Self Employed Tax Calculator

If you're self-employed, our tax return calculator is the first step to solving your Self Assessment tax return problems.  To find out if you need to file a HMRC tax return and to get a quote for the RIFT tax return service, all you have to do is answer a couple of questions about:

  • Your employment status.
  • Your income details.
  • And whether you've been sent anything by HMRC.

Yes No Path

I am/was Self Employed and traded during the period. *

If you're self employed or a business partner we need to know if you've started trading yet. If you start working for yourself, you’re classed as a sole trader. This means you’re self-employed - even if you haven’t yet told HM Revenue and Customs (HMRC). If you have charged a price for products or services, it counts as trading. If you have traded during the period, the requirements are different from if you have not traded. If you traded, but then stopped during the period and ceased to be self employed, you must inform HMRC. You will also be required to complete a self assessment tax return for the period in which you traded.

I still have undeclared income from the period *

You need to tell HMRC about all sources of income you have had during the tax year. If you have received any income that has not been declared to HMRC then you will need to report it via a self-assessment tax return.

I declared my income and paid tax monthly during the period under the CIS scheme *

If you are on the CIS scheme you still need to submit a self assessment tax return. It is important that you do this as most CIS workers find that they are due a tax refund of around £2000 per year. Not submitting your tax return will mean that you get a fine and most likely end up paying more tax than you should have.

I registered for Self Assessment as self employed, but did not trade in the period

If you are registered as self-employed you need to provide HMRC with a record of your income during the year, even if your total income was £0.

I worked for more than one employer during the tax year

HMRC needs to know all sources of income that you had during the year. If you are being taxed directly by more than one employer you may be paying too much tax. Check your tax code.

I already know I need to complete a tax return *

I received income from overseas that's taxable in the UK

If you've got money coming in from abroad you'll usually have to pay UK tax on it. Foreign income might include wages from working abroad, renting out property in another country or foreign investments or savings. There are different rules for different types of income and a lot depends on your status as a UK resident. There are special rules for foreign income from pensions, rent from property and certain types of employment.

I lived abroad during the last tax year

If you're living or working abroad you may still have to pay UK tax on some or all of your income. It all depends on where the money's coming from and what your residence status is. We can help you with the specific and dedicated rules about what counts as UK residency, but it basically boils down to: Did you spend 183 days or more in the UK during the year you're being taxed on? Did you own or rent your sole home for 90 days or more in the UK and spend at least 30 days there? If you answered "yes" to either of these questions there's a good chance you're a UK resident for tax purposes.

I received income from renting property during the period

If you made more than £2,500 in income from property or land then you’ll need to declare it to HMRC.

The maximum number of properties I rented out during the period was *

I lived in the same property at the time I was earning rental income from it

If you're a taxpayer, the government's 'Rent a Room' scheme allows resident landlords to earn £7,500 each year tax free from 6 April 2016. The threshold for the 2015 to 2016 tax year was £4,250. However, attached but self-contained dwellings count as rental income and don’t come under rent a room scheme. Depending on your other sources of income of employment status you may still have to complete a self-assessment tax return.

I believe I need to pay Capital Gains Tax

When you "dispose of" (in most cases this means "sell") certain things you own you have to pay Capital Gains Tax on any profit you make from the sale. Capital Gains Tax mostly covers things like property, jewellery, antiques, valuable artworks etc. You only need to pay Capital Gains Tax on profit above your tax free allowance, which is different for individuals and trusts. If you sell something that counts for Capital Gains Tax you must file self-assessment to declare any profit to HMRC.

I received income from other investments or dividends

There are different sets of rules that apply to the taxation and tax relief on savings and investments, depending on their type.

Did you receive taxable benefits from your employer(s) or expenses, excluding travel?

There are a wide range of benefits in kind received by employees, most of which are taxable, though there are some statutory exemptions. Most directors of companies are liable to pay Income Tax on the value of the benefit in kind and expense payments provided. Their employers (or in certain cases other third parties who provide benefits in kind) are liable to pay Class 1 or Class 1A National Insurance contributions (NIC). If unsure whether any benefits you have recieved are taxable, answer yes, and our agent will confirm details with you.

I am liable for the Child Benefit Charge

You or a partner may have to pay a tax charge, known as the ‘High Income Child Benefit Charge’, if you have an individual income over £50,000 and either: you or your partner get Child Benefit or someone else gets Child Benefit for a child living with you and they contribute at least an equal amount towards the child’s upkeep. It doesn’t matter if the child living with you is not your own child.

HMRC have asked me to submit a tax return

If HRMC have asked you submit a self-assessment tax return then you must not ignore it. Doing so will result in a fine, even if you have no tax to pay.

HMRC contacted me via *

I have ticked the reasons included in the HMRC letter on this form

If the reason for your tax return is not listed, please give details in the comments section on the next page

HMRC have sent me a P800

If HRMC have asked you submit a self-assessment tax return then you must not ignore it. Doing so will result in a fine, even if you have no tax to pay.

I need to complete a Tax Return for another reason, not listed on this form

If the reason for your tax return is not listed, please give details in the comments section on the next page

I am/was the appointed trustee of a trust or a registered pension scheme, responsible for its management.

If you were the trustee of a trust or a pension scheme then you must submit a self-assessment tax return, even if you are paying income tax through another employer.

I am/was the Director of a company or charity

Company Directors must submit self-assessment tax returns. Exceptions apply for Directors of charities who received no income or benefits. Please indicate if this applies in the next question.

I am/was Director of a Charity and received no income or benefits

My income was over £100k per year in one or more of the years indicated

If you receive over £100,000 in total income in any tax year then you will need to complete a self assessment tax return. It doesn’t matter if you get your income from different sources, if you have more than one job, etc. For this section we just need to know the total.

I have worked as a religious minister during the period

If you are a religious minister of any faith, religion or denomination, or an employee acting as a minister of religion, you will need to file a self-assessment tax return.

PAYE Refunds

Need help with PAYE tax refunds?

Our self-assessment tax calculator is for anyone who needs to file Self-Assessment tax returns, like self-employed people, for instance.

One big reason why people need to file a tax return is because they’re claiming a tax refund from HMRC for work expenses of over £2,500. If you’re looking to claim a tax rebate, then our tax rebate calculator is the perfect first step. Better yet, when you claim your tax refund with RIFT, we handle all your Self Assessment paperwork along with it at no extra charge!

Tax Rebate Calculator

Tax Return Calculator

How does the Self-Employed tax return calculator work?

Based on the answers you give, our self-employed tax return calculator will tell you whether you need to use Self Assessment. It will also give you a quote for the RIFT tax return service, so RIFT can prepare and send your tax return to HMRC for you.

For online tax returns, we can even get you registered with the HMRC system to start using Self Assessment. Don't leave it to the last minute, though. It can take a while for HMRC to send you the activation code you'll need. The deadline for submitting your tax return online is the 31st of January, so make sure to use the Self Assessment tax calculator as early as possible to get started.

RIFT are the UK’s experts in Self Assessment tax returns. Our specialist teams keep up-to-date on all the latest regulations and industry-specific rules so you don't have to. If we find you're owed an income tax refund when we're preparing your Self Assessment, we'll calculate it for you and help you to claim it. If you already know you’re owed a tax rebate, a visit to our tax refund calculator page will put you well on your way to getting your cash back.

It's not only the self-employed who need to file tax returns, of course. If you worked for more than one employer during the tax year, the tax return calculator might tell you that HMRC's expecting a tax return from you. Whether you want to file your HMRC tax return online or on paper, our self-employed tax return calculator is the ideal way to take the stress and guesswork out of the tax return system.

1 out of every 3 UK workers is overpaying their tax, but far too many miss out on their tax rebates because they don't know what expenses they can claim for. With RIFT making the calculations for you, you'll always be confident that everything is correct. That means fewer headaches and more cash back in your pocket – and it all starts by using the RIFT HMRC tax return calculator.

Tax Returns Online

Do I need to file a Self Assessment tax return?

Knowing whether you need to file a tax return isn't always easy. However, if HMRC's expecting a Self Assessment return from you, then you'd better not disappoint them. Every year, literally hundreds of thousands of people find themselves with fines and penalties for failing to file their tax returns on time. The worst part is that many of them simply didn't realise they were supposed to do it.

RIFT's self-employed tax calculator will tell you whether or not you need to use the Self Assessment system. Better yet, it'll show you how you could save money and protect yourself by using the RIFT tax return service, leaving us to do the work for you!

SEISS

The Self-Employment Income Support Scheme

The Self-Employment Income Support Scheme (SEISS) is designed to help self-employed people get through the COVID-19 crisis. With the 4th round of SEISS grants, the rules on who qualifies were loosened up slightly. You should be okay to claim if:

  • You filed a Self Assessment tax return for 2019-20 by the 2nd of March 2021.
  • Over half of your earnings come from self-employment.
  • You’ve been making under £50,000 a year on average over the last 3 years.
  • Your business has suffered significantly as a result of COVID-19.

The 4th SEISS grant pays out 80% of your average profits over 3 months, capped at £7,500, worked out using your last 3 years of profits. If you became self-employed more recently than that, only your time in self-employment will be used to make the calculations.

A final SEISS grant is coming later in the 2021, to be claimed from around the end of July. Only people who’ve seen a 30% drop in their average turnover will get the full 80% pay-out (capped at £7,500) this time. If your turnover’s dropped by less, you’ll get a 30% grant level instead, capped at £2,850.

If you’re eligible for a SEISS grant, you should be contacted by HMRC with instructions and a personal claim date. See our FAQ here for more about the scheme.

Need more help?

Wondering if you can claim a tax refund or need to submit a tax return? Use our online tools to find out if you're owed money by HMRC.

Do I Qualify?

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