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How much tax should I put aside? Self-employed calculator

Enter what your work brings in and what it costs. See what to save each month for Income Tax, National Insurance and student loan. Free, and nothing you type is saved.

Tax year

For the whole year, before costs

Materials, fuel, phone, insurance… Leave blank if you're not sure.

Before tax. We assume your employer takes the right tax.

Where do you live?

Your monthly figure will appear here.

Enter what your work brings in. We'll work out Income Tax, Class 4 National Insurance and any student loan on your profit.

Common questions

How much tax do I pay when I'm self-employed?
On your profit (money in minus allowable costs): Income Tax at 20% above the £12,570 personal allowance, rising to 40% and 45% on higher profits, plus Class 4 National Insurance at 6% from £12,570 to £50,270 and 2% above. Scotland has its own Income Tax bands.
What percentage should I put aside for tax?
Many sole traders put aside 20 to 30% of their profit, but it depends on how much you make and whether you also have a job. The calculator works out your own figure.
What are payments on account?
If your Self Assessment bill is over £1,000, HMRC usually asks for two advance payments towards next year's tax, each half of this year's bill, due on 31 January and 31 July. In the first year, that makes the January bill bigger than people expect.
I have a job too. How much do I put aside?
Your employer takes tax on your wages through PAYE, so you only need to save for the extra tax your business adds. Because your wages use up your personal allowance, that's usually at least 20% of your profit, plus Class 4 National Insurance if your profit is over the threshold.

Earning over £20,000? Check when Making Tax Digital starts for you. Selling online? Check if your sales are taxed.