Once again I come asking for questions. Crap at work is making me to think about leaving and going freelance. Apparently my hourly rate is £130 an hour, alot of this is a result of incredible overheads I should point out I see a fraction of this. We're currently paying a company to write device drivers (something we usually do when we're not too busy) for approx. £50 an hour, it takes them 2 weeks to write one. I can usually knock one out in an afternoon.

Also, the possibility of some other work outside the company may become available soon which, under the current regime would constitute a conflict of interest. What I'd like to know is, what are legal/tax implications of going freelance? Any comments?