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I have recently started working part-time with a local design agency. As I am only there 3 days per week, I am paying very little tax from my wages due to me being only slightly above the threshold for tax-free allowance.

But I also freelance the rest of the time, so I'll get taxed on everything that I earn from freelancing (though I won't technically need to pay that for another 21 months).

How much should I set aside to pay my self-assessment for the 2017/2018 tax year? Should it be 20% of everything I earn through freelancing?

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If you are self employed, you must register as such with HMRC. You will need to allocate 20% for tax and an additional 9% for National Insurance (total 29% off the top).

If you will be earning more than around £40k freelancing, get a Ltd company set up. For this, you will need an accountant. They will tell you how much to set aside.

If you are umbrella, don't do anything, it's all handled at source.

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