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Boris Johnson Tax Calculator - £ 85,000.00 Salary Example (£85K 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 £ 85,000.00 Salary (£85K Salary). The illustration also includes an overview of a current 2023 salary example for £ 85,000.00 and an salary example for £ 85,000.00 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 | 50368.44 | 56707.48 | 47207.48 |
| Difference | n/a | 6339.04 | -3160.96 |
| Take Home | 59.26% | 66.71% | 55.54% |
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: £ 85,000.00
- 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 £ 85,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 85,000.00 | 7,083.33 | 6,538.46 | 3,269.23 | 1,634.62 | 335.97 | 46.70 | 100.00% |
| Adjusted Gross Income2 | 80,750.00 | 6,729.17 | 6,211.54 | 3,105.77 | 1,552.88 | 319.17 | 44.37 | 95.00% |
| Company Pension: Employee | 4,250.00 | 354.17 | 326.92 | 163.46 | 81.73 | 16.80 | 2.34 | 5.00% |
| Company Pension: Employer | 2,550.00 | 212.50 | 196.15 | 98.08 | 49.04 | 10.08 | 1.40 | 3.00% |
| Taxable Pay | 80,750.00 | 6,729.17 | 6,211.54 | 3,105.77 | 1,552.88 | 319.17 | 44.37 | 95.00% |
| Tax Due [PAYE] | 24,800.00 | 2,066.67 | 1,907.69 | 953.85 | 476.92 | 98.02 | 13.63 | 29.18% |
| National Insurance | 5,581.56 | 465.13 | 429.35 | 214.68 | 107.34 | 22.06 | 3.07 | 6.57% |
| Total Pay Deductions | 34,631.56 | 2,885.96 | 2,663.97 | 1,331.98 | 665.99 | 136.88 | 19.03 | 40.74% |
| Net Pay | 50,368.44 | 4,197.37 | 3,874.50 | 1,937.25 | 968.62 | 199.08 | 27.67 | 59.26% |
| Employers NIC Contribution | 9,952.28 | 829.36 | 765.56 | 382.78 | 191.39 | 39.34 | 5.47 | 11.71% |
| Salary Package [Cost of Employee] | 97,502.28 | 8,125.19 | 7,500.18 | 3,750.09 | 1,875.04 | 385.38 | 53.57 | 114.71% |
1 Percentage expressed in relation to Gross Income [£ 80,750.00].
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2023 Salary Example for £ 85,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 85,000.00 | 7,083.33 | 6,538.46 | 3,269.23 | 1,634.62 | 335.97 | 46.70 | 100.00% |
| Adjusted Gross Income2 | 80,750.00 | 6,729.17 | 6,211.54 | 3,105.77 | 1,552.88 | 319.17 | 44.37 | 95.00% |
| Company Pension: Employee | 4,250.00 | 354.17 | 326.92 | 163.46 | 81.73 | 16.80 | 2.34 | 5.00% |
| Company Pension: Employer | 2,550.00 | 212.50 | 196.15 | 98.08 | 49.04 | 10.08 | 1.40 | 3.00% |
| Taxable Pay | 80,750.00 | 6,729.17 | 6,211.54 | 3,105.77 | 1,552.88 | 319.17 | 44.37 | 95.00% |
| Tax Due [PAYE] | 18,800.00 | 1,566.67 | 1,446.15 | 723.08 | 361.54 | 74.31 | 10.33 | 22.12% |
| National Insurance | 5,242.52 | 436.88 | 403.27 | 201.64 | 100.82 | 20.72 | 2.88 | 6.17% |
| Total Pay Deductions | 28,292.52 | 2,357.71 | 2,176.35 | 1,088.17 | 544.09 | 111.83 | 15.55 | 33.29% |
| Net Pay | 56,707.48 | 4,725.62 | 4,362.11 | 2,181.06 | 1,090.53 | 224.14 | 31.16 | 66.71% |
| Employers NIC Contribution | 9,980.99 | 831.75 | 767.77 | 383.88 | 191.94 | 39.45 | 5.48 | 11.74% |
| Salary Package [Cost of Employee] | 97,530.99 | 8,127.58 | 7,502.38 | 3,751.19 | 1,875.60 | 385.50 | 53.59 | 114.74% |
1 Percentage expressed in relation to Gross Income [£ 80,750.00].
2023 Salary Example for £ 85,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 85,000.00 | 7,083.33 | 6,538.46 | 3,269.23 | 1,634.62 | 335.97 | 46.70 | 100.00% |
| Adjusted Gross Income2 | 80,750.00 | 6,729.17 | 6,211.54 | 3,105.77 | 1,552.88 | 319.17 | 44.37 | 95.00% |
| Company Pension: Employee | 4,250.00 | 354.17 | 326.92 | 163.46 | 81.73 | 16.80 | 2.34 | 5.00% |
| Company Pension: Employer | 2,550.00 | 212.50 | 196.15 | 98.08 | 49.04 | 10.08 | 1.40 | 3.00% |
| Taxable Pay | 80,750.00 | 6,729.17 | 6,211.54 | 3,105.77 | 1,552.88 | 319.17 | 44.37 | 95.00% |
| Tax Due [PAYE] | 28,300.00 | 2,358.33 | 2,176.92 | 1,088.46 | 544.23 | 111.86 | 15.55 | 33.29% |
| National Insurance | 5,242.52 | 436.88 | 403.27 | 201.64 | 100.82 | 20.72 | 2.88 | 6.17% |
| Total Pay Deductions | 37,792.52 | 3,149.38 | 2,907.12 | 1,453.56 | 726.78 | 149.38 | 20.77 | 44.46% |
| Net Pay | 47,207.48 | 3,933.96 | 3,631.34 | 1,815.67 | 907.84 | 186.59 | 25.94 | 55.54% |
| Employers NIC Contribution | 9,980.99 | 831.75 | 767.77 | 383.88 | 191.94 | 39.45 | 5.48 | 11.74% |
| Salary Package [Cost of Employee] | 97,530.99 | 8,127.58 | 7,502.38 | 3,751.19 | 1,875.60 | 385.50 | 53.59 | 114.74% |
1 Percentage expressed in relation to Gross Income [£ 80,750.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
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