Self Employed

If you're self employed, you will pay tax and national insurance at the following rates on your business profits:

Income Tax (Tax)

Tax Rate      Income Banding

    0%             £0 - £12,570

   20%         £12,571 - £50,270

   40%         £50,271 - £125,140

   45%           Over £125,140
 

National Insurance (NI)

Class 2 - £3.45 a week

Class 4 - 9% on profits between £12,570 and £50,270

Class 4 - 2% on profits over £50,270

Since Tax and NI is calculated on business profits it can cost you thousands if this is calculated incorrectly.  That's why it really does pay to get the right advice and be comfortable in the knowledge your business profit is correct. 

We provide you with support through out the year. We can advise on tax deductible expenses, provide a clear calculation of your business profit and tax due for your approval and then submit everything to HMRC.  

Call us today on (0117) 318 4403 or e-mail us at enquiries@brunelfinancial.co.uk to find out more.