HMRC Tax Calculator

Our tax calculators are designed to help you manage your accounting and forecast the tax you may have to pay HMRC. The calculators are provided free of charge, and are for guidance purposes only. We recommend you get professional advice for all your tax and accounting needs.

Free Tax Calculator

Salary Tax Calculator

Our salary calculator shows what your UK net salary will be after you’ve paid income tax to HMRC. Simply enter your gross salary and tax code and the calculator will work out your take home pay as well as the tax and national insurance you will pay HMRC.

Sole trader Tax Calculator

If you are a sole trader, our tax calculator will show you how much tax and national insurance you will owe HMRC for the selected year. You just need to fill in the details of your annual income as a sole trader and any business expenses.

Corporation Tax Calculator

Use our limited company tax calculator to calculate your limited company’s profits and the amount of corporation tax HMRC will expect you to pay for the specified tax year.

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Calculate your take-home pay after tax and NI

Our salary calculator shows you how much salary you will receive once standard deductions for income tax and National Insurance have been made. Use it to calculate how much your actual take-home pay will be and to see how much you are paying every month to HMRC.

Your ‘Gross’ salary is your total salary. This is the amount you are paid before any Income Tax or National Insurance is paid. What you are left with after these calculations have been made is called your ‘Net’ salary. This is the wage that will be paid to you, usually directly into your bank account each week or month.

The amount of Income Tax you pay varies depending on your tax code, so our calculator will make certain assumptions about your personal circumstances. Our calculator assumes that you are under 65 years old, unmarried and that you do not receive childcare vouchers or are paying off a student loan.

Remember, other factors can also affect your take-home pay such as whether you work overtime or are paid a bonus, so please use our calculator as a guide to your take-home salary only.

Our calculations are based on HMRC’s latest income tax rates. It will take your gross salary and deduct income tax and national insurance contributions as required by HMRC. This will calculate your net salary, which is how much your actual take-home wage should be.

Self assessment tax calculator – Calculate your tax if you’re self employed

Our sole traders’ tax calculator shows how much tax and national insurance you will need to pay HMRC if you are self-employed.

As a sole trader, you have to file a Self Assessment Tax Return every year with HMRC. Your Self Assessment Tax Return details your income and expenses for the tax year. HMRC will then calculate how much income tax and National Insurance you owe based on the figures you provide.

If you’re self-employed it can be difficult to predict what your actual wage will be once you’ve paid all your business expenses and contributions to HMRC. Our tax calculator can help you work out what your take home pay as a self-employed freelancer or sole trader might be.

You will need to fill in the details of your annual income as a sole trader and any business expenses. Our calculator will then work out your net income and monthly take home pay, which is the amount of money you will receive at the end of every month. It also calculates total deductions for tax and National Insurance.

Happy to help

If you have any questions about calculating your tax as a sole trader, or any aspect of being self-employed, the bookkeepers here at Numberworx will be glad to help. Even if you aren’t registered for our services, don’t hesitate to get in touch.

Business tax calculator – Calculate your corporation tax

Our Business or Corporation tax calculator will show you how much corporation tax your limited company will need to pay HMRC at the end of your accounting year.

The amount of corporation tax you pay is calculated based on the net profit your business makes. You calculate net profit by deducting total expenses from gross turnover for the specified tax period. You will therefore need to have these figures to hand (gross turnover and total expenses) in order to use our business or corporation tax calculator.

Corporation tax is calculated based on figures for the ‘Corporation tax accounting period’, which is usually the same as your company’s ‘accounting year’. This is the 12-month period covered by your business accounts, not necessarily the tax year.

Our calculator shows the total amount taxable, as well as the tax that would be due. It also calculates your business’s net annual profit and monthly profit after tax. However these figures are given as a guide only. We recommend you also take professional advice as there may be ways to reduce your corporation tax liability.

Numberworx customers receive free, unlimited tax and accountancy advice from their own dedicated bookkeeper throughout the financial year. As he or she will be familiar with your business, you’ll always receive advice that is tailored for your business, and individual to you.

Get in touch

We are happy to offer advice and information about Corporation tax, even if you are not currently using the Numberworx service. Call, chat or email your question to us today.