Work out the tax on your self-employment for 2026/27. You're taxed on your profit — your income minus allowable expenses — with income tax above your £12,570 personal allowance plus Class 4 National Insurance.
Add a salary or pension if you have one, so your tax band is right.
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.
From April 2026, if your gross self-employment and property income combined is over £50,000 (£30,000 from 2027, £20,000 from 2028) you must keep digital records and file quarterly.
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