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Sole Trader Tax Companion

Estimate your Income Tax, National Insurance and student loan for the year — and what to set aside for HMRC.

Tax year · 6 Apr 2026 → 5 Apr 2027
Your figures
Everything you invoiced or took in this year, before expenses.
£
Costs incurred wholly and exclusively for the business.
£
Choose None if you have no student loan.
Postgraduate loans repay on top of an undergraduate plan.
Taxable profit £0
What to set aside
Total to set aside for the year
£0
Income Tax + NIC + student loan on your profit
Income Tax£0
Class 4 National Insurance£0
Class 2 National InsuranceVoluntary for most — £0 unless you opt in£0
Student loan repayment£0
Total to set aside£0
Planning for payments on account

If your Income Tax & Class 4 NIC bill is over £1,000, HMRC also collects next year's tax in advance.

Balancing payment (this year)£0
First payment on account50% of Income Tax & Class 4 NIC£0
Total due by 31 Jan 2028£0
Second payment on accountDue 31 Jul 2028£0
What this estimate assumes ▾

You receive the full standard personal allowance (£12,570), and this profit is your only income for the year.

The personal-allowance taper above £100,000 is applied automatically.

You are not a Scottish or Welsh taxpayer (different rates may apply).

Figures are based on tax-adjusted profit and exclude capital allowances and depreciation.

Important — please read ▾

High Income Child Benefit Charge: this tool does not calculate the HICBC. If you or your partner claim Child Benefit and either of you has income over £60,000, an extra charge may apply — seek advice.

Class 2 NIC is no longer compulsory for most. Above the Small Profits Threshold (£7,105) you're treated as having paid it at no cost.

This is a basic estimation tool only — not a substitute for professional advice or your Self Assessment return. It doesn't account for other income, pensions, gift aid or capital gains.

An estimate, not tax advice.
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