If it's your first year watch out. You'll pay tax at the end of the year plus tax for half of the following year. Payment on account they call it.also your ni contributions will seem amazingly low after coming out of employment. At the end of the tax year you will also have to pay a percentage of your earnings in additional ni contributions.
Gav, do you find it a bit of a minefield mate??
You are/ we are all paid in large amounts of cash. We are all Human with Human nature. Put aside 28 per cent of what you intend to to declare. Any other advice is p.20 per cent direct tax after expenses and 8 per cent class 4 national insurance at 8 per cent of you profit.You can earn approx £6.500 per year before any tax is due. So don't count the first £6.500.