Our calculator is great for figuring out taxes if your income is up to £100,000. But if you're earning more than that, things can get a bit tricky.
Higher incomes mean more complex tax rules, like changes to personal allowances and other factors that could affect what you owe.
For incomes above £100,000, we recommend a personal consultation to help you navigate these complexities. Sometimes, switching to a different business structure, like a limited company, can be more beneficial than staying self-employed.
Our team is here to provide the advice and support you need to make the best financial decisions. Reach out to us for a chat about how we can help you optimize your tax situation.
CIS Calculator 2023/24 User Guide
Enter Gross Income from CIS deduction statement/s in the “Gross Income (£)” field.
Or
Enter Net Income from bank statements in the “Net Income (£)” field.
And
Enter expenses (excluding material costs paid via CIS) in the “Expenses (£)” field.
Enter CIS Deduction in the “CIS Deduction (£)” field, or leave blank (calculator will assume CIS for 20%).
Click “Calculate Tax”.