Being employed and self employed

[daisydee43]

Hi

I currently work part time and would like to work self employed as well as with childcare I cannot afford to work full time but can do part time from home.
Legally I believe I need to register as self employed, pay taxes and ni to hmrc and fill out a tax return- is this it?

Do I need business account, registered company, insurance?

I will be hiring other self employed people to carry out work but they will be responsible for their own tax etc

Also what will it do to my tax credits, worried

Thank you

Also what about vat? Will be under the threshold but do I have to pay it still?

Have a read through this guide that I wrote for ebayers .... in answers many of your questions
members.ebay.co.uk/ws/eBayISAPI.dll?ViewUserPage&userid=talkinpeace

if you are employing people - they cannot "do their own tax" if you are hiring them - you NEED an accountant

Go to gov.uk, it tells you all about setting up a self employed business. I found it really useful