What It Tracks in the UK
- Bank balances, Fixed-Rate Savings, stocks, funds and ETFs, gold, crypto, bonds and property, valued in GBP.
- Pensions & ISAs: Workplace pension, SIPP, Stocks & Shares ISA, Cash ISA, Lifetime ISA, Premium Bonds. ISA allowance £20,000 a year; Junior ISA £9,000.
- Loans and cards, with a payoff planner that shows which debt to clear first.
- Imports: payslips, bank statements (DMY dates and local shop names understood), invoice lists and broker holdings, read inside your browser.
Tax Year 2026/27 Income Tax at a Glance
6 April 2026 to 5 April 2027. Rules as of October 2026.
Personal allowance: £12,570, reduced above £100,000.
| Taxable income | Rate |
|---|---|
| £0 to £37,700 | 20% |
| £37,701 to £125,140 | 40% |
| Over £125,140 | 45% |
Payroll Contributions
- National Insurance (8%), up to £50,270, above £12,570
- National Insurance (2% above £50,270), above £50,270
- Class 4 National Insurance (6%) (self-employed), up to £50,270
- Class 4 National Insurance (2%) (self-employed)
Rates for England, Wales and Northern Ireland. Scotland sets its own bands for earned income. The personal allowance shrinks by £1 for every £2 earned over £100,000, and is gone at £125,140.
Example: a salary of £45,000 a year.
Income tax£6,486
National Insurance (8%)£2,594
Total £9,080, an effective rate of 20.2%. Take-home about £35,920 a year, or £2,993 a month.
Self-Employed and Freelancers
- The first £1,000 of trading income is tax free under the trading allowance.
- Class 4 National Insurance is 6% of profits between £12,570 and £50,270, and 2% above.
- If your bill is over £1,000, HMRC usually asks for payments on account on 31 January and 31 July.
- VAT registration is required once taxable turnover passes £90,000 in a rolling 12 months.
On £45,000 of profit, tax and contributions come to about £8,432, so setting aside £703 a month keeps you covered.
Key Dates
- 31 January: Self Assessment return, balancing payment and first payment on account
- 5 April: Tax year ends (use your ISA allowance)
- 31 July: Second payment on account
- 5 October: Register for Self Assessment if newly self-employed
If Something Goes Wrong
- Financial Ombudsman Service: Free, independent rulings on complaints about banks, insurers, pensions and investments.
- Financial Conduct Authority: Check a firm is authorised and report a firm or scam.
- The Pensions Ombudsman: Disputes about workplace and personal pensions.
- Citizens Advice: Free advice on consumer problems and next steps.