tier1 extension self employed

hi
i am now working for two different companies part time each..
i am getting enough of the required earnings for my extension. and my extension is due in march 2013.
actually i am paying lot of tax as i am working for two compannies.
now what my friends and colleques suggested me is if i open a company and work on behalf of my own company( like i am giving service from my company) then i can save some money from tax. but i am confused at this point as i dont exactly know whether it is the best option to opt or not at this time.
if i take this option of opening a company .
as a self employed applicant is my case going to be harder
and what all the documents i need to show for my extension please someone help me in this matter.
as i dont know any one much in this situation
please
and many thanks
bavana.

Hi Bavana,

It all depends on your earnings and the eligibility to meet the criteria.
You can go with self-employment only when you are not getting enough of the required earnings.

Please feel to free ask if you have any questions.