How much can IÂ earn as a freelancer?
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How much can IÂ earn as a freelancer?
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If you freelance as a sole trader then your take home pay (after expenses) is essentially your profit, minus your tax and NI contributions.
Annual income Annual take home pay Monthly take home pay £20,000 £17,270 £1,440 £40,000 £32,800 £2,730 £60,000 £47,770 £3,980 £80,000 £61,210 £5,100 *This assumes you will claim 20% of your income as expenses
As your tax is based on your profits after allowable expenses, you must make sure you are claiming for everything that you are entitled to and your accountant can advise you of this.
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