Use this calculator to find out how much tax and National Insurance you have to pay if you are self employed (a sole trader, or member of a partnership) during 2022/23.
How to use the calculator
Simply fill in the yellow boxes, as indicated, and the calculator will work out your post-tax profits, after deductions for income tax, Class 2 and Class 4 NICs.
To keep this tool as simple as possible, we have made several assumptions. Please scroll down for further information.
* The 1.25% Class 4 NI rise was reversed from 6th November 2022. Our calculator has been updated to reflect this *
2022/23 Self Employed Tax Calculator
Assumptions used in this calculator
- This calculator is aimed at self-employed business people. IT contractors, however, rarely work as sole traders, for several reasons. You can find out more here.
- Read this article to see the current Class 2 and Class 4 National Insurance rates.
- Please note pension contributions for any employees are an allowable business expense, however personal contributions for a sole trader are paid from post-tax earnings. Tax relief is available and then claimed via the self assessment process. We have included the pensions entry for illustrative purposes.
- All calculations have been verified by our accountant.
- Please talk to your own accountant if you have any tax-related questions.
- For concise guide to working as a sole trader, try this section on the excellent Bytestart site.