Our employed and self-employed calculator gives you an estimated income and national insurance tax bill based on your annual gross salary, self-employment income, self-employment expenses and pension contributions. That way you can plan your finances with more confidence.

If you’re an employee, your income tax and national insurance contributions are generally deducted from your salary before you receive it. However, if you’ve earned over £1,000 from self-employment, you may need to submit a self-assessment tax return and pay income tax and national insurance on this income.

Pensions are an efficient way to invest for everyone, not only salaried staff. Between putting all your time into developing a business, finding clients and doing the work you find rewarding, setting up a pension may not seem like a priority. But think of it this way: why risk facing a less comfortable retirement simply because you're self-employed?

Self-employed incomes tend to fluctuate, and so it’s vital you have the option to pay more, less or not at all. Personal pensions allow you to do just that, but there are many types of pension within this category to choose from.