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Self-employed individuals in the UK pay Income Tax and two types of National Insurance (Class 2 and Class 4) on their trading profits. Unlike employees, there is no PAYE — tax is paid via Self Assessment, typically in two payments on account (31 January and 31 July) plus a balancing payment.
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- 1Income Tax is the same as for employees: 20% basic, 40% higher, 45% additional rate
- 2Class 4 NI: 9% on profits between £12,570–£50,270, then 2% above £50,270
- 3Class 2 NI: £3.45 per week (£179.40/year) if profits exceed £12,570 — contributes to state pension
- 4First Self Assessment deadline: 31 January following the tax year end
- 5Allowable expenses reduce taxable profit: tools, phone, vehicle (business %), home office, training
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What is Self Employed Tax?
Self-employed individuals in the UK pay Income Tax and two types of National Insurance (Class 2 and Class 4) on their trading profits. Unlike employees, there is no PAYE — tax is paid via Self Assessment, typically in two payments on account (31 January and 31 July) plus a balancing payment
How accurate is the Self Employed Tax calculator?
The calculator uses the standard published formula for self employed tax. Results are accurate to the precision of the inputs you provide. For financial, medical, or legal decisions, always verify with a qualified professional.
What units does the Self Employed Tax calculator use?
This calculator works with inches, British pounds, percentages. You can enter values in the units shown — the calculator handles all conversions internally.
What formula does the Self Employed Tax calculator use?
The calculator applies the standard formula for this type of calculation. See the 'How It Works' steps above for the detailed formula breakdown.
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