Your figures · sole trader

This estimate assumes your business profit is your only income. It leaves out student loans, pension contributions and other reliefs. All assumptions · Have a job too? Get your numbers checked

Turnover money in, before costs

£

Allowable expenses business costs

£

Where you live

2026/27 is my first year of payments on account
Adds a first payment on account to January 2028 See my estimate

Estimated 2026/27 Income Tax and Class 4 NI

£8,432

One-twelfth of the bill

£ a month across the year. Use for a dated plan.

Due 31 January 2028

Due 31 July 2028

Second payment on account for 2027/28.

Sole trader or limited company?

The same profit, three ways. The company figures assume a £12,570 salary, one director and no Employment Allowance.

Sole trader

Company, take everything

Company, take only up to £50,270

Personal cash after taxTax and NILeft in the company

The breakdown

	Sole trader	Company, take everything	Company, take up to £50,270

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Your 2026/27 tax pot

Estimated 2026/27 bill tax and Class 4 NI

£

Other amounts due e.g. student loan

£

Payments on account already made towards 2026/27

£

Already in your tax pot

£

First monthly deposit

I’ll need to make payments on account for 2027/28
Usually yes if the bill is £1,000 or more and 80% or less of your tax is collected through PAYE See my plan

Save each month

Your dated plan

Your deposits and HMRC payments to the end of July 2028, assuming you keep saving the same amount.

Date	What happens	Paid in	Paid to HMRC	Pot after

The guide works this through for Dan on page 39. This is a budgeting method: update it when your forecast changes.

Your Self Assessment bills

2026/27 bill

£

2027/28 bill

£

2028/29 bill

£

Payments on account already made towards 2026/27 0 if 2026/27 is your first year

£

More than 80% of my tax is collected outside Self Assessment, such as through PAYE
Then no payments on account are needed See my payment dates

What’s due, and when

Each bar is a payment date. Navy is the balance for the year just ended; gold is an advance payment for the next year.

Balancing paymentFirst payment on accountSecond payment on account

Date	Made up of	Amount due

Your tax for each year

The year’s total bill is different from what you pay on any one date.

Tax year	Total bill	Paid on account	Balancing payment

Assumes payments on account are half the previous year’s bill and none are reduced. Payments on account aren’t required if the previous year’s bill was under £1,000. The guide explains this on pages 31 and 32.

Your progress

0 of 15

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Your plan checklist

Tick off one item this week. Page links open The UK Tax Guide 2026/27 at the right page.

How you work

I’m self-employed as a sole trader I’m a director of a limited company I’m thinking about going limited I’m VAT-registered, or my sales are near £90,000 I have other income, such as a job, rent or pensions My self-employment or property income is over £20,000

Your reading list

This points you to chapters. It isn’t personal advice, and other parts of the guide may still apply to you.

Download the guide (PDF) ↓

Which deadlines?

Self Assessment for 2026/27 I make payments on account I’m in Making Tax Digital for 2026/27 I run a limited company

The .ics file opens in Apple Calendar, Google Calendar and Outlook, with a reminder a week before each date. Or use the Google and Outlook links for each date.

Deadlines for the 2026/27 tax year

Tax year 6 April 2026 to 5 April 2027, so the return and payment are due by 31 January 2028. Looking for your 2025/26 return, due 31 January 2027? See the guide’s key dates.

Dates checked against GOV.UK on 21 October 2026. Company dates are for a private company and its first year after the first accounts; check Companies House for your own.

Tax Toolkit 2026/27