Triginta Self Employed Salary Calculator made for self employed people
One of the most difficult things for self employed people is knowing how much of their turnover they will keep after tax and NI. What they’re interested in is not how much they receive from their customers, but how much is left for them to spend at the end of the month.
For someone who works for an employer, this is take home pay, worked out every week or month by the employer who deducts the right amount of tax and NI using the PAYE scheme. It’s fairly easy for the employer, because wages tend not to change much from one month to another.
Self employed people have to work this out for themselves, but it can be complicated, especially if their earnings (turnover) vary from month to month as they do for many self employed people. Added to this, the expenses they pay in their business, which need to be deducted from their turnover before working out how much tax and NI they will owe, are not spread evenly across the months. So for many self employed people it’s just a stab in the dark. If they get it wrong, they could mislead themselves into thinking they have more left over to spend than they actually have. Or they could make the opposite mistake.
Self Employed Salary Calculator that’s straightforward and easy to use
What self employed people want is something that is equivalent to take home pay for people who work for an employer; a straightforward figure that tells them how much of their turnover they have available to spend after allowing for business expenses and after setting aside the right amount for tax and NI.
That’s what Triginta does.
It tells you your net earnings for each month (think of it as your take home pay) and for the year as a whole up to today’s date.