.812,990.911,495.45307.3742.73114.36%

1 Percentage expressed in relation to Gross Income [£64,600.00].

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2019 Salary Example for £68,000.00 (Planned by Boris Johnson)

£68,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income68,000.005,666.675,230.772,615.381,307.69268.7737.36100.00%
Adjusted Gross Income264,600.005,383.334,969.232,484.621,242.31255.3435.4995.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8718.38%
Company Pension: Employee3,400.00283.33261.54130.7765.3813.441.875.00%
Company Pension: Employer2,040.00170.00156.9278.4639.238.061.123.00%
Taxable Pay52,100.004,341.674,007.692,003.851,001.92205.9328.6376.62%
Tax Due [PAYE]10,420.00868.33801.54400.77200.3841.195.7315.32%
National Insurance4,919.52409.96378.42189.2194.6119.442.707.23%
Total Pay Deductions18,739.521,561.631,441.50720.75360.3874.0710.3027.56%
Net Pay49,260.484,105.043,789.271,894.63947.32194.7127.0772.44%

Employers NIC Contribution7,752.29646.02596.33298.16149.0830.644.2611.40%
Salary Package [Cost of Employee]77,792.296,482.695,984.022,992.011,496.01307.4842.74114.40%

1 Percentage expressed in relation to Gross Income [£64,600.00].

2019 Salary Example for £68,000.00 (Suggested by iCalculator)

£68,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income68,000.005,666.675,230.772,615.381,307.69268.7737.36100.00%
Adjusted Gross Income264,600.005,383.334,969.232,484.621,242.31255.3435.4995.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4844.12%
Company Pension: Employee3,400.00283.33261.54130.7765.3813.441.875.00%
Company Pension: Employer2,040.00170.00156.9278.4639.238.061.123.00%
Taxable Pay34,600.002,883.332,661.541,330.77665.38136.7619.0150.88%
Tax Due [PAYE]9,840.00820.00756.92378.46189.2338.895.4114.47%
National Insurance4,919.52409.96378.42189.2194.6119.442.707.23%
Total Pay Deductions18,159.521,513.291,396.89698.44349.2271.789.9826.71%
Net Pay49,840.484,153.373,833.881,916.94958.47197.0027.3873.29%

Employers NIC Contribution7,752.29646.02596.33298.16149.0830.644.2611.40%
Salary Package [Cost of Employee]77,792.296,482.695,984.022,992.011,496.01307.4842.74114.40%

1 Percentage expressed in relation to Gross Income [£64,600.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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