I've been freelancing as a software engineer for a couple of years using an umbrella company. At the time I started, the consensus was that it wasn't worth the effort setting up your own company.
In its latest budget, the UK government has announced a significant reduction in the national insurance paid on the first few employees for 'startups' outside of London and the south-east. I've previously registered companies for charity work, but haven't had to do the pay and tax stuff.
Does anyone have an idea as to whether it will be worth while starting my own company to take advantage of the £5000 reduction in NI - would I qualify as a single employee company, and is the cost of getting in an accountant or the complexity of handling the tax myself likely to be worth it?