Description
For side hustles with annual sales above £1,000, our Excel spreadsheet side hustle sales tracker and tax calculator lets you track and analyse your sales data whilst keeping a handle on your estimated tax and national insurance liability. If you are also employed, you simply enter your annual salary, and the spreadsheet will estimate the cumulative tax for both your employment and side hustle income monthly. The spreadsheet estimates any tax and national insurance owing on the side hustle, making sure you set aside sufficient funds to cover any tax liability.
The spreadsheet lets you track sales by product, platform and payment type, providing figures and charts. You can track your business expenses as well. There is a section that summarises the sales, expenses and net profit by month and quarter. There are two tax estimates, one deducts the trading allowance from the sales, whilst the other deducts business expenses, so you can see which option is most tax beneficial. This product is suitable for the financial tax year 2026/27 (April 26 to March 27).
The product includes instructions and information about the £1,000 annual trading allowance and self assessment tax returns to HMRC.
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