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The Personal Allowance applies to all UK taxpayers. For the 2020/21 tax year it’s £12,500.
If you earn over £100,000:
However, you can reduce your adjusted net income by paying into private pensions and charity donations.
Use this income tax calculator:
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As a self-employed you have to pay your income tax and national insurance contributions yourself during your annual self assessment. Our calculator helps you quickly assess how much payment is due.
However you may be eligible for a tax refund when:
In your case when you earn £49,000:
You pay no income tax on first £12,500 that you make
You pay £7,300 at basic income tax rate (20%) on the next £36,500