I'm considering going self employed, as a sole trader, I've been trying to get my head round the tax/NI setup. Is it correct that you pay class 2 NIC's throughout the year, and then pay a lump sum of income tax and class 4 NICs off a self assessment?
How do the rates compare to PAYE?, are you better off taxwise? and is it a lot of hassle filing all the paperwork?
Sorry for all the questions, but any help/advice is much apppreciated!