Boris Johnson Tax Calculator - £88,000.00 Salary Example (£88K 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 £88,000.00 Salary (£88K Salary). The illustration also includes an overview of a current 2019 salary example for £88,000.00 and an salary example for £88,000.00 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
£88,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay57360.4863360.4860860.48
Difference n/a60003500
Take Home65.18%72.00%69.16%

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: £88,000.00
  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 £88,000.00 (Current)

£88,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income88,000.007,333.336,769.233,384.621,692.31347.8348.35100.00%
Adjusted Gross Income283,600.006,966.676,430.773,215.381,607.69330.4345.9395.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8714.20%
Company Pension: Employee4,400.00366.67338.46169.2384.6217.392.425.00%
Company Pension: Employer2,640.00220.00203.08101.5450.7710.431.453.00%
Taxable Pay71,100.005,925.005,469.232,734.621,367.31281.0339.0780.80%
Tax Due [PAYE]20,940.001,745.001,610.77805.38402.6982.7711.5123.80%
National Insurance5,299.52441.63407.66203.83101.9120.952.916.02%
Total Pay Deductions30,639.522,553.292,356.891,178.44589.22121.1016.8334.82%
Net Pay57,360.484,780.044,412.342,206.171,103.09226.7231.5265.18%

Employers NIC Contribution10,374.29864.52798.02399.01199.5141.015.7011.79%
Salary Package [Cost of Employee]101,014.298,417.867,770.333,885.161,942.58399.2755.50114.79%

1 Percentage expressed in relation to Gross Income [£83,600.00].

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2019 Salary Example for £88,000.00 (Planned by Boris Johnson)

£88,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income88,000.007,333.336,769.233,384.621,692.31347.8348.35100.00%
Adjusted Gross Income283,600.006,966.676,430.773,215.381,607.69330.4345.9395.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8714.20%
Company Pension: Employee4,400.00366.67338.46169.2384.6217.392.425.00%
Company Pension: Employer2,640.00220.00203.08101.5450.7710.431.453.00%
Taxable Pay71,100.005,925.005,469.232,734.621,367.31281.0339.0780.80%
Tax Due [PAYE]14,940.001,245.001,149.23574.62287.3159.058.2116.98%
National Insurance5,299.52441.63407.66203.83101.9120.952.916.02%
Total Pay Deductions24,639.522,053.291,895.35947.67473.8497.3913.5428.00%
Net Pay63,360.485,280.044,873.882,436.941,218.47250.4434.8172.00%

Employers NIC Contribution10,374.29864.52798.02399.01199.5141.015.7011.79%
Salary Package [Cost of Employee]101,014.298,417.867,770.333,885.161,942.58399.2755.50114.79%

1 Percentage expressed in relation to Gross Income [£83,600.00].

2019 Salary Example for £88,000.00 (Suggested by iCalculator)

£88,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income88,000.007,333.336,769.233,384.621,692.31347.8348.35100.00%
Adjusted Gross Income283,600.006,966.676,430.773,215.381,607.69330.4345.9395.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4834.09%
Company Pension: Employee4,400.00366.67338.46169.2384.6217.392.425.00%
Company Pension: Employer2,640.00220.00203.08101.5450.7710.431.453.00%
Taxable Pay53,600.004,466.674,123.082,061.541,030.77211.8629.4560.91%
Tax Due [PAYE]17,440.001,453.331,341.54670.77335.3868.939.5819.82%
National Insurance5,299.52441.63407.66203.83101.9120.952.916.02%
Total Pay Deductions27,139.522,261.632,087.661,043.83521.91107.2714.9130.84%
Net Pay60,860.485,071.714,681.582,340.791,170.39240.5633.4469.16%

Employers NIC Contribution10,374.29864.52798.02399.01199.5141.015.7011.79%
Salary Package [Cost of Employee]101,014.298,417.867,770.333,885.161,942.58399.2755.50114.79%

1 Percentage expressed in relation to Gross Income [£83,600.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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