Self Employed Tax Calculator

Use our calculator to determine your self-employment taxes. See The Experlu Self Employed Tax Calculator for more.
Take home with sole trader
Income Tax£0.00
Class 2 NI£0.00
Class 4 NI£0.00
Net Liability£0.00
How does this calculator work?

Calculate your take-home income, National Insurance Contributions (NIC), and income tax using Experlu's self-employment Income Tax calculator.

  •  -Enter your annual sales.

  • - Enter your allowable annual business expenses.
  • - The Self-employed income calculator will then calculate your annual profit before taxes, the amount of income tax and class 2 & 4 NIC, all while considering the standard tax free allowance levels. 

  • You can use the estimated numbers of you are preparing a budget, cash flow forecast.

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Related FAQ's

Class 2 Insurance is liked to the time period you have been self-employed whereas Class 4 is linked to your business profits.   

The tax year in the UK runs from 06 April till 5 April next year. As a sole trader, you file a self-assessment tax return annually. Deadline is 31 January if submitting online or 31 October if submitting by paper.   

Self Assessment is HMRC's way to find out how much income tax and National Insurance an individual owes on any income which is not taxed at source. 

There are 5 easy steps:

1. Register for self-assessment- online or by post. 

2. Setup a Government gateway account and activate online filing services.  

3. Compute your business profits. Make sure you claim all available allowances

4. Log in to your government gateway account and input all numbers in relevant fields. 

5. Review and submit the tax return. 

No, there’s virtually no chance of scam jobs posted on our platform. Because after receiving a new job query, our team makes a phone call with the customers asking several questions, including their budget, timeframe, and expectations. This way, we can filter out scam jobs. However, Experlu has no control over people changing their minds.

Self Employed Tax Calculator UK

People can now work at their own pace and under their conditions thanks to modern technology. Given the ease with which you can earn money without dealing with limiting circumstances, there has been a noteworthy increase in the number of freelancers throughout the country. Freelancers value the idea that they are their bosses, drawing an increasing number of people away from regular jobs and into a new style of working.

Of course, there are several technicalities to consider before diving headfirst into freelancing. You'll need to think about how to calculate your Self-employed taxes in addition to setting up a good work area.

How to calculate self-employed income tax?

You can use Uk self-employed calculator and follow these steps:

Estimate your take-home income after business expenses, National Insurance contributions, and income tax using Experlu's self-employment Income Tax calculator:

  • - Fill in the self-employed calculator with your gross annual income. If your income fluctuates, the best method is to take an average over a few months.
  • - Calculate and enter all of your allowable business expenses.

The self-employed income calculator will then calculate your profit before tax, as well as the estimated amount of income tax and national insurance you'll have to pay, all while taking into account the standard tax-free allowance levels.