Limited Company Tax Calculator

The Limited Company Tax Calculator allows you to see a breakdown of your tax if you are self-employed through a limited company. 2023 / 2024 values are used to show you how much you get to keep. More information about the calculations performed is available on the about page.

Limited Company

Annual income	£	Total income of your limited company in the year you are calculating for.
Your salary	£	The gross annual salary your limited company paid you in this year. The default is to use the tax-free allowance for the current tax year.
Other annual outgoings	£	The total of any other deductible expenses your company incurred, excluding your salary and its related deductions.
Eligible for NI allowance		If your company is eligible for the £2,000 employer's NI allowance, introduced in 2014, tick this box. This excludes most service companies.

About You

Tax code

Age	Under 7575 to 84Over 85	Which age group you are in affects your tax-free allowance, and whether or not you pay National Insurance. For the 2023/24 tax year, this is your age on 6th April 2023.
	MarriedBlindNo NI	Married people over the age of 75 get a tax rebate - tick this box if this applies to you. Tick the "Blind" box if you are registered blind, as this affects your personal tax-free allowance. If you do not pay National Insurance contributions, for instance, if you are over state pension age, tick the "No NI" box.

Student Loan	Plan 1Plan 2	There are now two methods of repaying Student Loans. If you started your course before 1st September 2012, tick "Plan 1". If you started your course after 1st September 2012, tick "Plan2".

Limited Company
	Yearly	Monthly
Profit	£ 0.00	£ 0.00
Your Salary	£ 0.00	£ 0.00
Employer's NI	£ 0.00	£ 0.00
Taxable Profit	£ 0.00	£ 0.00
Corporation Tax	£ 0.00	£ 0.00
Maximum Net Dividend	£ 0.00	£ 0.00
Personal Tax
Your Salary	£ 0.00	£ 0.00
Employee's NI	£ 0.00	£ 0.00
PAYE Tax on Salary	£ 0.00	£ 0.00
Gross Dividend	£ 0.00	£ 0.00
Tax on Dividend	£ 0.00	£ 0.00
less Tax Credits	£ 0.00	£ 0.00
Student Loan	£ 0.00	£ 0.00
Total Take Home	£ 0.00	£ 0.00

Use the options to the right to change the time periods displayed, or the tax year that should be used for calculations.

Corporation tax due to HMRC: £0.00.

Self Assessment Amount owed to HMRC: £0.00. Payment on account for 2024/25: £0.00.

Total Self Assessment due by 31st January 2025: £0.00.

A further payment on account due by 31st July 2025: £0.00.

This does not include any payments on account you may already have made for the 2023/24 tax year.

How does this work?

If you choose to be self-employed through a limited company, your tax obligations are different from if you were simply registered as self employed. All of your business income and outgoings go through the limited company, of which you are an employee. The limited company then pays corporation tax on its profits, and you can take dividends of any remaining profit - which you then report on your Self Assessment tax return. You can also take a salary from the company, which reduces the company's tax bill but can increase yours.

Your limited company's income will be reduced by your salary and any other outgoings you report. If your company is eligible for the NI allowance introduced from 6th April 2014, it can get a credit against the Employer's NI it would pay on your salary. After these deductions, the company's profit is taxed, and any remaining amount is the maximum net dividend you can take. The calculator assumes that you will take all of this dividend, which is then "grossed-up" for the purposes of paying tax. You earn a tax credit of 10% on dividends you receive, however, which reduces the amount of tax you owe.

Being self employed through a limited company can increase your overall take-home compared to being self-employed directly, but at the cost of additional reporting requirements and overheads. Speak to an accountant if you are thinking of changing to a limited company.

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