Work out income tax, Class 4 National Insurance and student loan repayments on your self-employed freelance profit, with the option to use the £1,000 trading allowance.
Données vérifiées · July 2026
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Self-employed freelancers pay income tax on trading profit (income minus allowable expenses) at the same personal rates as employees, plus Class 4 National Insurance on profits above the lower profits limit. Instead of deducting actual expenses, you can use the £1,000 trading allowance if that gives a better result. Student loan repayments (Plan 1, 2, 4 or 5) are calculated on profit above the relevant repayment threshold and added on top of income tax and NIC.
£45,000 trading income with £8,000 allowable expenses, no other income, Plan 2 student loan: £37,000 taxable profit generates income tax, Class 4 NIC and a 9% student loan repayment on profit above the Plan 2 threshold.
Enter your trading income for the year.
Enter allowable expenses, or tick to use the £1,000 trading allowance instead.
Add any other income for context on your overall tax band.
Select your student loan plan, if applicable.
Last data update
July 7, 2026
Sources and references
HMRC — Self-employed National Insurance rates (gov.uk/self-employed-national-insurance-rates); Trading allowance (gov.uk/guidance/tax-free-allowances-on-property-and-trading-income); Student loan repayment thresholds, 2025/26.
The data in this calculator is updated regularly to reflect the latest official rates. When in doubt, consult the official sources listed above.
Class 2 NIC was effectively abolished for most self-employed people from 2024/25 (voluntary payments remain available to protect state pension entitlement) — this calculator focuses on the compulsory Class 4 charge.
No — using the trading allowance replaces all expense and capital allowance claims for that income; if you have significant equipment costs, deducting actual expenses is usually better.