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Self-employement

The aim is to help young people explore what it means to be self-employed or work as a freelancer or
sub-contractor. It delves into the main considerations and facts of self-employment, including top tips on
the legal requirements and tax considerations when working for yourself. It also includes a scenario to
help young people explore a real-world, practical example of the advantages and disadvantages of being
self-employed.

Key points

1.Define the different types of employment, including being self-employed, employed by someone
else, working as a freelancer and becoming a sub-contractor
2.Consider the advantages and disadvantages of being self-employed
3. Understand the potential financial implications of becoming self-employed, including taking
responsibility for tax and National Insurance contributions
4. Understand the importance of registering for self-employment with HMRC and keeping good
accounts

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