Boris Johnson Tax Calculator - £ 95,000.00 Salary Example (£95K 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 £ 95,000.00 Salary (£95K Salary). The illustration also includes an overview of a current 2023 salary example for £ 95,000.00 and an salary example for £ 95,000.00 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.

£ 95,000.00 Salary Comparison

What	Current (2019)	Boris £80k Higher Rate Threshold	iCalculator™ £30k Personal Allowance
Net Pay	55878.44	62217.48	52717.48
Difference	n/a	6339.04	-3160.96
Take Home	58.82%	65.49%	55.49%

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: £ 95,000.00
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 £ 95,000.00 (Current)

£ 95,000.00 Salary Example 2023/24 Tax Year

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	95,000.00	7,916.67	7,307.69	3,653.85	1,826.92	375.49	52.20	100.00%
Adjusted Gross Income2	90,250.00	7,520.83	6,942.31	3,471.15	1,735.58	356.72	49.59	95.00%
Company Pension: Employee	4,750.00	395.83	365.38	182.69	91.35	18.77	2.61	5.00%
Company Pension: Employer	2,850.00	237.50	219.23	109.62	54.81	11.26	1.57	3.00%
Taxable Pay	90,250.00	7,520.83	6,942.31	3,471.15	1,735.58	356.72	49.59	95.00%
Tax Due [PAYE]	28,600.00	2,383.33	2,200.00	1,100.00	550.00	113.04	15.71	30.11%
National Insurance	5,771.56	480.96	443.97	221.98	110.99	22.81	3.17	6.08%
Total Pay Deductions	39,121.56	3,260.13	3,009.35	1,504.68	752.34	154.63	21.50	41.18%
Net Pay	55,878.44	4,656.54	4,298.34	2,149.17	1,074.59	220.86	30.70	58.82%
Employers NIC Contribution	11,263.28	938.61	866.41	433.20	216.60	44.52	6.19	11.86%
Salary Package [Cost of Employee]	109,113.28	9,092.77	8,393.33	4,196.66	2,098.33	431.28	59.95	114.86%

¹ Percentage expressed in relation to Gross Income [£ 90,250.00].

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2023 Salary Example for £ 95,000.00 (Planned by Boris Johnson)

£ 95,000.00 Salary Example 2023/24 Tax Year (Planned by Boris Johnson)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	95,000.00	7,916.67	7,307.69	3,653.85	1,826.92	375.49	52.20	100.00%
Adjusted Gross Income2	90,250.00	7,520.83	6,942.31	3,471.15	1,735.58	356.72	49.59	95.00%
Company Pension: Employee	4,750.00	395.83	365.38	182.69	91.35	18.77	2.61	5.00%
Company Pension: Employer	2,850.00	237.50	219.23	109.62	54.81	11.26	1.57	3.00%
Taxable Pay	90,250.00	7,520.83	6,942.31	3,471.15	1,735.58	356.72	49.59	95.00%
Tax Due [PAYE]	22,600.00	1,883.33	1,738.46	869.23	434.62	89.33	12.42	23.79%
National Insurance	5,432.52	452.71	417.89	208.94	104.47	21.47	2.98	5.72%
Total Pay Deductions	32,782.52	2,731.88	2,521.73	1,260.87	630.43	129.58	18.01	34.51%
Net Pay	62,217.48	5,184.79	4,785.96	2,392.98	1,196.49	245.92	34.19	65.49%
Employers NIC Contribution	11,291.99	941.00	868.61	434.31	217.15	44.63	6.20	11.89%
Salary Package [Cost of Employee]	109,141.99	9,095.17	8,395.54	4,197.77	2,098.88	431.39	59.97	114.89%

¹ Percentage expressed in relation to Gross Income [£ 90,250.00].

2023 Salary Example for £ 95,000.00 (Suggested by iCalculator)

£ 95,000.00 Salary Example 2023/24 Tax Year (Suggested by iCalculator)

	Yearly	Monthly	4 Weekly	2 Weekly	Weekly	Daily	Hourly	%1
Gross Income	95,000.00	7,916.67	7,307.69	3,653.85	1,826.92	375.49	52.20	100.00%
Adjusted Gross Income2	90,250.00	7,520.83	6,942.31	3,471.15	1,735.58	356.72	49.59	95.00%
Company Pension: Employee	4,750.00	395.83	365.38	182.69	91.35	18.77	2.61	5.00%
Company Pension: Employer	2,850.00	237.50	219.23	109.62	54.81	11.26	1.57	3.00%
Taxable Pay	90,250.00	7,520.83	6,942.31	3,471.15	1,735.58	356.72	49.59	95.00%
Tax Due [PAYE]	32,100.00	2,675.00	2,469.23	1,234.62	617.31	126.88	17.64	33.79%
National Insurance	5,432.52	452.71	417.89	208.94	104.47	21.47	2.98	5.72%
Total Pay Deductions	42,282.52	3,523.54	3,252.50	1,626.25	813.13	167.12	23.23	44.51%
Net Pay	52,717.48	4,393.12	4,055.19	2,027.60	1,013.80	208.37	28.97	55.49%
Employers NIC Contribution	11,291.99	941.00	868.61	434.31	217.15	44.63	6.20	11.89%
Salary Package [Cost of Employee]	109,141.99	9,095.17	8,395.54	4,197.77	2,098.88	431.39	59.97	114.89%

¹ Percentage expressed in relation to Gross Income [£ 90,250.00].

Further Reading

Boris Johnsons Plan for changes to the Higher Rate Tax Threshold

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