Limited company?

[Mrspopper]

I work full time employed so all tax pensions etc go out of salary. I have recently taken on other work as well which is paid into my account so I am responsible for the tax etc.
I am wondering the best way to deal with this? Should I set up ltd company for the additional income? It’s all new to me so any advice would be gratefully received.

Ltd Company will add a lot more admin and expense e.g. accountant needed, have to submit confirmation statements each year, pay corporation tax etc.

Unless you need a Ltd Co. then a simple sole-trader account is far better and much easier on the self-assessment tax returns you will now have to do each year (you will have to register as self-employed with HMRC).

Ltd might be more advantageous tax wise but only above a certain income, which is unlikely if you do this alongside a permanent job(?). It might be worth checking with an accountant what applies to you.

thank you both

Highly unlikely to be worth it now that tax is similar each way. There are some circumstances where worthwhile tax savings can be made but highly unlikely for a very small scale sideline alongside a job.