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Boris Johnson Tax Calculator - £ 8,000.00 Salary Example (£8K 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 £ 8,000.00 Salary (£8K Salary). The illustration also includes an overview of a current 2023 salary example for £ 8,000.00 and an salary example for £ 8,000.00 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.
| What | Current (2019) | Boris £80k Higher Rate Threshold | iCalculator™ £30k Personal Allowance |
|---|---|---|---|
| Net Pay | 6080 | 6080 | 6080 |
| Difference | n/a | 0 | 0 |
| Take Home | 76.00% | 76.00% | 76.00% |
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:
- Annual Salary before tax: £ 8,000.00
- The individual is part of a company pension scheme
- An Employer Pension Contribution of 5% has been applied
- An Employee Pension Contribution of 3% has been applied
- A standard tax code has been used
- Salary is calculated over a full tax year
- There are no salary sacrifice options included
- There are no special National Insurance Contibutions rules /exemptions (Employer or Employee)
2023 Salary Example for £ 8,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 8,000.00 | 666.67 | 615.38 | 307.69 | 153.85 | 31.62 | 4.40 | 100.00% |
| Adjusted Gross Income2 | 7,600.00 | 633.33 | 584.62 | 292.31 | 146.15 | 30.04 | 4.18 | 95.00% |
| Company Pension: Employee | 400.00 | 33.33 | 30.77 | 15.38 | 7.69 | 1.58 | 0.22 | 5.00% |
| Company Pension: Employer | 240.00 | 20.00 | 18.46 | 9.23 | 4.62 | 0.95 | 0.13 | 3.00% |
| Taxable Pay | 7,600.00 | 633.33 | 584.62 | 292.31 | 146.15 | 30.04 | 4.18 | 95.00% |
| Tax Due [PAYE] | 1,520.00 | 126.67 | 116.92 | 58.46 | 29.23 | 6.01 | 0.84 | 19.00% |
| Total Pay Deductions | 1,920.00 | 160.00 | 147.69 | 73.85 | 36.92 | 7.59 | 1.05 | 24.00% |
| Net Pay | 6,080.00 | 506.67 | 467.69 | 233.85 | 116.92 | 24.03 | 3.34 | 76.00% |
| Salary Package [Cost of Employee] | 8,240.00 | 686.67 | 633.85 | 316.92 | 158.46 | 32.57 | 4.53 | 103.00% |
1 Percentage expressed in relation to Gross Income [£ 7,600.00].
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2023 Salary Example for £ 8,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 8,000.00 | 666.67 | 615.38 | 307.69 | 153.85 | 31.62 | 4.40 | 100.00% |
| Adjusted Gross Income2 | 7,600.00 | 633.33 | 584.62 | 292.31 | 146.15 | 30.04 | 4.18 | 95.00% |
| Company Pension: Employee | 400.00 | 33.33 | 30.77 | 15.38 | 7.69 | 1.58 | 0.22 | 5.00% |
| Company Pension: Employer | 240.00 | 20.00 | 18.46 | 9.23 | 4.62 | 0.95 | 0.13 | 3.00% |
| Taxable Pay | 7,600.00 | 633.33 | 584.62 | 292.31 | 146.15 | 30.04 | 4.18 | 95.00% |
| Tax Due [PAYE] | 1,520.00 | 126.67 | 116.92 | 58.46 | 29.23 | 6.01 | 0.84 | 19.00% |
| Total Pay Deductions | 1,920.00 | 160.00 | 147.69 | 73.85 | 36.92 | 7.59 | 1.05 | 24.00% |
| Net Pay | 6,080.00 | 506.67 | 467.69 | 233.85 | 116.92 | 24.03 | 3.34 | 76.00% |
| Salary Package [Cost of Employee] | 8,240.00 | 686.67 | 633.85 | 316.92 | 158.46 | 32.57 | 4.53 | 103.00% |
1 Percentage expressed in relation to Gross Income [£ 7,600.00].
2023 Salary Example for £ 8,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 8,000.00 | 666.67 | 615.38 | 307.69 | 153.85 | 31.62 | 4.40 | 100.00% |
| Adjusted Gross Income2 | 7,600.00 | 633.33 | 584.62 | 292.31 | 146.15 | 30.04 | 4.18 | 95.00% |
| Company Pension: Employee | 400.00 | 33.33 | 30.77 | 15.38 | 7.69 | 1.58 | 0.22 | 5.00% |
| Company Pension: Employer | 240.00 | 20.00 | 18.46 | 9.23 | 4.62 | 0.95 | 0.13 | 3.00% |
| Taxable Pay | 7,600.00 | 633.33 | 584.62 | 292.31 | 146.15 | 30.04 | 4.18 | 95.00% |
| Tax Due [PAYE] | 1,520.00 | 126.67 | 116.92 | 58.46 | 29.23 | 6.01 | 0.84 | 19.00% |
| Total Pay Deductions | 1,920.00 | 160.00 | 147.69 | 73.85 | 36.92 | 7.59 | 1.05 | 24.00% |
| Net Pay | 6,080.00 | 506.67 | 467.69 | 233.85 | 116.92 | 24.03 | 3.34 | 76.00% |
| Salary Package [Cost of Employee] | 8,240.00 | 686.67 | 633.85 | 316.92 | 158.46 | 32.57 | 4.53 | 103.00% |
1 Percentage expressed in relation to Gross Income [£ 7,600.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
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