Andrew just like match fishing keep it simple. Like any type of fishing a great deal depends on the venues you’ll fish.
If you are looking at still waters, buy a simple set up such as a 9ft 6in, 7 AFTM rod and a matching reel this will cover most reservoir and decent sized stillwater work.
Buy a decent reel with 2 spools and a weight forward, (W/F), floating and medium sink line, (if you’re only doing it in summer get an intermediate line instead of the medium sink).
Rod and Reel wise their are plenty of good deals around at the moment and this reel from Leslies of luton is unbeatable
http://www.leslies-luton.co.uk/store/product/2208200/OKUMA-INTEGRITY-1-FLY-REEL-7-8%23/
For the price on offer I’d advise buying 2 as the reel price is cheaper than a spare spool, however if they’ve sold out the Shakespeare Summit is a very good non nonsence fly reel which comes with a spare spool, (like thir coarse rods and reels their fly gear is exceptional value for money).
There are many good rods available and I’d recommend the Shakespeare Trion which is a very good rod at a very good price. You’ll may also find Daiwa Excelers at a very good price http://cgi.ebay.co.uk/DAIWA-EXCELER-96-6-7-2-PIECE-FLY-ROD-EX967-2-96_W0QQitemZ260314619042QQcmdZViewItemQQptZUK_SportingGoods_FishingAcces_RL?hash=item3c9bf5dca2 and both rods offer good value for money.
Don’t buy extra cheap lines as these are what makes the rod work correctly. The Shakespeare Oddesy and Worcestershire lines are very good, (most UK fly lines are made by Shakespeare), and if you look about you can get them at a good price. There are some cheap lines on ebay but they can be hit and miss so make sure you read the feedback first.
Fly wise you need a few lures such as dawsons olive, cats whisker, and black tadpole, (buy them in threes of each kind). Nymphs go for some fritz goldheaded montannas, some hare’s ear, pheasant tail and a variety of buzzers. Dry fly’s go for some hoppers, adams irrisistable, bibio, (can also be used as a wet), olive wulf, shipmans buzzers and some cdc emergers.
Flys are very much like floats you can collect them forever however we all have our favourite patterns but the above will work on most venues.
All you need next is a fly vest to store everything some line sink, fly floatant and fly drying powder, and a few tapered leaders.
Don’t over complicate matters by trying to fish a team of flys otherwise you’ll get problems so stick with one fly until you master casting.
If you don’t know a good fly angler to teach you the basics of casting it’s worth investing in a lesson as casting isn’t like coarse fishing and is the biggest downfall of most fly anglers. If you can cast half of your line out within a matter of weeks you will be doing well.
Don’t worry because you’ll hear loads of people saying they can cast to their backing but in reality they’ll be 5-10 yds off it.
Most of all get out and enjoy it as it a a very good diversion to coarse fishing