TaxShock

Most people don't get caught out by the tax rate — they get caught out by the timing. You earn side income across the year, spend it as it lands, then HMRC asks for last year's tax and half of next year's, all in the same January. TaxShock is a free estimator we built for exactly that situation. Enter your PAYE salary and your self-employed income, and it shows what you're likely to owe, when it's due, and how much you should be putting aside each month so the bill is boring instead of brutal.

Who it's for

• Employed people with a freelance, consulting or side-hustle income
• First-time Self Assessment filers who've never budgeted for a tax bill
• Sole traders unsure whether payments on account will apply to them
• Anyone who wants to know their real take-home across two income sources
• Business owners preparing for Making Tax Digital for Income Tax

What it does

• Estimates your Self Assessment bill from combined PAYE and self-employed income
• Shows Income Tax and National Insurance separately so you can see where the money goes
• Explains payments on account and when the 31 January and 31 July dates hit
• Highlights the monthly amount to set aside to cover the bill comfortably
• Flags whether and when Making Tax Digital for Income Tax applies to you

How it works

1. 1Enter your PAYE salary and the profit from your self-employed or side income.
2. 2Add allowable expenses and any pension contributions so the estimate reflects reality.
3. 3See your estimated bill broken down by Income Tax, National Insurance and payments on account.
4. 4Take the suggested monthly set-aside figure and automate it into a separate savings pot.
5. 5If the number is uncomfortable, book a free call and we'll look at structure, pricing and profit.