Self-Employment
Run the numbers behind being your own boss — from sole-trader profit and Self Assessment to irregular income and tax on a side hustle. Understand what counts as turnover, what you can claim, and how to plan for the tax bill so it never surprises you.
Start with a calculator
Put your own numbers in first — the guides below explain what the results mean and what to do next.
Understanding my sole-trader income and profit
Turnover is not profit. Get the basics right before you calculate tax.
Doing my Self Assessment and cutting my tax bill
File correctly and claim everything you are entitled to.
Managing irregular or freelance income
When pay arrives in lumps, budgeting and tax forecasting need a different approach.
Tax on a side hustle or extra income
Earning on top of a job? Know the allowances and when you must report it.
Choose the right guide
Several pages in this area cover related questions. Use this to pick the one that matches what you are actually trying to do.
- “What profit do I actually make, and what is taxable?”
- The self-employment income guide covers turnover, expenses and profit. Self-employment income guide
- “How do I file and lower my tax bill?”
- The tax-planning guide covers Self Assessment, allowable expenses and VAT. Self-employed tax planning basics
- “My income is irregular — how do I budget for tax?”
- The freelance income guide is built for lumpy cash flow. Freelance income & cash flow guide
- “Do I need to report my side hustle?”
- The side-hustle guide explains the Trading Allowance and thresholds. Side hustle tax guide
Related topic hubs
Every guide in this hub is written and maintained by Shaun da Silva, Finance Consultant. SmartMoneyTools provides educational estimates only — not financial advice. Read our financial disclaimer and editorial policy.