From understanding expenses to starting a limited company, our downloadable business guides can help you.
The Crunch Personal Tax Estimator will help you to plan for the tax you may have to pay on your personal income including sole trade income, salary & dividends if applicable.
Please note that this is an estimation only and provided to help guide you in either the tax-free amount of dividends you could take from your company for your specific circumstances, or help you plan for setting aside money for the tax on this income if you wish to take more than the tax-free amount.
The files are set up to show default values for Salary (set at the NI threshold) and Dividends (set at the maximum tax-free dividend) assuming no other sources of income.
In addition to salary and dividend income you can also add other figures to the sheet:
At the bottom of the main calculation is a payment schedule, which will include payments on account if relevant. There is an input box in this section for any payments on account you have paid in advance for the tax year.
Please note: We provide these spreadsheets free for anyone to use, but we will only be able to advise about any specific personal tax queries you may have if you are a Personal Tax customer with Crunch.
We’re fast approaching the end of the tax year on 5th April, and now is usually a good time to get to grips with any tax changes, so you can maximise your tax efficiency for the outgoing tax year and get your business prepared for the new tax year. You’ll also want to stay up-to-date with the rates and thresholds.
Business mileage is an important – but often overlooked – expense for freelancers and contractors. In short, this is good news for you and your company.