Self-employed electricians are taxed on profit — invoices minus costs such as materials, tools, van running costs, insurance and certification. If you work under CIS, see the CIS calculator for your deductions and refund.
If your contractors deduct CIS from your pay, use the CIS tax calculator — it accounts for the deductions and your likely refund.
On your profit — income minus allowable expenses. You pay income tax above your personal allowance, plus Class 4 National Insurance on profit above the threshold.
Costs incurred wholly for your work — tools, materials, travel, phone, insurance and more. Keeping them recorded reduces your taxable profit.
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