A summary of self-employed tax rates for 19/20
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Tax news
8
August 2019

A summary of self-employed tax rates for 19/20

The tax rates will change depending on whether you are a Sole Trader or a Limited Company. We’ve tried to make this easy to understand with a summary.

Jamie Trowell
Jamie Trowell
Accounting Lead at Coconut
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Being self-employed means you’re either a Sole Trader or a Limited Company. And the tax rates and rules that apply to you will change depending on which of the two you are.

To make things a little more interesting, as a limited company you then also have two types of taxes. Those that apply to you as a ‘company’, and those apply to you as an ‘individual’ - the director of that company.

We’ve tried to make this a little easier to understand with a quick overview below, with helpful links to find more information on each.

Just click on the ticks below if you want more information about a specific type of tax.

LTD – tax owed as the company

LTD – tax owed as an individual

Sole trader

Corporation tax
✔️
VAT (earnings +85k)
✔️
✔️
Income tax
✔️
✔️
Class 1 National Insurance (Employee)
✔️
✔️
National Insurance (Employers)
✔️
Class 2 National Insurance
✔️
Class 4 National Insurance
✔️
Dividends
✔️

Unsure on whether you should be operating as a Sole Trader or a Limited Company? We have some guidance on this too, here.

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Coconut is the trading name of Coconut Platform Ltd, company number 09904418. Coconut is registered with the Financial Conduct Authority (FCA) as an Account Information Service Provider under the Payment Services Regulations 2017 (reference 931194).

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