Self Employed vs Jobseekers

grudz

I'm currently on JSA and I've been looking into becoming self employed as an "Odd Job Man" and have been working out finances on a worst case scenario. I have been using entitledto for for the estimated benefits if things don't go to plan.

So with a £0 profit

Housing Benefit and Council Tax Benefit will remain the same
Child Tax Credits will remain the same
Child Benefit will remain the same

JSA of £105 per week will be replaced with Working Tax credits of a few pence short of £90.

So for a shortfall of £15 per week I could get rid of the "unemployed" status and have the freedom to earn money through a variety of sources. I have cut my expenditure by £25 per week to make up the difference.

I have a few questions and concerns:
Would it look better on my CV when applying for more secure full time work?

I'm not clued up with self assessments so could someone please point me in the right direction (I'll be researching this myself too)?

Could I also do agency temp work?

Would agencies allow me to be responsible for my own Tax and NI?

Ultimately, in your own opinion, would it be generally worthwhile?

Emmzi

depends. are you any good at odd jobs?

Hammyman

grudz wrote: »

Could I also do agency temp work?

Yes.

Would agencies allow me to be responsible for my own Tax and NI?

Yes however they may want you to be set up as a Ltd Company.

Ultimately, in your own opinion, would it be generally worthwhile?

When I couldn't find a job in 2008, I created my own. 3 years later still trading and on a five figure turnover for part time.

Golden rule of self employment if you actually want it to work well is to stick to what you know.