Boris Johnson Tax Calculator - £71,000.00 Salary Example (£71K 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 £71,000.00 Salary (£71K Salary). The illustration also includes an overview of a current 2019 salary example for £71,000.00 and an salary example for £71,000.00 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
£71,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay47654.4451483.4851493.48
Difference n/a3829.043839.04
Take Home67.12%72.51%72.53%

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: £71,000.00
  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 £71,000.00 (Current)

£71,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income71,000.005,916.675,461.542,730.771,365.38280.6339.01100.00%
Adjusted Gross Income267,450.005,620.835,188.462,594.231,297.12266.6037.0695.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8717.61%
Company Pension: Employee3,550.00295.83273.08136.5468.2714.031.955.00%
Company Pension: Employer2,130.00177.50163.8581.9240.968.421.173.00%
Taxable Pay54,950.004,579.174,226.922,113.461,056.73217.1930.1977.39%
Tax Due [PAYE]14,480.001,206.671,113.85556.92278.4657.237.9620.39%
National Insurance5,315.56442.96408.89204.44102.2221.012.927.49%
Total Pay Deductions23,345.561,945.461,795.81897.91448.9592.2712.8332.88%
Net Pay47,654.443,971.203,665.731,832.86916.43188.3626.1867.12%

Employers NIC Contribution8,116.88676.41624.38312.19156.0932.084.4611.43%
Salary Package [Cost of Employee]81,246.886,770.576,249.763,124.881,562.44321.1344.64114.43%

1 Percentage expressed in relation to Gross Income [£67,450.00].

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2019 Salary Example for £71,000.00 (Planned by Boris Johnson)

£71,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income71,000.005,916.675,461.542,730.771,365.38280.6339.01100.00%
Adjusted Gross Income267,450.005,620.835,188.462,594.231,297.12266.6037.0695.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8717.61%
Company Pension: Employee3,550.00295.83273.08136.5468.2714.031.955.00%
Company Pension: Employer2,130.00177.50163.8581.9240.968.421.173.00%
Taxable Pay54,950.004,579.174,226.922,113.461,056.73217.1930.1977.39%
Tax Due [PAYE]10,990.00915.83845.38422.69211.3543.446.0415.48%
National Insurance4,976.52414.71382.81191.4095.7019.672.737.01%
Total Pay Deductions19,516.521,626.381,501.27750.64375.3277.1410.7227.49%
Net Pay51,483.484,290.293,960.271,980.13990.07203.4928.2972.51%

Employers NIC Contribution8,145.59678.80626.58313.29156.6532.204.4811.47%
Salary Package [Cost of Employee]81,275.596,772.976,251.973,125.981,562.99321.2544.66114.47%

1 Percentage expressed in relation to Gross Income [£67,450.00].

2019 Salary Example for £71,000.00 (Suggested by iCalculator)

£71,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income71,000.005,916.675,461.542,730.771,365.38280.6339.01100.00%
Adjusted Gross Income267,450.005,620.835,188.462,594.231,297.12266.6037.0695.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4842.25%
Company Pension: Employee3,550.00295.83273.08136.5468.2714.031.955.00%
Company Pension: Employer2,130.00177.50163.8581.9240.968.421.173.00%
Taxable Pay37,450.003,120.832,880.771,440.38720.19148.0220.5852.75%
Tax Due [PAYE]10,980.00915.00844.62422.31211.1543.406.0315.46%
National Insurance4,976.52414.71382.81191.4095.7019.672.737.01%
Total Pay Deductions19,506.521,625.541,500.50750.25375.1377.1010.7227.47%
Net Pay51,493.484,291.123,961.041,980.52990.26203.5328.2972.53%

Employers NIC Contribution8,145.59678.80626.58313.29156.6532.204.4811.47%
Salary Package [Cost of Employee]81,275.596,772.976,251.973,125.981,562.99321.2544.66114.47%

1 Percentage expressed in relation to Gross Income [£67,450.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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