Self-Employed Tax Calculator
Calculate your tax as a sole trader for 2024/25. See Income Tax, Class 2 and Class 4 National Insurance, and take-home pay.
Take-Home Pay
£31,865.90
Effective tax rate: 20.3%
Yearly
£31,865.90
Monthly
£2,655.49
Weekly
£612.81
Calculation Methodology
This calculator uses official HMRC PAYE algorithms for 2026/27. Rates sourced directly from gov.uk. Reviewed by a qualified ICAEW-regulated accountant.
Official Sources
Important: Results are estimates based on standard HMRC rules. Your actual tax may differ based on your specific tax code, benefits, or HMRC adjustments. Always verify with your employer or a qualified accountant.
Frequently Asked Questions
How is self-employed tax calculated?
Self-employed individuals pay Income Tax on their profits (turnover minus allowable expenses) and Class 2 and Class 4 National Insurance contributions. The tax is calculated based on your total profit for the tax year.
What is the difference between Class 2 and Class 4 NI?
Class 2 NI is a flat weekly rate (£3.45 in 2024/25) payable if your profits exceed the small profits threshold. Class 4 NI is calculated as a percentage of your profits - 9% on profits between £12,570 and £50,270, and 2% above that.
What expenses can I deduct as self-employed?
You can deduct legitimate business expenses including office costs, travel, stock, marketing, professional fees, and a proportion of household costs if you work from home. Keep records of all expenses for at least 5 years.
When do I need to register as self-employed?
You must register with HMRC by 5 October in your business's second tax year. If you don't register in time, you may have to pay a penalty.