Calculate if you will be better off as a sole trader, partnership or limited company.
Use this calculator to work out if you would be better off by running your business through a Limited Company.
ENTRIES ARE BASED ON ONE PARTNER OR SOLE TRADER…
Annual Taxable Profits of Sole Trader or one Partner£
Number of partners (enter 1 for sole trader)
Salary to be taken from company help£
Optional Entries to get a more accurate result
Private expenses (leave blank if don’t know) help£
Benefits in kind help | calculator£
No. of Associated Companies help £
RESULTS IF A SOLE TRADER OR PARTNER
Class 4 National Insurance£
Class 2 National Insurance£
RESULTS IF A LIMITED COMPANY
Employers NI on salary and benefits£
Available for Dividend£
Income Tax on salary, benefits and dividends£
Extra Income By Incorporating£
Extra savings possible help.£
TOTAL POSSIBLE SAVINGS£
Notes and assumptions
“It is assumed all partners share equally in the profits, are liable to pay NI and would not be contracted out, have the same tax position and there is no other taxable income or tax deductible allowances apart from the basic personal allowance.
This calculator can only give a guide to potential savings but cannot cater for all situations. You must consult an accountant for specific advice in your own circumstances before taking any action.
There are also may other factors to take into account before deciding to incorporate, although tax savings are often an important consideration. “