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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 2023 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.
| What | Current (2019) | Boris £80k Higher Rate Threshold | iCalculator™ £30k Personal Allowance |
|---|---|---|---|
| Net Pay | 52021.44 | 58360.48 | 48860.48 |
| Difference | n/a | 6339.04 | -3160.96 |
| Take Home | 59.12% | 66.32% | 55.52% |
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: £ 88,000.00
- 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 £ 88,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 88,000.00 | 7,333.33 | 6,769.23 | 3,384.62 | 1,692.31 | 347.83 | 48.35 | 100.00% |
| Adjusted Gross Income2 | 83,600.00 | 6,966.67 | 6,430.77 | 3,215.38 | 1,607.69 | 330.43 | 45.93 | 95.00% |
| Company Pension: Employee | 4,400.00 | 366.67 | 338.46 | 169.23 | 84.62 | 17.39 | 2.42 | 5.00% |
| Company Pension: Employer | 2,640.00 | 220.00 | 203.08 | 101.54 | 50.77 | 10.43 | 1.45 | 3.00% |
| Taxable Pay | 83,600.00 | 6,966.67 | 6,430.77 | 3,215.38 | 1,607.69 | 330.43 | 45.93 | 95.00% |
| Tax Due [PAYE] | 25,940.00 | 2,161.67 | 1,995.38 | 997.69 | 498.85 | 102.53 | 14.25 | 29.48% |
| National Insurance | 5,638.56 | 469.88 | 433.74 | 216.87 | 108.43 | 22.29 | 3.10 | 6.41% |
| Total Pay Deductions | 35,978.56 | 2,998.21 | 2,767.58 | 1,383.79 | 691.90 | 142.21 | 19.77 | 40.88% |
| Net Pay | 52,021.44 | 4,335.12 | 4,001.65 | 2,000.82 | 1,000.41 | 205.62 | 28.58 | 59.12% |
| Employers NIC Contribution | 10,345.58 | 862.13 | 795.81 | 397.91 | 198.95 | 40.89 | 5.68 | 11.76% |
| Salary Package [Cost of Employee] | 100,985.58 | 8,415.47 | 7,768.12 | 3,884.06 | 1,942.03 | 399.15 | 55.49 | 114.76% |
1 Percentage expressed in relation to Gross Income [£ 83,600.00].
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2023 Salary Example for £ 88,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 88,000.00 | 7,333.33 | 6,769.23 | 3,384.62 | 1,692.31 | 347.83 | 48.35 | 100.00% |
| Adjusted Gross Income2 | 83,600.00 | 6,966.67 | 6,430.77 | 3,215.38 | 1,607.69 | 330.43 | 45.93 | 95.00% |
| Company Pension: Employee | 4,400.00 | 366.67 | 338.46 | 169.23 | 84.62 | 17.39 | 2.42 | 5.00% |
| Company Pension: Employer | 2,640.00 | 220.00 | 203.08 | 101.54 | 50.77 | 10.43 | 1.45 | 3.00% |
| Taxable Pay | 83,600.00 | 6,966.67 | 6,430.77 | 3,215.38 | 1,607.69 | 330.43 | 45.93 | 95.00% |
| Tax Due [PAYE] | 19,940.00 | 1,661.67 | 1,533.85 | 766.92 | 383.46 | 78.81 | 10.96 | 22.66% |
| National Insurance | 5,299.52 | 441.63 | 407.66 | 203.83 | 101.91 | 20.95 | 2.91 | 6.02% |
| Total Pay Deductions | 29,639.52 | 2,469.96 | 2,279.96 | 1,139.98 | 569.99 | 117.15 | 16.29 | 33.68% |
| Net Pay | 58,360.48 | 4,863.37 | 4,489.27 | 2,244.63 | 1,122.32 | 230.67 | 32.07 | 66.32% |
| Employers NIC Contribution | 10,374.29 | 864.52 | 798.02 | 399.01 | 199.51 | 41.01 | 5.70 | 11.79% |
| Salary Package [Cost of Employee] | 101,014.29 | 8,417.86 | 7,770.33 | 3,885.16 | 1,942.58 | 399.27 | 55.50 | 114.79% |
1 Percentage expressed in relation to Gross Income [£ 83,600.00].
2023 Salary Example for £ 88,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 88,000.00 | 7,333.33 | 6,769.23 | 3,384.62 | 1,692.31 | 347.83 | 48.35 | 100.00% |
| Adjusted Gross Income2 | 83,600.00 | 6,966.67 | 6,430.77 | 3,215.38 | 1,607.69 | 330.43 | 45.93 | 95.00% |
| Company Pension: Employee | 4,400.00 | 366.67 | 338.46 | 169.23 | 84.62 | 17.39 | 2.42 | 5.00% |
| Company Pension: Employer | 2,640.00 | 220.00 | 203.08 | 101.54 | 50.77 | 10.43 | 1.45 | 3.00% |
| Taxable Pay | 83,600.00 | 6,966.67 | 6,430.77 | 3,215.38 | 1,607.69 | 330.43 | 45.93 | 95.00% |
| Tax Due [PAYE] | 29,440.00 | 2,453.33 | 2,264.62 | 1,132.31 | 566.15 | 116.36 | 16.18 | 33.45% |
| National Insurance | 5,299.52 | 441.63 | 407.66 | 203.83 | 101.91 | 20.95 | 2.91 | 6.02% |
| Total Pay Deductions | 39,139.52 | 3,261.63 | 3,010.73 | 1,505.37 | 752.68 | 154.70 | 21.51 | 44.48% |
| Net Pay | 48,860.48 | 4,071.71 | 3,758.50 | 1,879.25 | 939.62 | 193.12 | 26.85 | 55.52% |
| Employers NIC Contribution | 10,374.29 | 864.52 | 798.02 | 399.01 | 199.51 | 41.01 | 5.70 | 11.79% |
| Salary Package [Cost of Employee] | 101,014.29 | 8,417.86 | 7,770.33 | 3,885.16 | 1,942.58 | 399.27 | 55.50 | 114.79% |
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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