As a self-employed individual you need to track your tax and national insurance liability to ensure you have enough saved to pay your annual self-assessment tax bill. Use the self-employed calculator to estimate your annual tax and NI liability.
UK Self-Employed Tax and National Insurance Calculator
The UK self-employed tax and national insurance calculator is only suitable for individuals with tax codes ending in L, P, T, Y, M, or N and taxable incomes up to £100,000. When entering your tax code, omit the letter and enter only the numbers.
Self-employed individuals or sole traders in the UK are required to keep the following records and submit an annual self-assessment tax return to HMRC:
- All sales and income received
- All business expenses
- VAT records if you are registered for VAT
- PAYE records if you employ staff
- Details of any other personal income
You must submit your self assessment tax return to HMRC by 31st of January of the following tax year. For example, the tax return for the tax year 6th April 2025 to 5th April 2026, must be submitted to HMRC by 31st January 2027, along with any outstanding tax.
You can find out more about record keeping for the self-employed on HMRC's website: Business records if you're self-employed
To learn more about tax and national insurance for the self-employed, have a look at our sister site, Moneyquids.co.uk, which has some helpful resources: Tax and NI for Self-Employed - Moneyquids
