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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 2023 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 Pay43756.4450095.4840595.48
Difference n/a6339.04-3160.96
Take Home59.94%68.62%55.61%

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)

2023 Salary Example for £ 73,000.00 (Current)

£ 73,000.00 Salary Example 2023/24 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%
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 Pay69,350.005,779.175,334.622,667.311,333.65274.1138.1095.00%
Tax Due [PAYE]20,240.001,686.671,556.92778.46389.2380.0011.1227.73%
National Insurance5,353.56446.13411.81205.91102.9521.162.947.33%
Total Pay Deductions29,243.562,436.962,249.501,124.75562.38115.5916.0740.06%
Net Pay43,756.443,646.373,365.881,682.94841.47172.9524.0459.94%

Employers NIC Contribution8,379.08698.26644.54322.27161.1433.124.6011.48%
Salary Package [Cost of Employee]83,569.086,964.096,428.393,214.201,607.10330.3145.92114.48%

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

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2023 Salary Example for £ 73,000.00 (Planned by Boris Johnson)

£ 73,000.00 Salary Example 2023/24 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%
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 Pay69,350.005,779.175,334.622,667.311,333.65274.1138.1095.00%
Tax Due [PAYE]14,240.001,186.671,095.38547.69273.8556.287.8219.51%
National Insurance5,014.52417.88385.73192.8796.4319.822.766.87%
Total Pay Deductions22,904.521,908.711,761.89880.94440.4790.5312.5831.38%
Net Pay50,095.484,174.623,853.501,926.75963.37198.0127.5268.62%

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].

2023 Salary Example for £ 73,000.00 (Suggested by iCalculator)

£ 73,000.00 Salary Example 2023/24 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%
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 Pay69,350.005,779.175,334.622,667.311,333.65274.1138.1095.00%
Tax Due [PAYE]23,740.001,978.331,826.15913.08456.5493.8313.0432.52%
National Insurance5,014.52417.88385.73192.8796.4319.822.766.87%
Total Pay Deductions32,404.522,700.382,492.661,246.33623.16128.0817.8044.39%
Net Pay40,595.483,382.963,122.731,561.36780.68160.4622.3155.61%

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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