Profit
What you took in, less your allowable business costs - or the £1,000 trading allowance instead, if your costs are smaller.
Free self-employed tax calculator
How much tax will you pay as a sole trader?
Enter what your business took in and what it cost, and see your Income Tax and Class 4 National Insurance for the year, when it is due, and what you keep - with every step of the working, on HMRC's rates. No email, no sign-up.
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How it is worked out
On your profit, not your takings.
Income Tax
Your profit and any wages, less your personal allowance of £12,570, then 20%, 40% and 45% in England, Wales and Northern Ireland, and Scotland's own bands in Scotland.
National Insurance
Class 4: 6% of your profit between £12,570 and £50,270, and 2% above. Class 2 is no longer charged; you can choose to pay it voluntarily.
Due by 31 January after the tax year, with payments on account towards the next year if the bill is £1,000 or more - how they work. HMRC's rates: Income Tax rates and allowances.
What Stoneledger does
Your tax as you go, not in January.
- Your profit from your own records, with every cost opening onto the invoices behind it.
- The tax for the year as it builds, and what to put aside each month.
- Every figure explains itself: click it, or right-click it for the same answer in words.
Know your tax all year, not just in January.
The same calculation, inside your books, updated with every invoice.