Employed and Director of a company at the same time?

Hi, I'm living in UK - employed by a company. I do extra work as a translator and I'd like to set up a translation agency as a sole director of the company. Is it possible? and do I have to pay for my NI for the company even if the company doesn't make any profit/income? Currently my NI & income tax are deducted from my salary of my employing company. and the office will be my home, then can I expense the flat rent, all utility bills as well?

could be...

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