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Self Employment Confusion

To those who may be able to help!

I am currently going through a recruitment process for a job role as a PA/Admin Assistant for a guy who runs his own online business thats doing really well. He's looking for someone to run the business day to day whilst he looks into new markets and sets up new websites etc. Whats great is that it would be a work from home position as it can all be done via the internet and telephone and this suits me down to the ground!

However, the one aspect of the job role that I am a bit dubious about is that he would like me to be self-employed and on a long-term contract. As I have always been employed I do not have much knowledge on being self-employed but of the research I have done it had led me to doubt whether this job is right for me afterall.

In terms of the self-employed status, can this be the case if I am working for this guy who is the owner of the business in terms of being told what to do? Am I going to have to set up my own limited company (lets say as a self employed PA) and then be contracted to work on specific projects as opposed to running the day to days?

Sorry for my ignorance, I am a bit clueless and therefore concerned if I was to be offered the job I would be taking a massive risk in terms of my own stability with money and future career prospects. Ideally this guy would like someone to develop a strong working relationship with and progress with the company (again can this be the case if you are classed as self employed?!).

Any help would be much appreciated!

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