This calculator works out your limited company’s profits, and Corporation Tax liability, based on its business turnover and expenses incurred during the 2018/19 tax year.
How to use the calculator
Simply fill in the yellow boxes, as indicated, and the calculator will work out how much post-tax profit is available to distribute as dividends, following a deduction for Corporation Tax (plus any expenses incurred during the tax year).
To keep this tool as simple as possible, we have made a number of assumptions. Please scroll down for further information.
To keep up-to-date with any future small business tax changes, simply subscribe to our free newsletter list, and we’ll also send you 20 tax saving tips [PDF].
Our contractors are kindly sponsored by Clever Accounts
Assumptions used in this calculator
- Corporation Tax has been applied at the prevailing rate of 19% (2018-19 tax year).
- We have ignored the Employment Allowance, which refunds Employers’ NICs up to £3,000 each calendar year. For the majority of 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.
- 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.