full image - Repost: I made a lump some money after sending my tax return (from Reddit.com, I made a lump some money after sending my tax return)
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Hey, allSo I'm studying VFX and have been doing freelance work on the side for the last 2 years (I have 2 years to go). I purposefully hit just under the personal allowance threshold as I want to focus on my education but also want to do the easier work to build up my portfolio and network. So I earn about £1000 per month give or take.That all changed this month after the US writing/acting strikes ended and I was brought on to a project that basically paid me half upfront and half after completion. Essentially, I have £10K now with another £10K due between Jan/Mar.Problem is, I have already sent my tax returns off as I have a pretty stable income and always hit just under the 12K. I didn't account for this and now I'm not sure what I should do.BONUS QUESTION: I only have 2 years to go and I'm thinking that since I'm now catching the eye of some of the bigger players, should I make a Limited Company? I do a whole host of VFX services and I would love to open my own studio. After this job, I could have another lined up almost immediately and I would rather all the money go into a Limited Company rather than freelance as I want to expand and keep my smaller work as something personal because its so easy.Thanks for the advice!
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