2026/27 rates
Income tax: 20% / 40% / 45% after the £12,570 personal allowance. Class 4 NI: 6% on profits £12,570–£50,270, 2% above. Making Tax Digital for Income Tax applies from April 2026 to sole traders and landlords with income over £50,000.
FAQ
How much tax on £42,000 self-employed profit?
About £5,886 income tax and £1,766 Class 4 NI.
Sources (checked 6 Nov 2026): HMRC Self Assessment; Making Tax Digital for ITSA.