Sole Trader Tax Calculator
Find out exactly how much you can keep. Enter your freelance income and calculate your HMRC tax bill in real-time.
Your Details
Everything your clients paid you, before costs.
Software, travel, equipment directly related to work.
Entering this accurately models if your side hustle pushes you into the higher 40% tax bracket.
Tax Breakdown
Your Total Tax Bill
£626
Safe to Spend
£22,374
Effective Rate
2.7%
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How is my tax calculated?
As a sole trader in the UK, your tax bill is calculated based on your total Profit (Revenue minus Allowable Expenses). You are subjected to two primary taxes: Income Tax and National Insurance (NI).
What is "The Missing Class 2 NI"?
2026/2027 Tax Bands
- Personal Allowance: 0% on the first £12,570.
- Basic Rate: 20% on profit between £12,571 and £50,270.
- Higher Rate: 40% on profit from £50,271 to £125,140.