Setting up as self employed

Scoobymoo

Hi!

I’m looking for some advice on becoming self employed if possible. I have been offered a job working with data that will probably be between 8-15 hours a month, some of those hours worked in the office and some working from home. The company would like me to be self employed which I thought was quite straightforward. I’ve now looked into this on the web and I am feeling slightly panicked!! The information I have gleaned (if I’ve looked correctly!!) is that I may need some kind of home insurance, liability insurance, that I will need to put various items through to reduce my tax and more than likely, I will have to employ an accountant to deal with it. I suspect an accountant will cost more than my monthly wage so I’m beginning to wonder if this is worthwhile but the extra cash is much needed at the moment! I think I’d be fairly competent about filling in a basic hours worked tax return but the rest scares me!!

There is a small chance that the company might take me on the payroll but I’m assuming that they won’t want to pay holiday and sickness, which is fine, but I don’t understand how they can take me on without paying it? Basically, I don’t how this would work and the hours are not guaranteed. They are a relatively small company so I’m not sure they will be able to advise and I don’t want to become a problem to them before I’ve already started!!

Can anyone offer any advice on self employment or ideas on the best approach to the company? Also if I do have the option to go either self employed or payroll, which would be best?

Thank you!!

Tamsy

Much depends not on the name self employed or employed but the rights you have e.g. The control the person giving or providing work has on you as a general rule of thumb, the more control e.g. Work time, tasks, etc... The more likely you are employed

phill99

My accountant costs £300 a year. It costs less than you. Think. And he always saves me at least his fee in tax!

Scoobymoo

Thanks for the responses! At the moment I will probably be earning as little as £200 a month - it all matters to me though but not sure it's enough to justify an accountant! Still a bit confused - I think answering some of the self employed/ employed questions, then essentially I am employed... but as it's for no more than 1-2 days a month, I don't need to worry about the holiday/ sick pay as I can probably always do the work required so I'm happy to be self employed but not if it costs me more!!