If you're self-employed in the UK, the amount of tax you pay depends on your earnings and is calculated based on specific brackets. For the tax year 2023-24, you're entitled to a tax-free Personal Allowance of up to £12,570. Any income beyond this up to £50,270 is taxed at the basic rate of 20%, while income between £50,001 and £150,000 is taxed at the higher rate of 40%. If your income exceeds £150,000, it falls into the additional rate bracket and is taxed at 45%. Additionally, you may be requ