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Self Employment Calc

Calculation for Self Employed tax and NICs updated for Autumn Budget 2024.

Calculate Income Tax, Class 4 and Class 2 National Insurance (NICs) payable on profits from self-employment. How do you calculate tax and NICs on self-employed income?

You can compare this to our Salary v Salary & Dividend v Just dividend calculator.

Self Employment Income
Tax Year
Profit
Claim Personal Allowance
Calculator for the self employed

Assumptions:

NICs rates & thresholds

2024/25 uses NICs rates of 6% and 2% and assumes no Class 2 NICs.

2023/24 uses NICs rates 9% and 2%.

2022/23 is calculated here using the new extra 1.25% levy, plus we use the NICs thresholds which apply from 6 July 2022. 

If you are subject to Class 2 NICs, you are shown the liability for 52 weeks of the year.