Boris Johnson Tax Calculator - £73,000.00 Salary Example (£73K 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 £73,000.00 Salary (£73K Salary). The illustration also includes an overview of a current 2019 salary example for £73,000.00 and an salary example for £73,000.00 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
£73,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay49095.4852965.4852595.48
Difference n/a38703500
Take Home67.25%72.56%72.05%

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: £73,000.00
  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 £73,000.00 (Current)

£73,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income73,000.006,083.335,615.382,807.691,403.85288.5440.11100.00%
Adjusted Gross Income269,350.005,779.175,334.622,667.311,333.65274.1138.1095.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8717.12%
Company Pension: Employee3,650.00304.17280.77140.3870.1914.432.015.00%
Company Pension: Employer2,190.00182.50168.4684.2342.128.661.203.00%
Taxable Pay56,850.004,737.504,373.082,186.541,093.27224.7031.2477.88%
Tax Due [PAYE]15,240.001,270.001,172.31586.15293.0860.248.3720.88%
National Insurance5,014.52417.88385.73192.8796.4319.822.766.87%
Total Pay Deductions23,904.521,992.041,838.81919.40459.7094.4813.1332.75%
Net Pay49,095.484,091.293,776.581,888.29944.14194.0526.9867.25%

Employers NIC Contribution8,407.79700.65646.75323.38161.6933.234.6211.52%
Salary Package [Cost of Employee]83,597.796,966.486,430.603,215.301,607.65330.4345.93114.52%

1 Percentage expressed in relation to Gross Income [£69,350.00].

2019 Salary Example for £73,000.00 (Planned by Boris Johnson)

£73,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income73,000.006,083.335,615.382,807.691,403.85288.5440.11100.00%
Adjusted Gross Income269,350.005,779.175,334.622,667.311,333.65274.1138.1095.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8717.12%
Company Pension: Employee3,650.00304.17280.77140.3870.1914.432.015.00%
Company Pension: Employer2,190.00182.50168.4684.2342.128.661.203.00%
Taxable Pay56,850.004,737.504,373.082,186.541,093.27224.7031.2477.88%
Tax Due [PAYE]11,370.00947.50874.62437.31218.6544.946.2515.58%
National Insurance5,014.52417.88385.73192.8796.4319.822.766.87%
Total Pay Deductions20,034.521,669.541,541.12770.56385.2879.1911.0127.44%
Net Pay52,965.484,413.794,074.272,037.131,018.57209.3529.1072.56%

Employers NIC Contribution8,407.79700.65646.75323.38161.6933.234.6211.52%
Salary Package [Cost of Employee]83,597.796,966.486,430.603,215.301,607.65330.4345.93114.52%

1 Percentage expressed in relation to Gross Income [£69,350.00].

2019 Salary Example for £73,000.00 (Suggested by iCalculator)

£73,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income73,000.006,083.335,615.382,807.691,403.85288.5440.11100.00%
Adjusted Gross Income269,350.005,779.175,334.622,667.311,333.65274.1138.1095.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4841.10%
Company Pension: Employee3,650.00304.17280.77140.3870.1914.432.015.00%
Company Pension: Employer2,190.00182.50168.4684.2342.128.661.203.00%
Taxable Pay39,350.003,279.173,026.921,513.46756.73155.5321.6253.90%
Tax Due [PAYE]11,740.00978.33903.08451.54225.7746.406.4516.08%
National Insurance5,014.52417.88385.73192.8796.4319.822.766.87%
Total Pay Deductions20,404.521,700.381,569.58784.79392.3980.6511.2127.95%
Net Pay52,595.484,382.964,045.812,022.901,011.45207.8928.9072.05%

Employers NIC Contribution8,407.79700.65646.75323.38161.6933.234.6211.52%
Salary Package [Cost of Employee]83,597.796,966.486,430.603,215.301,607.65330.4345.93114.52%

1 Percentage expressed in relation to Gross Income [£69,350.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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