Employed or Self-Employed

WelshHybrid

We are in the process of buying a guest house which we will both run. I will still be doing work for my current employer - it is work that can be done from home, so do not need to travel to the office each day. What I would like to know is, should I stay as an employee (the only benefit is a contributory pension) or become self-employed, using this as an additional source of income for the guest house.

A_Nice_Englishman

HMRC say being employed or self-employed is a matter of fact rather than a matter of choice http://www.hmrc.gov.uk/employment-status/index.htm

How important are a regular income, sick pay, paid holidays etc to you?

the_optimist

You can do both. Continue your employment and be self-employed as the B&B owner.