If you need assistance or guidance with your taxes, great news - we've partnered with TaxScouts who offer a 5% discount to blow LTD professionals which is applied at checkout.
- Income tax calculator
- Child benefits calculator
- How to register as self-employed
- Self-employed accounting guide
- Self-employed: how to pay your National Insurance
- What taxes do self-employed professionals pay?
- How can I claim laundry expenses?
- The low-down on lockdown tax reliefs
- Tax guide for a self-employed hair dresser
- Managing tax as a self-employed MUA
- Whats the deal with council tax?
The UK tax year runs from April 6th to April 5th. You can file your tax return at any time after the tax year ends - the deadline is the 31st of January. You'll pay both income tax and national insurance contributions as part of the same process.
After filing your tax return you have until January 31st to pay your taxes.
The basic income tax rate is 20% but the first £12,500 you earn is not taxed. You'll also pay national insurance. This is £3 per week + 9% of your profits above £8,632.