I have been self employed for may many years and can offer the following advice and observations. In that time I found myself for about 1 year working on PAYE in an office part time as well as being self employed for all my other business. The Government do NOT want people to be self employed because they can't be sure of getting the money. I once had a contract to work in an office and the tax people came and immediately put me on PAYE. I walked out the door with them never to return because I did not want to be on PAYE but I lost about a month's (self employed) wages because that is how much the Inland Revenue decided I should have been paying in the time I was there, in taxes. The Pros: you are responsible for yourself, you can have a lay in, and if you work from home you can work all night if you want depending on your business! The Cons: you are responsible for yourself, you may have a lay in because there's no work! You can not claim any benefits except child benefit. I have probably lost a lot as a result (I earn very little) but I am 'appy. All depends on what you're doing. But I would always recommend trying, because I absolutely hate the PAYE system.