Meter Max

Guides › Guide 7

Know what to save for tax

Self-employed drivers don't have tax taken from their pay, so the bill arrives later. Meter Max tells you how much to put aside as you go, so it's never a shock.

Find the box

Open the Home screen and look for the box called What to set aside for 2026-27 (the year changes each April).

If it says "Nothing to work out yet", you haven't added any takings for this tax year. Add some (see guide 3) and the estimate appears.

The What to set aside box on the Meter Max home screen, showing how much to keep back, profit so far, income tax and National Insurance

What each figure means

FigureWhat it means
Keep backThe most important number: the total to save for this year's tax so far. It also shows as a percentage of your profit, which is handy for working out how much to save each week.
Profit so farYour takings minus your allowable expenses (including mileage). Tax is based on this, not on everything you earned.
Income taxTax on your profit, after your tax-free Personal Allowance.
Class 4 NINational Insurance that self-employed people pay on profits.
Student loanOnly shown if you told the app you have a student loan.
Due byWhen the tax has to be paid to HMRC, usually 31 January after the tax year ends.
It's an estimate The figure assumes you have no other income, such as a part-time job, unless you've added it under Tax › Tax year. HMRC's own calculation is what you actually owe.

A simple saving habit

  1. Open a separate savings account

    Most banks let you open a free savings "pot" in their app. Call it "Tax".

  2. Once a week, check Keep back

    After adding your week's takings and expenses, look at the Keep back figure on the Home screen.

  3. Top up your tax pot to match

    If Keep back says £1,200 and your pot has £1,000, move £200 across. When the bill comes, the money is waiting.

Your full tax year

For more detail, tap Tax at the bottom, then Tax year. There you can:

  • see step by step how your profit turns into tax (From profit to tax);
  • add other income, like pay from a job, savings interest or dividends, so the estimate is more accurate;
  • add pension payments, which can reduce your tax;
  • see whether HMRC may ask for payments on account, which are advance payments towards next year's bill.

Keeping it accurate

  • Add all your takings, including cash jobs and tips.
  • Add every business expense and your business miles. They lower your profit, and your tax.
  • Check your details in Settings, especially Where you live (Scotland has different rates) and Student loan.