Self-employed tax set-aside and expenses calculator
Most London private hire drivers are self-employed, so tax is not taken off before the money reaches you. Enter your weekly takings and costs to see an estimate of the year's income tax and Class 4 National Insurance, and how much to put aside each week.
How the estimate works
- Profit is your takings for the weeks you work, less your business expenses. You choose how to claim vehicle costs: your actual costs (fuel or charging, insurance, rental or finance, repairs), or simplified mileage flat rates per business mile. The flat rate stands in for the vehicle running costs, so the tool never counts both.
- Income tax uses the personal allowance and the basic, higher and additional bands for 6 April 2026 to 5 April 2027. If you add other taxable income such as a PAYE job, your driving profit is treated as the top slice of it, and only the extra tax is shown.
- Class 4 National Insurance is worked out on profit between the lower and upper limits, with a lower rate above the upper limit. Class 2 is not added.
- Set-aside is the year's total divided by the weeks you work, so you can put a fixed amount aside from each working week. The figure over all 52 weeks is shown too.
What it does not handle
- Scottish income tax bands, student loan repayments, pension contributions, the marriage allowance, Class 2 or voluntary NIC, capital allowances on a vehicle, VAT, or income from savings, dividends or property.
- Your first year of Self Assessment, when a bill can include payments on account for the following year.
- Anything specific to your own affairs. Your real bill depends on your whole tax return.
An estimate, not tax advice. Check the figures against GOV.UK and talk to HMRC or a qualified adviser about your own situation. Your figures are saved only in this browser. Use "Clear my figures" to remove them.
Dates to plan for
The rates this tool uses
All figures live in one data file and were last checked on 2 October 2026. Rates change, usually each April, so check GOV.UK before you rely on them.
Next steps
Work out what each mile costs with the cost per mile calculator, compare fuel types with the running-cost comparison, or see what is left of your fares in the earnings calculator. For keeping receipts and mileage logs, read record keeping for drivers.