Tax planning
Model your tax position before the year closes.
What the tax planner does
The tax planning dashboard models your income tax, National Insurance contributions, and pension reserves based on your actual booking earnings. It takes your gross income from recorded bookings, applies your configured expense rate, and calculates the tax you should expect to owe across every relevant band.
Self-employed sole traders
If your employment type is set to self-employed, the planner calculates:
- Income tax in bands after your personal allowance of 12,570 pounds for both 2025/26 and 2026/27.
- Class 4 NIC at 6% on profits between 12,570 pounds and 50,270 pounds, then 2% above that.
- Class 2 NIC is not charged as a mandatory weekly amount for self-employed people earning above the Small Profits Threshold of 6,845 pounds for both 2025/26 and 2026/27.
The planner deducts your configured expense percentage and any fixed annual expenses before calculating taxable profit.
Limited company contractors
If your employment type is set to limited company, the planner models an optimal salary-plus-dividends strategy.
- Salary at the personal allowance level to use the tax-free band.
- Corporation tax at 19% on small profits and 25% on the main rate, with marginal relief in between.
- Employer NIC at 15% on salary above 5,000 pounds.
- Dividend tax after the 500 pound dividend allowance. For 2025/26, the rates are 8.75%, 33.75%, and 39.35%. For 2026/27 and later, the basic and higher rates rise to 10.75% and 35.75%, while the additional rate stays at 39.35%.
Scottish income tax rates
If your region is set to Scotland in your profile, the planner uses Scottish income tax rates instead of the rest of the UK bands. National Insurance rates remain the same across the UK.
- 19% starter rate, 12,571 pounds to 14,876 pounds
- 20% basic rate, 14,877 pounds to 26,561 pounds
- 21% intermediate rate, 26,562 pounds to 43,662 pounds
- 42% higher rate, 43,663 pounds to 75,000 pounds
- 45% advanced rate, 75,001 pounds to 125,140 pounds
- 48% top rate, above 125,140 pounds
- 19% starter rate, 12,571 pounds to 16,537 pounds
- 20% basic rate, 16,538 pounds to 29,526 pounds
- 21% intermediate rate, 29,527 pounds to 43,662 pounds
- 42% higher rate, 43,663 pounds to 75,000 pounds
- 45% advanced rate, 75,001 pounds to 125,140 pounds
- 48% top rate, above 125,140 pounds
Finance profile settings
You can customise your tax model from your finance profile.
- Deductible expense rate
- Additional annual expenses
- Pension contributions
- VAT registration
Clinical work supplied by a registered health professional whose principal purpose is the patient's health is VAT exempt under VAT Notice 701/57. Non-clinical income such as medico-legal reports, expert-witness work, cosmetic procedures, and the supply of goods is generally standard rated and does count toward the registration threshold.
Annual versus year to date
Toggle between two views on the tax planning dashboard.
- Annualised: projects your current earnings rate across the full tax year.
- Year to date: shows actual earnings and tax accrued so far this tax year.
What it calculates
- Gross income
- Deductible expenses
- Income tax or corporation tax
- National Insurance
- Pension reserves
- Suggested reserve
What the planner does not model
The planner is a single-source-of-income forecast. It does not model the following items.
- Personal allowance taper above 100,000 pounds
- Self Assessment payments on account
- Student loan repayments
- High Income Child Benefit Charge
- Tapered pension annual allowance
- Other income such as rent, dividends, savings interest, capital gains, or PAYE work outside the platform
Sources: HMRC income over 100000; payments on account; student loan; HICBC; pension AA.
Tier access
Tax planning tools are available on Plus and Pro.