I've been thinking of building up my freelance work with the intention of eventually going full time working for myself but as I've no experience in seting up or running a business, I wondered if there was anything I (legally) have to do before I start earning money and anything thats perhaps best practice for both setting up and then day to day running? A few questions have just popped into my head: When taking on a client its expected that I (the design company) present a contract to be signed by myself & the client to avoid either of us getting ripped off. Is this just a standard contract that can be purchased online and printed off as and when or do I need a legal beagle to draw up a contract on an job by job basis? How will my new income (all beit very small initially) affect my current full time income with regards to tax, NI etc... I know that being VAT registered means you can claim VAT back for business related expenses but does the business have to be taking over a certain amount annually to become VAT registered? How hard is bookkeeping?