What are the benefits of being self-employed?

The main advantage of the self-employed status is that it's easy to set up and demands relatively little paperwork. You are then considered as a sole trader: you're essentially the sole owner of your business. 

You can register as self-employed through an online form and you will receive your UTR number through the post.

You will have to complete an annual self-assessment tax return, a process that can be done online or through paper form.