Boris Johnson Tax Calculator - £ 10,000.00 Salary Example (£10K 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 £ 10,000.00 Salary (£10K Salary). The illustration also includes an overview of a current 2023 salary example for £ 10,000.00 and an salary example for £ 10,000.00 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.

£ 10,000.00 Salary Comparison

What	Current (2019)	Boris £80k Higher Rate Threshold	iCalculator™ £30k Personal Allowance
Net Pay	7495.84	7470.88	7470.88
Difference	n/a	-24.96	-24.96
Take Home	74.96%	74.71%	74.71%

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: £ 10,000.00
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)

2023 Salary Example for £ 10,000.00 (Current)

£ 10,000.00 Salary Example 2023/24 Tax Year

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	10,000.00	833.33	769.23	384.62	192.31	39.53	5.49	100.00%
Adjusted Gross Income2	9,500.00	791.67	730.77	365.38	182.69	37.55	5.22	95.00%
Company Pension: Employee	500.00	41.67	38.46	19.23	9.62	1.98	0.27	5.00%
Company Pension: Employer	300.00	25.00	23.08	11.54	5.77	1.19	0.16	3.00%
Taxable Pay	9,500.00	791.67	730.77	365.38	182.69	37.55	5.22	95.00%
Tax Due [PAYE]	1,900.00	158.33	146.15	73.08	36.54	7.51	1.04	19.00%
National Insurance	104.16	8.68	8.01	4.01	2.00	0.41	0.06	1.04%
Total Pay Deductions	2,504.16	208.68	192.63	96.31	48.16	9.90	1.38	25.04%
Net Pay	7,495.84	624.65	576.60	288.30	144.15	29.63	4.12	74.96%
Employers NIC Contribution	119.78	9.98	9.21	4.61	2.30	0.47	0.07	1.20%
Salary Package [Cost of Employee]	10,419.78	868.32	801.52	400.76	200.38	41.18	5.73	104.20%

¹ Percentage expressed in relation to Gross Income [£ 9,500.00].

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2023 Salary Example for £ 10,000.00 (Planned by Boris Johnson)

£ 10,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	10,000.00	833.33	769.23	384.62	192.31	39.53	5.49	100.00%
Adjusted Gross Income2	9,500.00	791.67	730.77	365.38	182.69	37.55	5.22	95.00%
Company Pension: Employee	500.00	41.67	38.46	19.23	9.62	1.98	0.27	5.00%
Company Pension: Employer	300.00	25.00	23.08	11.54	5.77	1.19	0.16	3.00%
Taxable Pay	9,500.00	791.67	730.77	365.38	182.69	37.55	5.22	95.00%
Tax Due [PAYE]	1,900.00	158.33	146.15	73.08	36.54	7.51	1.04	19.00%
National Insurance	129.12	10.76	9.93	4.97	2.48	0.51	0.07	1.29%
Total Pay Deductions	2,529.12	210.76	194.55	97.27	48.64	10.00	1.39	25.29%
Net Pay	7,470.88	622.57	574.68	287.34	143.67	29.53	4.10	74.71%
Employers NIC Contribution	148.49	12.37	11.42	5.71	2.86	0.59	0.08	1.48%
Salary Package [Cost of Employee]	10,448.49	870.71	803.73	401.86	200.93	41.30	5.74	104.48%

¹ Percentage expressed in relation to Gross Income [£ 9,500.00].

2023 Salary Example for £ 10,000.00 (Suggested by iCalculator)

£ 10,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	10,000.00	833.33	769.23	384.62	192.31	39.53	5.49	100.00%
Adjusted Gross Income2	9,500.00	791.67	730.77	365.38	182.69	37.55	5.22	95.00%
Company Pension: Employee	500.00	41.67	38.46	19.23	9.62	1.98	0.27	5.00%
Company Pension: Employer	300.00	25.00	23.08	11.54	5.77	1.19	0.16	3.00%
Taxable Pay	9,500.00	791.67	730.77	365.38	182.69	37.55	5.22	95.00%
Tax Due [PAYE]	1,900.00	158.33	146.15	73.08	36.54	7.51	1.04	19.00%
National Insurance	129.12	10.76	9.93	4.97	2.48	0.51	0.07	1.29%
Total Pay Deductions	2,529.12	210.76	194.55	97.27	48.64	10.00	1.39	25.29%
Net Pay	7,470.88	622.57	574.68	287.34	143.67	29.53	4.10	74.71%
Employers NIC Contribution	148.49	12.37	11.42	5.71	2.86	0.59	0.08	1.48%
Salary Package [Cost of Employee]	10,448.49	870.71	803.73	401.86	200.93	41.30	5.74	104.48%

¹ Percentage expressed in relation to Gross Income [£ 9,500.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

Join the Discussion on Facebook, share your thoughts and feelings on Boris' plan.