B/Billable Toolkit
Free calculators for freelancers & small businesses
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Self-Employed Tax Set-Aside Calculator

Put tax money aside as you get paid, so the tax bill is never a surprise. Use your own estimated rates.

$
$
%
Your expected average rate, not the top band
%
Pension, national insurance, social security

This month

How it’s calculated

Expenses are taken off income to get profit, and the combined tax and contribution rate is applied to that profit. Rates differ by country and income, so treat this as an estimate.

set aside = (income − expenses) × (tax rate + contribution rate)

Worked example

With $6,500 of income and $700 of expenses, profit is $5,800. At an estimated 22% tax and 8% contributions, set aside $1,740, which is 26.8% of what came in.

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Questions

What percentage should freelancers save for tax?

Many save 25–30% of profit as a starting point, then adjust once they know their real rate.

Should I keep tax money in a separate account?

Yes. A separate savings account makes it much harder to spend money that belongs to the tax office.

Doing these numbers every month? Accounting software can automate invoices, reminders and tax reports.

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