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Unincorporated profits

Calculating your personal liability to tax on your profits is not straightforward. The calculation starts with your business profits or share of partnership income which is then subjected to a number of adjustments, add backs and deductions.

This 2012/13 calculator uses current year tax rates to tax accounting profits made before 5 April 2013.

The tax and class 4 National Insurance liability is due for payment in two equal instalments on 1 January 2013 and 1 July 2013. However, the payment you make on 1 January 2013 will also need to include any capital gains tax due for the tax year 2011/12.

Sounds complicated? Yes, it is which is why we recommend that you contact us if we have not already written to you confirming the amount of tax you are due to pay in 2013.

Please continue and enter values using the following options.

Profits
This is your annual profit for the account year ended before 5 April 2013.
e.g. Plant and machinery. Not property, goodwill etc
  1. Depreciation is one of those items in your profit and loss account that is not an allowable cost for corporation tax purposes.
  2. Tax relief is available for certain capital expenditure. This calculator only allows for capital expenditure incurred during the year you are looking at.

Corporation tax rates

Main capital allowances

Tax and the self employed

Tax and your share of partnership profit

Please note that the results you see on your screen are estimates only. If you wish us to look further you will need to contact us.

Individuals

As with all aspects of our service we aim to work with our clients to enable them to maximise their wealth and to build value and security for the family as well as the business.

We find that our clients enjoy participating in the planning process and hence our commitment to this content-rich website.