Weekly Tax Pot
📄 Download Printable Weekly Log (PDF)
Calculating...
Move to your Tax Pot this week:
£0.00
Clean Profit: £0.00
UK Sole Trader Tax Pot Formula
To stay clear of HMRC self-assessment tax bills, sole traders can set aside funds weekly using the net profit formula:
Tax Pot = (Bank Deposits − Allowable Expenses) × 29%
- Bank Deposits (Box A): Total gross business income received during the HMRC tax week.
- Out-of-Pocket Expenses (Box 2): Allowable business costs paid directly[cite: 15].
- 29% Safe Buffer: Covers income tax and National Insurance liabilities automatically.