Boris Johnson Tax Calculator - £ 57,000.00 Salary Example (£57K 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 £ 57,000.00 Salary (£57K Salary). The illustration also includes an overview of a current 2023 salary example for £ 57,000.00 and an salary example for £ 57,000.00 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.

£ 57,000.00 Salary Comparison

What	Current (2019)	Boris £80k Higher Rate Threshold	iCalculator™ £30k Personal Allowance
Net Pay	34940.44	38609.48	31779.48
Difference	n/a	3669.04	-3160.96
Take Home	61.30%	67.74%	55.75%

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: £ 57,000.00
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 £ 57,000.00 (Current)

£ 57,000.00 Salary Example 2023/24 Tax Year

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	57,000.00	4,750.00	4,384.62	2,192.31	1,096.15	225.30	31.32	100.00%
Adjusted Gross Income2	54,150.00	4,512.50	4,165.38	2,082.69	1,041.35	214.03	29.75	95.00%
Company Pension: Employee	2,850.00	237.50	219.23	109.62	54.81	11.26	1.57	5.00%
Company Pension: Employer	1,710.00	142.50	131.54	65.77	32.88	6.76	0.94	3.00%
Taxable Pay	54,150.00	4,512.50	4,165.38	2,082.69	1,041.35	214.03	29.75	95.00%
Tax Due [PAYE]	14,160.00	1,180.00	1,089.23	544.62	272.31	55.97	7.78	24.84%
National Insurance	5,049.56	420.80	388.43	194.21	97.11	19.96	2.77	8.86%
Total Pay Deductions	22,059.56	1,838.30	1,696.89	848.44	424.22	87.19	12.12	38.70%
Net Pay	34,940.44	2,911.70	2,687.73	1,343.86	671.93	138.10	19.20	61.30%
Employers NIC Contribution	6,281.48	523.46	483.19	241.60	120.80	24.83	3.45	11.02%
Salary Package [Cost of Employee]	64,991.48	5,415.96	4,999.34	2,499.67	1,249.84	256.88	35.71	114.02%

¹ Percentage expressed in relation to Gross Income [£ 54,150.00].

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2023 Salary Example for £ 57,000.00 (Planned by Boris Johnson)

£ 57,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	57,000.00	4,750.00	4,384.62	2,192.31	1,096.15	225.30	31.32	100.00%
Adjusted Gross Income2	54,150.00	4,512.50	4,165.38	2,082.69	1,041.35	214.03	29.75	95.00%
Company Pension: Employee	2,850.00	237.50	219.23	109.62	54.81	11.26	1.57	5.00%
Company Pension: Employer	1,710.00	142.50	131.54	65.77	32.88	6.76	0.94	3.00%
Taxable Pay	54,150.00	4,512.50	4,165.38	2,082.69	1,041.35	214.03	29.75	95.00%
Tax Due [PAYE]	10,830.00	902.50	833.08	416.54	208.27	42.81	5.95	19.00%
National Insurance	4,710.52	392.54	362.35	181.17	90.59	18.62	2.59	8.26%
Total Pay Deductions	18,390.52	1,532.54	1,414.66	707.33	353.66	72.69	10.10	32.26%
Net Pay	38,609.48	3,217.46	2,969.96	1,484.98	742.49	152.61	21.21	67.74%
Employers NIC Contribution	6,310.19	525.85	485.40	242.70	121.35	24.94	3.47	11.07%
Salary Package [Cost of Employee]	65,020.19	5,418.35	5,001.55	2,500.78	1,250.39	257.00	35.73	114.07%

¹ Percentage expressed in relation to Gross Income [£ 54,150.00].

2023 Salary Example for £ 57,000.00 (Suggested by iCalculator)

£ 57,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	57,000.00	4,750.00	4,384.62	2,192.31	1,096.15	225.30	31.32	100.00%
Adjusted Gross Income2	54,150.00	4,512.50	4,165.38	2,082.69	1,041.35	214.03	29.75	95.00%
Company Pension: Employee	2,850.00	237.50	219.23	109.62	54.81	11.26	1.57	5.00%
Company Pension: Employer	1,710.00	142.50	131.54	65.77	32.88	6.76	0.94	3.00%
Taxable Pay	54,150.00	4,512.50	4,165.38	2,082.69	1,041.35	214.03	29.75	95.00%
Tax Due [PAYE]	17,660.00	1,471.67	1,358.46	679.23	339.62	69.80	9.70	30.98%
National Insurance	4,710.52	392.54	362.35	181.17	90.59	18.62	2.59	8.26%
Total Pay Deductions	25,220.52	2,101.71	1,940.04	970.02	485.01	99.69	13.86	44.25%
Net Pay	31,779.48	2,648.29	2,444.58	1,222.29	611.14	125.61	17.46	55.75%
Employers NIC Contribution	6,310.19	525.85	485.40	242.70	121.35	24.94	3.47	11.07%
Salary Package [Cost of Employee]	65,020.19	5,418.35	5,001.55	2,500.78	1,250.39	257.00	35.73	114.07%

¹ Percentage expressed in relation to Gross Income [£ 54,150.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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