Boris Johnson Tax Calculator - £72,000.00 Salary Example (£72K 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 £72,000.00 Salary (£72K Salary). The illustration also includes an overview of a current 2019 salary example for £72,000.00 and an salary example for £72,000.00 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
£72,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay48544.4852224.4852044.48
Difference n/a36803500
Take Home67.42%72.53%72.28%

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: £72,000.00
  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 £72,000.00 (Current)

£72,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income72,000.006,000.005,538.462,769.231,384.62284.5839.56100.00%
Adjusted Gross Income268,400.005,700.005,261.542,630.771,315.38270.3637.5895.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8717.36%
Company Pension: Employee3,600.00300.00276.92138.4669.2314.231.985.00%
Company Pension: Employer2,160.00180.00166.1583.0841.548.541.193.00%
Taxable Pay55,900.004,658.334,300.002,150.001,075.00220.9530.7177.64%
Tax Due [PAYE]14,860.001,238.331,143.08571.54285.7758.748.1620.64%
National Insurance4,995.52416.29384.27192.1496.0719.752.746.94%
Total Pay Deductions23,455.521,954.631,804.27902.14451.0792.7112.8932.58%
Net Pay48,544.484,045.373,734.191,867.10933.55191.8826.6767.42%

Employers NIC Contribution8,276.69689.72636.67318.33159.1732.714.5511.50%
Salary Package [Cost of Employee]82,436.696,869.726,341.283,170.641,585.32325.8445.29114.50%

1 Percentage expressed in relation to Gross Income [£68,400.00].

2019 Salary Example for £72,000.00 (Planned by Boris Johnson)

£72,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income72,000.006,000.005,538.462,769.231,384.62284.5839.56100.00%
Adjusted Gross Income268,400.005,700.005,261.542,630.771,315.38270.3637.5895.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8717.36%
Company Pension: Employee3,600.00300.00276.92138.4669.2314.231.985.00%
Company Pension: Employer2,160.00180.00166.1583.0841.548.541.193.00%
Taxable Pay55,900.004,658.334,300.002,150.001,075.00220.9530.7177.64%
Tax Due [PAYE]11,180.00931.67860.00430.00215.0044.196.1415.53%
National Insurance4,995.52416.29384.27192.1496.0719.752.746.94%
Total Pay Deductions19,775.521,647.961,521.19760.60380.3078.1610.8727.47%
Net Pay52,224.484,352.044,017.272,008.631,004.32206.4228.6972.53%

Employers NIC Contribution8,276.69689.72636.67318.33159.1732.714.5511.50%
Salary Package [Cost of Employee]82,436.696,869.726,341.283,170.641,585.32325.8445.29114.50%

1 Percentage expressed in relation to Gross Income [£68,400.00].

2019 Salary Example for £72,000.00 (Suggested by iCalculator)

£72,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income72,000.006,000.005,538.462,769.231,384.62284.5839.56100.00%
Adjusted Gross Income268,400.005,700.005,261.542,630.771,315.38270.3637.5895.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4841.67%
Company Pension: Employee3,600.00300.00276.92138.4669.2314.231.985.00%
Company Pension: Employer2,160.00180.00166.1583.0841.548.541.193.00%
Taxable Pay38,400.003,200.002,953.851,476.92738.46151.7821.1053.33%
Tax Due [PAYE]11,360.00946.67873.85436.92218.4644.906.2415.78%
National Insurance4,995.52416.29384.27192.1496.0719.752.746.94%
Total Pay Deductions19,955.521,662.961,535.04767.52383.7678.8810.9627.72%
Net Pay52,044.484,337.044,003.422,001.711,000.86205.7128.6072.28%

Employers NIC Contribution8,276.69689.72636.67318.33159.1732.714.5511.50%
Salary Package [Cost of Employee]82,436.696,869.726,341.283,170.641,585.32325.8445.29114.50%

1 Percentage expressed in relation to Gross Income [£68,400.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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