How much tax should I set aside as a gig worker?
A rough rule of thumb: set aside 25–30% of your gross gig earnings for tax and NI. This covers:
- Income tax at 20% on profits above the personal allowance (£12,570)
- Class 4 NI at 6% on profits between £13,570 and £50,270 (2% above)
- Class 2 NI at £3.45/week if profits exceed £12,570
Your allowable expenses will reduce your taxable profit, meaning the actual tax bill will be lower than 25% of gross — but it's safer to over-save than under-save. Put tax savings in a separate savings account so it's not accidentally spent.
When do I pay the tax bill?
Self-assessment tax bills are due on 31 January following the end of the tax year. The 2026/27 tax year ends on 5 April 2027. Your first payment on account (advance payment) may also be due — typically 50% of your estimated tax bill paid in advance on 31 July.
If you don't pay on time, HMRC charges interest and potentially penalties. Budget ahead.
What is the trading allowance?
If your gross trading income is £1,000 or less in the tax year, it's covered by the trading allowance and no tax is due. However, if your earnings exceed £1,000, you cannot claim the trading allowance AND expenses — you must choose one or the other (typically expenses is better for most gig workers with genuine business costs).
Official guidance: GOV.UK Self-Assessment Tax Returns and GOV.UK Working for Yourself.