Boris Johnson Tax Calculator - £76,000.00 Salary Example (£76K 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 £76,000.00 Salary (£76K Salary). The illustration also includes an overview of a current 2019 salary example for £76,000.00 and an salary example for £76,000.00 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
£76,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay50409.4455188.4854248.48
Difference n/a4779.043839.04
Take Home66.33%72.62%71.38%

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: £76,000.00
  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 £76,000.00 (Current)

£76,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income76,000.006,333.335,846.152,923.081,461.54300.4041.76100.00%
Adjusted Gross Income272,200.006,016.675,553.852,776.921,388.46285.3839.6795.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8716.45%
Company Pension: Employee3,800.00316.67292.31146.1573.0815.022.095.00%
Company Pension: Employer2,280.00190.00175.3887.6943.859.011.253.00%
Taxable Pay59,700.004,975.004,592.312,296.151,148.08235.9732.8078.55%
Tax Due [PAYE]16,380.001,365.001,260.00630.00315.0064.749.0021.55%
National Insurance5,410.56450.88416.20208.10104.0521.392.977.12%
Total Pay Deductions25,590.562,132.551,968.50984.25492.13101.1514.0633.67%
Net Pay50,409.444,200.793,877.651,938.82969.41199.2527.7066.33%

Employers NIC Contribution8,772.38731.03674.80337.40168.7034.674.8211.54%
Salary Package [Cost of Employee]87,052.387,254.376,696.343,348.171,674.08344.0847.83114.54%

1 Percentage expressed in relation to Gross Income [£72,200.00].

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2019 Salary Example for £76,000.00 (Planned by Boris Johnson)

£76,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income76,000.006,333.335,846.152,923.081,461.54300.4041.76100.00%
Adjusted Gross Income272,200.006,016.675,553.852,776.921,388.46285.3839.6795.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8716.45%
Company Pension: Employee3,800.00316.67292.31146.1573.0815.022.095.00%
Company Pension: Employer2,280.00190.00175.3887.6943.859.011.253.00%
Taxable Pay59,700.004,975.004,592.312,296.151,148.08235.9732.8078.55%
Tax Due [PAYE]11,940.00995.00918.46459.23229.6247.196.5615.71%
National Insurance5,071.52422.63390.12195.0697.5320.052.796.67%
Total Pay Deductions20,811.521,734.291,600.89800.44400.2282.2611.4327.38%
Net Pay55,188.484,599.044,245.272,122.631,061.32218.1430.3272.62%

Employers NIC Contribution8,801.09733.42677.01338.50169.2534.794.8411.58%
Salary Package [Cost of Employee]87,081.097,256.766,698.553,349.271,674.64344.1947.85114.58%

1 Percentage expressed in relation to Gross Income [£72,200.00].

2019 Salary Example for £76,000.00 (Suggested by iCalculator)

£76,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income76,000.006,333.335,846.152,923.081,461.54300.4041.76100.00%
Adjusted Gross Income272,200.006,016.675,553.852,776.921,388.46285.3839.6795.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4839.47%
Company Pension: Employee3,800.00316.67292.31146.1573.0815.022.095.00%
Company Pension: Employer2,280.00190.00175.3887.6943.859.011.253.00%
Taxable Pay42,200.003,516.673,246.151,623.08811.54166.8023.1955.53%
Tax Due [PAYE]12,880.001,073.33990.77495.38247.6950.917.0816.95%
National Insurance5,071.52422.63390.12195.0697.5320.052.796.67%
Total Pay Deductions21,751.521,812.631,673.19836.60418.3085.9711.9528.62%
Net Pay54,248.484,520.714,172.962,086.481,043.24214.4229.8171.38%

Employers NIC Contribution8,801.09733.42677.01338.50169.2534.794.8411.58%
Salary Package [Cost of Employee]87,081.097,256.766,698.553,349.271,674.64344.1947.85114.58%

1 Percentage expressed in relation to Gross Income [£72,200.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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