Free tool, 2026/27
What will I actually keep from my profit?
Enter your yearly self-employment income and your allowable expenses, and see the profit, the income tax, the Class 4 National Insurance, what you keep, and what January could really look like once payments on account start.
Your turnover for a full tax year, before any expenses.
Costs you incur wholly and exclusively for the business.
Tax bands for 2026/27
| Band | Income | Rate |
|---|---|---|
| Personal allowance | Up to £12,570 | 0% |
| Basic rate | £12,571 to £50,270 | 20% |
| Higher rate | £50,271 to £125,140 | 40% |
| Additional rate | Over £125,140 | 45% |
| Class 4 NI | Profits £12,570 to £50,270 | 6% |
| Class 4 NI | Profits over £50,270 | 2% |
The personal allowance is reduced by £1 for every £2 of income over £100,000.
All rates and allowancesAssumes self-employment is your only income, England, Wales or Northern Ireland rates for 2026/27, and no pension contributions, student loan or other reliefs. Scotland has its own income tax bands.
You keep
£0
a year, about £0 a month
- Income
- £0
- Allowable expenses
- £0
- Profit
- £0
- Personal allowance (tax-free)For information. Income tax below already allows for it.
- £12,570
- Income tax
- £0
- Class 4 National Insurance
- £0
- Total tax bill for the year
- £0
An estimate, not advice about your situation.
How it works
What this does, and what it assumes.
The calculator takes your income and allowable expenses for the year and works out your profit. It applies the personal allowance and the income tax bands for England, Wales and Northern Ireland to that profit, then adds Class 4 National Insurance on the same figure. Once you enter an income it also tells you whether Making Tax Digital for Income Tax applies, because that test uses your income before expenses.
It assumes self-employment is your only income and that you have no pension contributions, student loan or other reliefs. Each of those changes the figure, some of them considerably, which is exactly what a proper return takes into account.
Payments on account apply when your Self-Assessment bill is £1,000 or more and less than 80% of your tax was taken at source. In the first year they apply, the January payment can be the whole year's bill plus half of it again.
Rates for 2026/27, last checked against GOV.UK on 30 September 2026. See every rate. Reviewed by Lewis Wright, AAT licensed accountant.
Questions
Asked and answered.
Do I pay Class 2 National Insurance?
Not in the usual way any more. Since April 2024, self-employed people with profits above the small profits threshold are treated as having paid Class 2, so it no longer appears on the bill. Class 4 is still due on profits over the lower limit.
How much should I set aside for tax?
The calculator shows a monthly figure that covers the year's bill. Putting that aside each month, in a separate account, is the simplest way to make January a non-event.
What counts as profit?
Your self-employed income minus allowable expenses: costs incurred wholly and exclusively for the business. Getting the expenses right is usually where an accountant earns their fee.
Accountancy for sole tradersWant a straight answer for your own figures?
The tools give you the general picture. A free 30-minute consultation gives you the answer for your business.
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