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Boris Johnson Tax Calculator - £ 87,000.00 Salary Example (£87K 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 £ 87,000.00 Salary (£87K Salary). The illustration also includes an overview of a current 2023 salary example for £ 87,000.00 and an salary example for £ 87,000.00 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 | 51470.44 | 57809.48 | 48309.48 |
| Difference | n/a | 6339.04 | -3160.96 |
| Take Home | 59.16% | 66.45% | 55.53% |
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: £ 87,000.00
- 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 £ 87,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 87,000.00 | 7,250.00 | 6,692.31 | 3,346.15 | 1,673.08 | 343.87 | 47.80 | 100.00% |
| Adjusted Gross Income2 | 82,650.00 | 6,887.50 | 6,357.69 | 3,178.85 | 1,589.42 | 326.68 | 45.41 | 95.00% |
| Company Pension: Employee | 4,350.00 | 362.50 | 334.62 | 167.31 | 83.65 | 17.19 | 2.39 | 5.00% |
| Company Pension: Employer | 2,610.00 | 217.50 | 200.77 | 100.38 | 50.19 | 10.32 | 1.43 | 3.00% |
| Taxable Pay | 82,650.00 | 6,887.50 | 6,357.69 | 3,178.85 | 1,589.42 | 326.68 | 45.41 | 95.00% |
| Tax Due [PAYE] | 25,560.00 | 2,130.00 | 1,966.15 | 983.08 | 491.54 | 101.03 | 14.04 | 29.38% |
| National Insurance | 5,619.56 | 468.30 | 432.27 | 216.14 | 108.07 | 22.21 | 3.09 | 6.46% |
| Total Pay Deductions | 35,529.56 | 2,960.80 | 2,733.04 | 1,366.52 | 683.26 | 140.43 | 19.52 | 40.84% |
| Net Pay | 51,470.44 | 4,289.20 | 3,959.26 | 1,979.63 | 989.82 | 203.44 | 28.28 | 59.16% |
| Employers NIC Contribution | 10,214.48 | 851.21 | 785.73 | 392.86 | 196.43 | 40.37 | 5.61 | 11.74% |
| Salary Package [Cost of Employee] | 99,824.48 | 8,318.71 | 7,678.81 | 3,839.40 | 1,919.70 | 394.56 | 54.85 | 114.74% |
1 Percentage expressed in relation to Gross Income [£ 82,650.00].
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2023 Salary Example for £ 87,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 87,000.00 | 7,250.00 | 6,692.31 | 3,346.15 | 1,673.08 | 343.87 | 47.80 | 100.00% |
| Adjusted Gross Income2 | 82,650.00 | 6,887.50 | 6,357.69 | 3,178.85 | 1,589.42 | 326.68 | 45.41 | 95.00% |
| Company Pension: Employee | 4,350.00 | 362.50 | 334.62 | 167.31 | 83.65 | 17.19 | 2.39 | 5.00% |
| Company Pension: Employer | 2,610.00 | 217.50 | 200.77 | 100.38 | 50.19 | 10.32 | 1.43 | 3.00% |
| Taxable Pay | 82,650.00 | 6,887.50 | 6,357.69 | 3,178.85 | 1,589.42 | 326.68 | 45.41 | 95.00% |
| Tax Due [PAYE] | 19,560.00 | 1,630.00 | 1,504.62 | 752.31 | 376.15 | 77.31 | 10.75 | 22.48% |
| National Insurance | 5,280.52 | 440.04 | 406.19 | 203.10 | 101.55 | 20.87 | 2.90 | 6.07% |
| Total Pay Deductions | 29,190.52 | 2,432.54 | 2,245.42 | 1,122.71 | 561.36 | 115.38 | 16.04 | 33.55% |
| Net Pay | 57,809.48 | 4,817.46 | 4,446.88 | 2,223.44 | 1,111.72 | 228.50 | 31.76 | 66.45% |
| Employers NIC Contribution | 10,243.19 | 853.60 | 787.94 | 393.97 | 196.98 | 40.49 | 5.63 | 11.77% |
| Salary Package [Cost of Employee] | 99,853.19 | 8,321.10 | 7,681.01 | 3,840.51 | 1,920.25 | 394.68 | 54.86 | 114.77% |
1 Percentage expressed in relation to Gross Income [£ 82,650.00].
2023 Salary Example for £ 87,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 87,000.00 | 7,250.00 | 6,692.31 | 3,346.15 | 1,673.08 | 343.87 | 47.80 | 100.00% |
| Adjusted Gross Income2 | 82,650.00 | 6,887.50 | 6,357.69 | 3,178.85 | 1,589.42 | 326.68 | 45.41 | 95.00% |
| Company Pension: Employee | 4,350.00 | 362.50 | 334.62 | 167.31 | 83.65 | 17.19 | 2.39 | 5.00% |
| Company Pension: Employer | 2,610.00 | 217.50 | 200.77 | 100.38 | 50.19 | 10.32 | 1.43 | 3.00% |
| Taxable Pay | 82,650.00 | 6,887.50 | 6,357.69 | 3,178.85 | 1,589.42 | 326.68 | 45.41 | 95.00% |
| Tax Due [PAYE] | 29,060.00 | 2,421.67 | 2,235.38 | 1,117.69 | 558.85 | 114.86 | 15.97 | 33.40% |
| National Insurance | 5,280.52 | 440.04 | 406.19 | 203.10 | 101.55 | 20.87 | 2.90 | 6.07% |
| Total Pay Deductions | 38,690.52 | 3,224.21 | 2,976.19 | 1,488.10 | 744.05 | 152.93 | 21.26 | 44.47% |
| Net Pay | 48,309.48 | 4,025.79 | 3,716.11 | 1,858.06 | 929.03 | 190.95 | 26.54 | 55.53% |
| Employers NIC Contribution | 10,243.19 | 853.60 | 787.94 | 393.97 | 196.98 | 40.49 | 5.63 | 11.77% |
| Salary Package [Cost of Employee] | 99,853.19 | 8,321.10 | 7,681.01 | 3,840.51 | 1,920.25 | 394.68 | 54.86 | 114.77% |
1 Percentage expressed in relation to Gross Income [£ 82,650.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
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