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  • Writer's pictureBaktash Afrooz

2023-24 Self-Employed Allowance & Tax

Updated: Aug 15, 2023

The self-employed personal allowance has remained at £12,570 for the last two years.

The personal tax allowance normally increases slightly each year, but the threshold for 2023/24 has been frozen at the 2022/23 limit of £12,570. You'll only pay income tax on any earnings which are above the £12,570 threshold. So, if you earn £18,000 in a tax year, the taxable element of your income is £5,430

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