Becoming self-employed

What are the advantages of becoming self-employed?

• You control your working hours

• You can take up contracts for work that you choose

• You can control the skills you develop

• You can fit work around your personal life in the way you want

If you are self employed you could work for several companies at the same time

• True

• False

If you are self employed you can use company money to buy things you want for yourself

• True

• False

If you are employed on a zero hours contract your employer does has to offer you regular hours

• True

• False

If you are employed part time you will usually work 37.5 hours a week

• True

• False

Which of the following are different working hours for employed people?

• Night shifts

• Part time 09:00 - 14:00

• Monday - Wednesday 09:00 - 17:00

• Working different contracts

What are the disadvantages of being self employed?

• You have to find the work for yourself

• You have to be disciplined with getting the work done

• You have to manage your money which may fluctuate monthly

• You may work long hours one week and less the next

What are your responsibilities at the end of the tax year if you are self employed

• You have to calculate your profit

• You have to pay tax on your profit

• You need to work out your total hours

• You need to pay National Insurance

What are the advantages of being employed

• Job security

• You provide your own tools and equipment for the job

• Your employer pays your tax and national insurance for you

• Regular hours

Your expenses are what you pay in order to get the job done when you are self employed

• True

• False