Welcome to OwnBoss.co.uk
Navigating the world of self-employment and running a business in the UK can be challenging. Still, you don't have to do it alone. Brought to you by the creator of PetrolPrices.co.uk, these tools are designed to be genuinely helpful, simple to use, and always free. Whether you're exploring a startup idea, need help with compliance, or looking to grow, we've curated resources to provide the support you need every step of the way.
Free UK Invoice Generator
Easily create professional, branded, and downloadable PDF invoices for your clients. Customise with your business details, client information, invoice items, and payment terms. Optionally include VAT and your business logo for a polished look. NOTE: OwnBoss.co.uk does not store or save any information you enter. All data remains private and is only used to generate your invoice on your device.
Your Business Details
Client Details
Invoice Details
Invoice Items
VAT
Payment Terms
UK VAT Calculator
Quickly calculate VAT for your invoices and expenses based on the standard UK VAT rate (currently 20%) or a custom rate. Enter the amount, choose whether it includes or excludes VAT, and we'll show you the VAT amount and the net amount.
Amount of VAT: £166.67
Net amount (Excluding VAT): £833.33
Gross amount (Including VAT): £1000.00
Business Profit Calculator
Estimate your business's net profit after accounting for revenue, expenses, and applicable UK taxes and VAT. Enter your figures to get a clear picture of your profitability.
Gross Revenue: £1000.00
VAT Amount on Revenue: £0.00
Net Revenue (after VAT if applicable): £1000.00
Total Expenses: £400.00
Profit Before Tax: £600.00
Estimated Corporation Tax: £114.00
Net Profit (After Tax): £486.00
Freelancer Hourly Rate Calculator
Are you charging enough? This calculator helps UK freelancers determine a suitable hourly rate to cover expenses and achieve their desired annual income. Input your target income, estimated billable hours, and business costs.
Required Annual Revenue: £35000.00
Suggested Hourly Rate: £35.00
UK Self-Employed Tax Calculator (Estimate)
Estimate your UK Income Tax and National Insurance Contributions (Class 2 and Class 4) as a self-employed individual. This tool provides an estimation based on current tax year rates and thresholds. Enter your estimated annual taxable earnings from self-employment to see a breakdown.
Estimated Income Tax: £5486.00
Estimated Class 2 National Insurance: £179.40
Estimated Class 4 National Insurance: £1656.00
Total Estimated Tax and NICs: £7321.40
Estimated Take-Home Pay: £32678.60
Estimates are based on the 2024/2025 UK tax year rates. Consult HMRC or a qualified accountant for precise calculations.
UK Late Payment Interest Calculator This calculator estimates the statutory interest and optional fixed compensation you can charge on overdue invoices, in accordance with the UK Late Payment of Commercial Debts (Interest) Act 1998. Interest is calculated at 8% above the Bank of England base rate (check GOV.UK for the current official rate if needed for precision), applied from the date the invoice became overdue. You may also be entitled to a fixed compensation fee of £40 to £100, depending on the invoice amount.
Calculate the statutory interest you can add to overdue commercial invoices in the UK. This helps you claim compensation for late payments. Enter the invoice amount and the number of days it is overdue. You can also include the statutory fixed compensation.
Statutory Interest Due: £10.68
Statutory Fixed Compensation: £40.00
Based on invoice value.
Total Amount Receivable (Original Invoice + Interest + Compensation): £1050.68
For detailed official guidance, see: GOV.UK: Charging interest if a business is late paying.
Getting Started & Business Registration
Understanding your legal obligations is the first step. Find out if you need to formally set up a business structure in the UK and how to do it.
- GOV.UK: Set Up a Business Official guidance from the UK government on different business structures (sole trader, limited company, etc.) and registration requirements.
Funding and Grants for UK Businesses
Accessing finance is key for growth. Explore UK-specific government schemes and other funding opportunities.
- Start Up Loans Scheme Government-backed personal loans for business purposes, available to individuals looking to start or grow a business in the UK. Offers loans up to £25,000 and free mentoring.
- Innovate UK Funding Funding opportunities for UK businesses working on innovative projects.
- R&D Tax Relief A UK government tax relief scheme to encourage companies to invest in research and development.
- Find a Grant (GOV.UK) Search for government grants and support on the official GOV.UK website.
- The Prince's Trust Provides support, including grants and low-interest loans, to young people aged 18-30 in the UK who want to start their own business.
Marketing Tools & Resources
Effectively promote your business to your target audience with these free tools.
- Google Analytics Track website traffic and user behaviour to understand your online performance.
- Canva Create professional graphics, social media posts, and marketing materials easily.
- Mailchimp Start and manage email marketing campaigns with a free plan for up to 2,000 contacts.
- Hootsuite Manage multiple social media profiles from one dashboard with their free plan.
- Buffer Schedule social media posts and analyze their performance.
Accounting & Financial Management Tools
Keep track of your business finances with these helpful free tools. Many offer features relevant to UK tax requirements like MTD compatibility.
- Wave Free accounting software suitable for freelancers and small businesses, includes invoicing and receipt scanning.
- Zoho Books Offers a free plan for small businesses with features like invoicing, expense tracking, and basic reporting. Check for UK-specific integrations or compatibility.
Networking Opportunities in the UK
Connect with fellow UK entrepreneurs, find mentors, and build valuable business relationships.
- Local Chambers of Commerce Membership often provides access to local networking events, business support, and resources. Search for your local chamber.
- BNI (Business Network International) Structured referral marketing programme with local chapters across the UK.
- Online UK Business Communities Join online forums and groups focused on the UK business scene, such as Reddit's r/UKBusiness or UK-specific groups on LinkedIn.
Business Training & Skills Development
Enhance your business skills with free online courses and training programmes.
- Coursera Offers a wide range of free courses from universities worldwide, including many relevant to business and entrepreneurship.
- FutureLearn Access free online courses from leading UK and international universities and cultural institutions.
- The Prince's Trust Enterprise Programme Offers free support, training, and mentoring to young people in the UK looking to start a business.
Essential Freelancer Tools
Streamline your workflow and manage your freelance business effectively with these free tools.
- Toggl Track Simple time tracking to log your hours for projects and invoicing.
- Trello Flexible project management tool using boards, lists, and cards to organize tasks.
- Slack Communication platform for teams and clients, with a free plan for smaller groups.
- Asana Task and project management to keep track of your deadlines and to-dos.
Mental Health & Wellbeing for Entrepreneurs
Running a business can be demanding. Access free resources to support your mental health and wellbeing.
- Samaritans Provides free, confidential emotional support 24/7.
- Mind Offers information and support to anyone experiencing a mental health problem.
- NHS Mental Health Services Access free NHS mental health support and talking therapies in England. Similar services are available in Scotland, Wales, and Northern Ireland.
Legal & Compliance Resources for UK Businesses
Understand your legal obligations and ensure your business complies with UK regulations.
- GOV.UK: Business Support Comprehensive government information on starting, running, and closing a business in the UK.
- ACAS (Advisory, Conciliation and Arbitration Service) Offers free and impartial advice on workplace relations and employment law in the UK.
- Intellectual Property Office (IPO) The official UK government body responsible for intellectual property rights like patents, designs, trademarks, and copyright.
Additional Useful Resources
For those managing business vehicles or personal transport, check out our sister site, PetrolPrices.co.uk , where you can find the cheapest fuel prices in your local area. Saving on fuel costs can help boost your business's bottom line.
Disclaimer: The tools and calculators provided on OwnBoss.co.uk are for general informational and estimation purposes only and do not constitute financial, legal, accounting, or tax advice. All generated documents, including invoices and summaries, are intended as templates or guidance only. We do not guarantee their legal enforceability or suitability for your specific circumstances. Always review and customise documents as needed, and consult a qualified professional (such as an accountant or legal advisor) where appropriate. Tax laws and rates are subject to change; always refer to the latest official guidance from HMRC. Use of these tools is at your own risk.