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Boris Johnson Tax Calculator - £ 94,000.00 Salary Example (£94K 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 £ 94,000.00 Salary (£94K Salary). The illustration also includes an overview of a current 2023 salary example for £ 94,000.00 and an salary example for £ 94,000.00 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 | 55327.44 | 61666.48 | 52166.48 |
| Difference | n/a | 6339.04 | -3160.96 |
| Take Home | 58.86% | 65.60% | 55.50% |
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: £ 94,000.00
- 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 £ 94,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 94,000.00 | 7,833.33 | 7,230.77 | 3,615.38 | 1,807.69 | 371.54 | 51.65 | 100.00% |
| Adjusted Gross Income2 | 89,300.00 | 7,441.67 | 6,869.23 | 3,434.62 | 1,717.31 | 352.96 | 49.07 | 95.00% |
| Company Pension: Employee | 4,700.00 | 391.67 | 361.54 | 180.77 | 90.38 | 18.58 | 2.58 | 5.00% |
| Company Pension: Employer | 2,820.00 | 235.00 | 216.92 | 108.46 | 54.23 | 11.15 | 1.55 | 3.00% |
| Taxable Pay | 89,300.00 | 7,441.67 | 6,869.23 | 3,434.62 | 1,717.31 | 352.96 | 49.07 | 95.00% |
| Tax Due [PAYE] | 28,220.00 | 2,351.67 | 2,170.77 | 1,085.38 | 542.69 | 111.54 | 15.51 | 30.02% |
| National Insurance | 5,752.56 | 479.38 | 442.50 | 221.25 | 110.63 | 22.74 | 3.16 | 6.12% |
| Total Pay Deductions | 38,672.56 | 3,222.71 | 2,974.81 | 1,487.41 | 743.70 | 152.86 | 21.25 | 41.14% |
| Net Pay | 55,327.44 | 4,610.62 | 4,255.96 | 2,127.98 | 1,063.99 | 218.69 | 30.40 | 58.86% |
| Employers NIC Contribution | 11,132.18 | 927.68 | 856.32 | 428.16 | 214.08 | 44.00 | 6.12 | 11.84% |
| Salary Package [Cost of Employee] | 107,952.18 | 8,996.02 | 8,304.01 | 4,152.01 | 2,076.00 | 426.69 | 59.31 | 114.84% |
1 Percentage expressed in relation to Gross Income [£ 89,300.00].
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2023 Salary Example for £ 94,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 94,000.00 | 7,833.33 | 7,230.77 | 3,615.38 | 1,807.69 | 371.54 | 51.65 | 100.00% |
| Adjusted Gross Income2 | 89,300.00 | 7,441.67 | 6,869.23 | 3,434.62 | 1,717.31 | 352.96 | 49.07 | 95.00% |
| Company Pension: Employee | 4,700.00 | 391.67 | 361.54 | 180.77 | 90.38 | 18.58 | 2.58 | 5.00% |
| Company Pension: Employer | 2,820.00 | 235.00 | 216.92 | 108.46 | 54.23 | 11.15 | 1.55 | 3.00% |
| Taxable Pay | 89,300.00 | 7,441.67 | 6,869.23 | 3,434.62 | 1,717.31 | 352.96 | 49.07 | 95.00% |
| Tax Due [PAYE] | 22,220.00 | 1,851.67 | 1,709.23 | 854.62 | 427.31 | 87.83 | 12.21 | 23.64% |
| National Insurance | 5,413.52 | 451.13 | 416.42 | 208.21 | 104.11 | 21.40 | 2.97 | 5.76% |
| Total Pay Deductions | 32,333.52 | 2,694.46 | 2,487.19 | 1,243.60 | 621.80 | 127.80 | 17.77 | 34.40% |
| Net Pay | 61,666.48 | 5,138.87 | 4,743.58 | 2,371.79 | 1,185.89 | 243.74 | 33.88 | 65.60% |
| Employers NIC Contribution | 11,160.89 | 930.07 | 858.53 | 429.26 | 214.63 | 44.11 | 6.13 | 11.87% |
| Salary Package [Cost of Employee] | 107,980.89 | 8,998.41 | 8,306.22 | 4,153.11 | 2,076.56 | 426.80 | 59.33 | 114.87% |
1 Percentage expressed in relation to Gross Income [£ 89,300.00].
2023 Salary Example for £ 94,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 94,000.00 | 7,833.33 | 7,230.77 | 3,615.38 | 1,807.69 | 371.54 | 51.65 | 100.00% |
| Adjusted Gross Income2 | 89,300.00 | 7,441.67 | 6,869.23 | 3,434.62 | 1,717.31 | 352.96 | 49.07 | 95.00% |
| Company Pension: Employee | 4,700.00 | 391.67 | 361.54 | 180.77 | 90.38 | 18.58 | 2.58 | 5.00% |
| Company Pension: Employer | 2,820.00 | 235.00 | 216.92 | 108.46 | 54.23 | 11.15 | 1.55 | 3.00% |
| Taxable Pay | 89,300.00 | 7,441.67 | 6,869.23 | 3,434.62 | 1,717.31 | 352.96 | 49.07 | 95.00% |
| Tax Due [PAYE] | 31,720.00 | 2,643.33 | 2,440.00 | 1,220.00 | 610.00 | 125.38 | 17.43 | 33.74% |
| National Insurance | 5,413.52 | 451.13 | 416.42 | 208.21 | 104.11 | 21.40 | 2.97 | 5.76% |
| Total Pay Deductions | 41,833.52 | 3,486.13 | 3,217.96 | 1,608.98 | 804.49 | 165.35 | 22.99 | 44.50% |
| Net Pay | 52,166.48 | 4,347.21 | 4,012.81 | 2,006.40 | 1,003.20 | 206.19 | 28.66 | 55.50% |
| Employers NIC Contribution | 11,160.89 | 930.07 | 858.53 | 429.26 | 214.63 | 44.11 | 6.13 | 11.87% |
| Salary Package [Cost of Employee] | 107,980.89 | 8,998.41 | 8,306.22 | 4,153.11 | 2,076.56 | 426.80 | 59.33 | 114.87% |
1 Percentage expressed in relation to Gross Income [£ 89,300.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
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