Boris Johnson Tax Calculator - £70,000.00 Salary Example (£70K 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 £70,000.00 Salary (£70K Salary). The illustration also includes an overview of a current 2019 salary example for £70,000.00 and an salary example for £70,000.00 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
£70,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay47103.4450742.4850942.48
Difference n/a3639.043839.04
Take Home67.29%72.49%72.77%

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: £70,000.00
  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 £70,000.00 (Current)

£70,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income70,000.005,833.335,384.622,692.311,346.15276.6838.46100.00%
Adjusted Gross Income266,500.005,541.675,115.382,557.691,278.85262.8536.5495.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8717.86%
Company Pension: Employee3,500.00291.67269.23134.6267.3113.831.925.00%
Company Pension: Employer2,100.00175.00161.5480.7740.388.301.153.00%
Taxable Pay54,000.004,500.004,153.852,076.921,038.46213.4429.6777.14%
Tax Due [PAYE]14,100.001,175.001,084.62542.31271.1555.737.7520.14%
National Insurance5,296.56441.38407.43203.71101.8620.942.917.57%
Total Pay Deductions22,896.561,908.051,761.27880.64440.3290.5012.5832.71%
Net Pay47,103.443,925.293,623.341,811.67905.84186.1825.8867.29%

Employers NIC Contribution7,985.78665.48614.29307.15153.5731.564.3911.41%
Salary Package [Cost of Employee]80,085.786,673.826,160.443,080.221,540.11316.5444.00114.41%

1 Percentage expressed in relation to Gross Income [£66,500.00].

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2019 Salary Example for £70,000.00 (Planned by Boris Johnson)

£70,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income70,000.005,833.335,384.622,692.311,346.15276.6838.46100.00%
Adjusted Gross Income266,500.005,541.675,115.382,557.691,278.85262.8536.5495.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8717.86%
Company Pension: Employee3,500.00291.67269.23134.6267.3113.831.925.00%
Company Pension: Employer2,100.00175.00161.5480.7740.388.301.153.00%
Taxable Pay54,000.004,500.004,153.852,076.921,038.46213.4429.6777.14%
Tax Due [PAYE]10,800.00900.00830.77415.38207.6942.695.9315.43%
National Insurance4,957.52413.13381.35190.6795.3419.592.727.08%
Total Pay Deductions19,257.521,604.791,481.35740.67370.3476.1210.5827.51%
Net Pay50,742.484,228.543,903.271,951.63975.82200.5627.8872.49%

Employers NIC Contribution8,014.49667.87616.50308.25154.1231.684.4011.45%
Salary Package [Cost of Employee]80,114.496,676.216,162.653,081.331,540.66316.6644.02114.45%

1 Percentage expressed in relation to Gross Income [£66,500.00].

2019 Salary Example for £70,000.00 (Suggested by iCalculator)

£70,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income70,000.005,833.335,384.622,692.311,346.15276.6838.46100.00%
Adjusted Gross Income266,500.005,541.675,115.382,557.691,278.85262.8536.5495.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4842.86%
Company Pension: Employee3,500.00291.67269.23134.6267.3113.831.925.00%
Company Pension: Employer2,100.00175.00161.5480.7740.388.301.153.00%
Taxable Pay36,500.003,041.672,807.691,403.85701.92144.2720.0552.14%
Tax Due [PAYE]10,600.00883.33815.38407.69203.8541.905.8215.14%
National Insurance4,957.52413.13381.35190.6795.3419.592.727.08%
Total Pay Deductions19,057.521,588.131,465.96732.98366.4975.3310.4727.23%
Net Pay50,942.484,245.213,918.651,959.33979.66201.3527.9972.77%

Employers NIC Contribution8,014.49667.87616.50308.25154.1231.684.4011.45%
Salary Package [Cost of Employee]80,114.496,676.216,162.653,081.331,540.66316.6644.02114.45%

1 Percentage expressed in relation to Gross Income [£66,500.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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