Boris Johnson Tax Calculator - £98,000.00 Salary Example (£98K 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 £98,000.00 Salary (£98K Salary). The illustration also includes an overview of a current 2019 salary example for £98,000.00 and an salary example for £98,000.00 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
£98,000.00 Salary Comparison
WhatCurrent (2019)Boris £80k Higher Rate ThresholdiCalculator £30k Personal Allowance
Net Pay62531.4468870.4866370.48
Difference n/a6339.043839.04
Take Home63.81%70.28%67.72%

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: £98,000.00
  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 £98,000.00 (Current)

£98,000.00 Salary Example 2019/20 Tax Year
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income98,000.008,166.677,538.463,769.231,884.62387.3553.85100.00%
Adjusted Gross Income293,100.007,758.337,161.543,580.771,790.38367.9851.1595.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8712.76%
Company Pension: Employee4,900.00408.33376.92188.4694.2319.372.695.00%
Company Pension: Employer2,940.00245.00226.15113.0856.5411.621.623.00%
Taxable Pay80,600.006,716.676,200.003,100.001,550.00318.5844.2982.24%
Tax Due [PAYE]24,740.002,061.671,903.08951.54475.7797.7913.5925.24%
National Insurance5,828.56485.71448.35224.18112.0923.043.205.95%
Total Pay Deductions35,468.562,955.712,728.351,364.18682.09140.1919.4936.19%
Net Pay62,531.445,210.954,810.112,405.061,202.53247.1634.3663.81%

Employers NIC Contribution11,656.58971.38896.66448.33224.1746.076.4011.89%
Salary Package [Cost of Employee]112,596.589,383.058,661.284,330.642,165.32445.0561.87114.89%

1 Percentage expressed in relation to Gross Income [£93,100.00].

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2019 Salary Example for £98,000.00 (Planned by Boris Johnson)

£98,000.00 Salary Example 2019/20 Tax Year (Planned by Boris Johnson)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income98,000.008,166.677,538.463,769.231,884.62387.3553.85100.00%
Adjusted Gross Income293,100.007,758.337,161.543,580.771,790.38367.9851.1595.00%
Tax Free Personal Allowance12,500.001,041.67961.54480.77240.3849.416.8712.76%
Company Pension: Employee4,900.00408.33376.92188.4694.2319.372.695.00%
Company Pension: Employer2,940.00245.00226.15113.0856.5411.621.623.00%
Taxable Pay80,600.006,716.676,200.003,100.001,550.00318.5844.2982.24%
Tax Due [PAYE]18,740.001,561.671,441.54720.77360.3874.0710.3019.12%
National Insurance5,489.52457.46422.27211.14105.5721.703.025.60%
Total Pay Deductions29,129.522,427.462,240.731,120.37560.18115.1416.0129.72%
Net Pay68,870.485,739.215,297.732,648.861,324.43272.2237.8470.28%

Employers NIC Contribution11,685.29973.77898.87449.43224.7246.196.4211.92%
Salary Package [Cost of Employee]112,625.299,385.448,663.484,331.742,165.87445.1661.88114.92%

1 Percentage expressed in relation to Gross Income [£93,100.00].

2019 Salary Example for £98,000.00 (Suggested by iCalculator)

£98,000.00 Salary Example 2019/20 Tax Year (Suggested by iCalculator)
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Gross Income98,000.008,166.677,538.463,769.231,884.62387.3553.85100.00%
Adjusted Gross Income293,100.007,758.337,161.543,580.771,790.38367.9851.1595.00%
Tax Free Personal Allowance30,000.002,500.002,307.691,153.85576.92118.5816.4830.61%
Company Pension: Employee4,900.00408.33376.92188.4694.2319.372.695.00%
Company Pension: Employer2,940.00245.00226.15113.0856.5411.621.623.00%
Taxable Pay63,100.005,258.334,853.852,426.921,213.46249.4134.6764.39%
Tax Due [PAYE]21,240.001,770.001,633.85816.92408.4683.9511.6721.67%
National Insurance5,489.52457.46422.27211.14105.5721.703.025.60%
Total Pay Deductions31,629.522,635.792,433.041,216.52608.26125.0217.3832.28%
Net Pay66,370.485,530.875,105.422,552.711,276.36262.3336.4767.72%

Employers NIC Contribution11,685.29973.77898.87449.43224.7246.196.4211.92%
Salary Package [Cost of Employee]112,625.299,385.448,663.484,331.742,165.87445.1661.88114.92%

1 Percentage expressed in relation to Gross Income [£93,100.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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