Scared of going self employed can anybody help?

[MillyStar]

Hello

I'm currently working 16 hours per week for a company, they are moving about 20 miles away and i want to stay local so i've been looking for work.

I've been offered a job which is the same hours and wage but they want me to go self employed. I'm just a bit scared really and i haven't got a clue what it involves.

I'm under my tax threshold so i don't pay tax, there will be overtime involved a few times aswell which has me worried about working tax credits as i will obv earn more than i estimate, would this just be taken out of next years award?

Also would i need to get an accountant or could i sort it all out myself?

I'm absolutely cluelss

start by reading the page I wrote for ebayers
members.ebay.co.uk/ws/eBayISAPI.dll?ViewUserPage&userid=talkinpeace
it has all the basics of running a small business and the links work

BUT
if there is "overtime" its not self employment - they are doing that to avoid paying ERS NI and they could get a nasty fine from HMRC if caught

for you though it could be the start of a new free range life

it doesn't sound like you will be self employed if you are working the same hours a week, doing the same tasks, and, as TIP says, you can get overtime.

That said, if the company are doing it for dodgy reasons, it's on them, they'll be the ones who are fined. You would need to register as self employed and do a tax return, even if you earn under the tax threshold, but it's a fairly simple thing to complete - search threads here, there's always lots of advice.