UK Freelance advice
Out of context: Reply #3
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- jamble0
You've probably got two reallistic options:
1. Register with HMRC as self employed
2. Form a limited companyYou can do both while working full time and if you send them a P60 (I think) that tells them that your full time job is your main source of income.
You'll end up getting hit for more tax if you're registered self employed and beware your first year tax return because they'll hit you for a payment on account (http://www.hmrc.gov.uk/MANUALS... which is a real bastard.
If you're registered as a limited company, you'll have to pay corporation tax but it works out better.
My best advice is to get in touch with a qualified accountant to figure out the best way to go in terms of setting up. It might cost you a little bit but there's no substitute for the advice.