Self employed and getting paid, whats best?
I am fortunate enough to have a commercial flying job, with a good company. I am even more fortunate in that I am to start commercial instructing on a part time basis. I currently instruct, examine at PPL level, getting paid directly by the flight school, who sort out tax etc.
In my new job I will have to invoice the company monthly and they will pay me a gross figure, so I now have to pay tax, NI etc. I do not know of an accountant, so was looking for some advice on where to start. I have heard of becoming VAT registered and starting some sort of company eg "theflyingbus flight services" or maybe even both, in order to give Mr Darling as little as possible, but beyond that have not got a clue!
I am a British citizen, higher rate tax payer and hopfuly the extra income will be £500+ per month.
Any help or starting points will be greatly received
thank you