Boris Johnson Tax Calculator - £ 35,000.00 Salary Example (£35K 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 £ 35,000.00 Salary (£35K Salary). The illustration also includes an overview of a current 2023 salary example for £ 35,000.00 and an salary example for £ 35,000.00 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.

£ 35,000.00 Salary Comparison

What	Current (2019)	Boris £80k Higher Rate Threshold	iCalculator™ £30k Personal Allowance
Net Pay	23645.84	23620.88	20970.88
Difference	n/a	-24.959999999999	-2674.96
Take Home	67.56%	67.49%	59.92%

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: £ 35,000.00
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 £ 35,000.00 (Current)

£ 35,000.00 Salary Example 2023/24 Tax Year

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	35,000.00	2,916.67	2,692.31	1,346.15	673.08	138.34	19.23	100.00%
Adjusted Gross Income2	33,250.00	2,770.83	2,557.69	1,278.85	639.42	131.42	18.27	95.00%
Company Pension: Employee	1,750.00	145.83	134.62	67.31	33.65	6.92	0.96	5.00%
Company Pension: Employer	1,050.00	87.50	80.77	40.38	20.19	4.15	0.58	3.00%
Taxable Pay	33,250.00	2,770.83	2,557.69	1,278.85	639.42	131.42	18.27	95.00%
Tax Due [PAYE]	6,650.00	554.17	511.54	255.77	127.88	26.28	3.65	19.00%
National Insurance	2,954.16	246.18	227.24	113.62	56.81	11.68	1.62	8.44%
Total Pay Deductions	11,354.16	946.18	873.40	436.70	218.35	44.88	6.24	32.44%
Net Pay	23,645.84	1,970.49	1,818.91	909.46	454.73	93.46	12.99	67.56%
Employers NIC Contribution	3,397.28	283.11	261.33	130.66	65.33	13.43	1.87	9.71%
Salary Package [Cost of Employee]	39,447.28	3,287.27	3,034.41	1,517.20	758.60	155.92	21.67	112.71%

¹ Percentage expressed in relation to Gross Income [£ 33,250.00].

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2023 Salary Example for £ 35,000.00 (Planned by Boris Johnson)

£ 35,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	35,000.00	2,916.67	2,692.31	1,346.15	673.08	138.34	19.23	100.00%
Adjusted Gross Income2	33,250.00	2,770.83	2,557.69	1,278.85	639.42	131.42	18.27	95.00%
Company Pension: Employee	1,750.00	145.83	134.62	67.31	33.65	6.92	0.96	5.00%
Company Pension: Employer	1,050.00	87.50	80.77	40.38	20.19	4.15	0.58	3.00%
Taxable Pay	33,250.00	2,770.83	2,557.69	1,278.85	639.42	131.42	18.27	95.00%
Tax Due [PAYE]	6,650.00	554.17	511.54	255.77	127.88	26.28	3.65	19.00%
National Insurance	2,979.12	248.26	229.16	114.58	57.29	11.78	1.64	8.51%
Total Pay Deductions	11,379.12	948.26	875.32	437.66	218.83	44.98	6.25	32.51%
Net Pay	23,620.88	1,968.41	1,816.99	908.50	454.25	93.36	12.98	67.49%
Employers NIC Contribution	3,425.99	285.50	263.54	131.77	65.88	13.54	1.88	9.79%
Salary Package [Cost of Employee]	39,475.99	3,289.67	3,036.61	1,518.31	759.15	156.03	21.69	112.79%

¹ Percentage expressed in relation to Gross Income [£ 33,250.00].

2023 Salary Example for £ 35,000.00 (Suggested by iCalculator)

£ 35,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	35,000.00	2,916.67	2,692.31	1,346.15	673.08	138.34	19.23	100.00%
Adjusted Gross Income2	33,250.00	2,770.83	2,557.69	1,278.85	639.42	131.42	18.27	95.00%
Company Pension: Employee	1,750.00	145.83	134.62	67.31	33.65	6.92	0.96	5.00%
Company Pension: Employer	1,050.00	87.50	80.77	40.38	20.19	4.15	0.58	3.00%
Taxable Pay	33,250.00	2,770.83	2,557.69	1,278.85	639.42	131.42	18.27	95.00%
Tax Due [PAYE]	9,300.00	775.00	715.38	357.69	178.85	36.76	5.11	26.57%
National Insurance	2,979.12	248.26	229.16	114.58	57.29	11.78	1.64	8.51%
Total Pay Deductions	14,029.12	1,169.09	1,079.16	539.58	269.79	55.45	7.71	40.08%
Net Pay	20,970.88	1,747.57	1,613.14	806.57	403.29	82.89	11.52	59.92%
Employers NIC Contribution	3,425.99	285.50	263.54	131.77	65.88	13.54	1.88	9.79%
Salary Package [Cost of Employee]	39,475.99	3,289.67	3,036.61	1,518.31	759.15	156.03	21.69	112.79%

¹ Percentage expressed in relation to Gross Income [£ 33,250.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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