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Your money and tax

You know what you earn.Do you know what you can keep?

When you're self-employed, knowing what you've been paid is only part of the picture. You also need to account for allowable costs, understand your estimated tax and know when payments are due.

We bring your recorded tutoring income, costs and mileage into one place. Choose the level of detail you need, see how your estimate is worked out and keep a record of the money you're putting aside.

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Tax figures are estimates, not financial advice. Your actual tax liability may differ.

Choose how much detail you need.

Start with Just tell me what to put aside, which asks three questions and accounts for the £1,000 trading allowance.

If you want to include your costs and mileage, choose Include my costs. For a broader picture, The whole picture also includes pension contributions, Gift Aid and last year's bill.

Your tax year view shows Paid to you since 6 April and On course for the year. The estimate uses money paid to you, invoices issued and sessions booked in your calendar that haven't yet been invoiced. It doesn't guess at income that isn't recorded.

Know what to put aside.

We calculate how much to put aside from every pound you're paid. Record money you've put into your tax pot or taken out, then see whether you're On track, Short or Ahead.

The tax pot is a record you keep, not a bank account. We never hold or move money for you.

Your tax potShort by £300
Put aside

12pfrom every £1 you’re paid

Saved so far £1,078By now you’d want £1,378

Where each £100 you earn goes
£3£12£85 is yours to keep

Understand how the estimate is worked out.

See where each £100 you earn goes. The How your tax is worked out view takes you through the figures step by step: what you've been paid, allowable costs, the tax-free part, income tax and National Insurance.

We use cash basis accounting and account for the relevant personal allowance, income tax bands, Class 4 National Insurance, eligible student loan plans and any PAYE job you've recorded. Scottish income tax bands are used for Scottish taxpayers.

The estimate supports the 2025-26 and 2026-27 tax years. It doesn't cover every type of income or every tax charge.

How your tax is worked out
  1. You’ll be paidthis whole tax year£24,600
  2. Less the £1,000 you can claimwithout receipts, as it’s more than your costs−£1,000
  3. Your profitwhat tax is worked out on£23,600
  4. The first £12,570 is tax-freeeveryone gets this−£12,570
  5. Taxed at 20%the rest of your profit£11,030
  6. Income tax20% of £11,030£2,206
  7. National Insurance6% of the same £11,030£662
Your bill for the yearabout £2,868

Keep track of HMRC payment dates.

The When HMRC wants it section explains the two usual payment-on-account dates: 31 January and 31 July. It shows the relevant amounts and explains payment on account in plain English, alongside HMRC’s terminology.

Your actual tax liability may differ. HMRC's own calculation, when you send your return, is the figure that counts.

Next to HMRC
  • 31Jan 2028~£4,302Balancing payment and 1st payment on account
  • 31Jul 2028~£1,4342nd payment on account
Why so much in January? In your first year, HMRC asks for the whole bill and the first payment on account towards next year on the same day.

Keep your costs and mileage together.

Record costs under categories such as books and resources, travel, phone and internet, training, insurance and checks, advertising, equipment, room hire and bank charges.

For journeys, record where you went, why you travelled and the miles there and back. The mileage calculation uses HMRC's 45p per mile for the first 10,000 miles and 25p after that. Card and Direct Debit fees are added as costs automatically.

You can also add income from months before you joined, so your tax year view can include earlier records.

Prepare figures for your accountant or your return.

Download a one-page Tax year summary PDF, plus spreadsheets of your payments, costs and mileage, to share with your accountant.

If you're filing yourself, Start my tax return guide walks through HMRC's online Self-employment (short) pages. It guides you box by box, with each figure ready to copy, and can be printed. It's designed for use after 5 April.

We don't submit your return to HMRC. You or your accountant copy the figures across, and the guide doesn't cover the full return or turnover above £90,000.

For your accountantEverything they need for 2026–27: a one-page summary, and spreadsheets of every payment, every cost and your mileage.
Summary (PDF)PaymentsCostsMileage
Doing it yourself?We’ll go through HMRC’s form with you, one box at a time, with each number ready to copy.
Step 5 · What you were paid
The box called “Your turnover” £24,600Copy

Your questions, answered.

Does Lucy Learn tell me exactly how much tax I’ll pay?
No. The figures are estimates based on the information recorded in the app. Your actual tax liability may differ.
Does Lucy Learn submit my tax return?
No. The filing guide helps you work through HMRC’s online Self-employment (short) pages, but you or your accountant must submit the return.
Can I include income from a PAYE job?
Yes. The estimate can account for a PAYE job. It doesn't cover other income such as savings, dividends, rent or capital gains.
Can my accountant sign in to my account?
There are no accountant logins. You can download the summary and spreadsheets to share with them.

Know what to set aside.

Keep an eye on your estimated tax, costs and payment dates throughout the tax year.

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