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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 2023 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.
| What | Current (2019) | Boris £80k Higher Rate Threshold | iCalculator™ £30k Personal Allowance |
|---|---|---|---|
| Net Pay | 57531.44 | 63870.48 | 54370.48 |
| Difference | n/a | 6339.04 | -3160.96 |
| Take Home | 58.71% | 65.17% | 55.48% |
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: £ 98,000.00
- 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 £ 98,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 98,000.00 | 8,166.67 | 7,538.46 | 3,769.23 | 1,884.62 | 387.35 | 53.85 | 100.00% |
| Adjusted Gross Income2 | 93,100.00 | 7,758.33 | 7,161.54 | 3,580.77 | 1,790.38 | 367.98 | 51.15 | 95.00% |
| Company Pension: Employee | 4,900.00 | 408.33 | 376.92 | 188.46 | 94.23 | 19.37 | 2.69 | 5.00% |
| Company Pension: Employer | 2,940.00 | 245.00 | 226.15 | 113.08 | 56.54 | 11.62 | 1.62 | 3.00% |
| Taxable Pay | 93,100.00 | 7,758.33 | 7,161.54 | 3,580.77 | 1,790.38 | 367.98 | 51.15 | 95.00% |
| Tax Due [PAYE] | 29,740.00 | 2,478.33 | 2,287.69 | 1,143.85 | 571.92 | 117.55 | 16.34 | 30.35% |
| National Insurance | 5,828.56 | 485.71 | 448.35 | 224.18 | 112.09 | 23.04 | 3.20 | 5.95% |
| Total Pay Deductions | 40,468.56 | 3,372.38 | 3,112.97 | 1,556.48 | 778.24 | 159.95 | 22.24 | 41.29% |
| Net Pay | 57,531.44 | 4,794.29 | 4,425.50 | 2,212.75 | 1,106.37 | 227.40 | 31.61 | 58.71% |
| Employers NIC Contribution | 11,656.58 | 971.38 | 896.66 | 448.33 | 224.17 | 46.07 | 6.40 | 11.89% |
| Salary Package [Cost of Employee] | 112,596.58 | 9,383.05 | 8,661.28 | 4,330.64 | 2,165.32 | 445.05 | 61.87 | 114.89% |
1 Percentage expressed in relation to Gross Income [£ 93,100.00].
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2023 Salary Example for £ 98,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 98,000.00 | 8,166.67 | 7,538.46 | 3,769.23 | 1,884.62 | 387.35 | 53.85 | 100.00% |
| Adjusted Gross Income2 | 93,100.00 | 7,758.33 | 7,161.54 | 3,580.77 | 1,790.38 | 367.98 | 51.15 | 95.00% |
| Company Pension: Employee | 4,900.00 | 408.33 | 376.92 | 188.46 | 94.23 | 19.37 | 2.69 | 5.00% |
| Company Pension: Employer | 2,940.00 | 245.00 | 226.15 | 113.08 | 56.54 | 11.62 | 1.62 | 3.00% |
| Taxable Pay | 93,100.00 | 7,758.33 | 7,161.54 | 3,580.77 | 1,790.38 | 367.98 | 51.15 | 95.00% |
| Tax Due [PAYE] | 23,740.00 | 1,978.33 | 1,826.15 | 913.08 | 456.54 | 93.83 | 13.04 | 24.22% |
| National Insurance | 5,489.52 | 457.46 | 422.27 | 211.14 | 105.57 | 21.70 | 3.02 | 5.60% |
| Total Pay Deductions | 34,129.52 | 2,844.13 | 2,625.35 | 1,312.67 | 656.34 | 134.90 | 18.75 | 34.83% |
| Net Pay | 63,870.48 | 5,322.54 | 4,913.11 | 2,456.56 | 1,228.28 | 252.45 | 35.09 | 65.17% |
| Employers NIC Contribution | 11,685.29 | 973.77 | 898.87 | 449.43 | 224.72 | 46.19 | 6.42 | 11.92% |
| Salary Package [Cost of Employee] | 112,625.29 | 9,385.44 | 8,663.48 | 4,331.74 | 2,165.87 | 445.16 | 61.88 | 114.92% |
1 Percentage expressed in relation to Gross Income [£ 93,100.00].
2023 Salary Example for £ 98,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 98,000.00 | 8,166.67 | 7,538.46 | 3,769.23 | 1,884.62 | 387.35 | 53.85 | 100.00% |
| Adjusted Gross Income2 | 93,100.00 | 7,758.33 | 7,161.54 | 3,580.77 | 1,790.38 | 367.98 | 51.15 | 95.00% |
| Company Pension: Employee | 4,900.00 | 408.33 | 376.92 | 188.46 | 94.23 | 19.37 | 2.69 | 5.00% |
| Company Pension: Employer | 2,940.00 | 245.00 | 226.15 | 113.08 | 56.54 | 11.62 | 1.62 | 3.00% |
| Taxable Pay | 93,100.00 | 7,758.33 | 7,161.54 | 3,580.77 | 1,790.38 | 367.98 | 51.15 | 95.00% |
| Tax Due [PAYE] | 33,240.00 | 2,770.00 | 2,556.92 | 1,278.46 | 639.23 | 131.38 | 18.26 | 33.92% |
| National Insurance | 5,489.52 | 457.46 | 422.27 | 211.14 | 105.57 | 21.70 | 3.02 | 5.60% |
| Total Pay Deductions | 43,629.52 | 3,635.79 | 3,356.12 | 1,678.06 | 839.03 | 172.45 | 23.97 | 44.52% |
| Net Pay | 54,370.48 | 4,530.87 | 4,182.34 | 2,091.17 | 1,045.59 | 214.90 | 29.87 | 55.48% |
| Employers NIC Contribution | 11,685.29 | 973.77 | 898.87 | 449.43 | 224.72 | 46.19 | 6.42 | 11.92% |
| Salary Package [Cost of Employee] | 112,625.29 | 9,385.44 | 8,663.48 | 4,331.74 | 2,165.87 | 445.16 | 61.88 | 114.92% |
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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