Work out your limited company’s Corporation Tax liability on profits generated during the 2024/5 tax year.
How to use the calculator
Enter your values in the blue boxes, and the tool will calculate the portion of your profits available for distribution as dividends, after accounting for business expenses and Corporation Tax.
To keep this tool as simple as possible, we have made several assumptions. Please scroll down for further information.
2024/25 Limited Company Tax Calculator
Annual Revenue
?
Annual Travel & Other Expenses
?
Annual Pension Contribution
?
Annual Gross Salary
?
Summary
Annual Turnover
£88,000.00
Less business expenses
Travel & Other
£5,000.00
Pension contributions
£4,000.00
Gross salary
£12,570.00
Employers NIC
£478.86
Total expenses
£22,048.86
Profits before tax
£65,951.14
Corporation Tax
£13,727.05
Net profits after tax Available for distribution as dividends
£0
Looking for a new limited company accountant?
- SG Accounting – First 3 months from £59.50/month.
- Clever Accounts – IR35 FLEX. Take on any contract you’re offered
- Integro Accounting – 6 months fixed fee accountancy service half price!
- Aardvark Accounting – Complete service, incl. FreeAgent @ £89/month.
Tax-efficient life insurance for directors – save over 50%
Set up a life insurance policy via your company – enjoy significant tax savings.
Assumptions used in this calculator
- Corporation Tax rates increased in April 2023. Find out more here.
- We have ignored the Employment Allowance, which refunds Employers’ NICs up to £5,000 each calendar year. For most small companies (such as contractors), the impact of this incentive is likely to be minimal if you and/or your employees are paid low salaries.
- To find out the most tax-efficient director’s salary for 2024-25, read this key article.
- We have assumed that any billable work included within the ‘Annual Revenue’ figure does not fall within the scope of the IR35 rules.
- All calculations have been verified by our ACA-qualified accountant. Please talk to your accountant if you have any tax-related questions.