Frequently asked questions
Quick answers for UK sole traders and freelancers using this estimator.
Do I need to register for Self Assessment?
If your self-employed income is above the trading allowance, you normally need to register and submit a return. Check GOV.UK if you are unsure.
What is the trading allowance?
The trading allowance is a small-income allowance. If your gross self-employed income is above it, full registration and filing rules usually apply.
Which expenses can I claim?
Claim costs that are wholly and exclusively for business, such as business travel, software, professional fees, and business-use share of phone or internet.
When are Self Assessment deadlines?
Common deadlines are 31 January for online filing and balancing payment, and 31 July for second payment on account. Always confirm your own HMRC deadlines.
What are payments on account?
Payments on account are advance payments toward your next bill, usually split into January and July.
Can I reduce payments on account?
You can request a reduction if you expect lower profits, but underpaying can lead to interest.
Does this tool include National Insurance?
Yes. The estimate includes Class 2/Class 4 logic for planning based on the selected tax year.
Does this calculator replace HMRC final figures?
No. This is a planning estimate only. Your final bill depends on your submitted return and HMRC records.
Can I save my calculations?
Yes. Create an account, then save runs from the calculator and compare them later in Saved runs.
Is this suitable for limited companies?
This version is focused on self-employed/sole trader tax planning. Company tax is different and will be handled in future calculators.
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