Calculating your personal liability to tax on your profits is not straightforward. The calculation starts with your business profits or share of partnership income which is then subjected to a number of adjustments, add backs and deductions.
This 2015/16 calculator uses current year tax rates to tax accounting profits made before 5 April 2016.
The tax and class 4 National Insurance liability is due for payment in two equal installments on 1 January 2015 and 1 July 2016. However, the payment you make on 1 January 2016 will also need to include any capital gains tax due for the tax year 2014/15.
Sounds complicated? Yes, it is which is why we recommend that you contact us if we have not already written to you confirming the amount of tax you are due to pay in 2016.
Please continue and enter values using the following options.
Corporation tax rates
Main capital allowances
Tax and the self employed
Tax and your share of partnership profit
Please note that the results you see on your screen are estimates only. If you wish us to look further you will need to contact us.