March 4, 2015 Self-Employed Tax Calculator We have devised a simple free excel self-employed tax calculator for UK self-employed freelancers / sole traders. It will calculate an an estimate of your tax bill as well as telling you what % of your income you should be putting aside for tax. This calculator has been updated for the 15-16 tax year (6th April 2015 to 5th April 2016) although a tax calculator for the previous year, 14-15, is also available for download below. 15-16 Tax Year Self-Employed Tax Calculator download HERE 14-15 Tax Year Self-Employed Tax Calculator download HERE This calculator has been created for use by people who only have self-employed income and don’t have a student loan – if you do have a student loan you’ll need to factor in what repayments are due on this. The calculators also assume that you have a standard personal allowance (your tax free allowance). Other key assumptions are listed below: Your only source of income is from your self-employment You have a standard personal allowance (for 15-16 this is £10,600) You do not have to make repayments of your student loan No capital allowances / charges (tax affect of capital assets) No child benefit repayments No personal pension contributions and no gift aid donations Ignores Class 2 NI as this is currently paid outside of your tax return Only works if your profits are below £100k Does not factor in any payments on account Our self-employed tax calculator is to be used as an illustrative guide only.