Difference Between Employee and Self Employed Contractor

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Employment vs. Self Employment In the United Kingdoms there are many different options for people looking for employment after school. While some may choose to work for an employer and a boss, others prefer to regulate their own work schedule and become self-employed. If an employee is considering the switch from being regularly employed to self-employed, there are a few things he or she must consider and know first. The most important thing to define is what it means to actually be self-employed. When working for someone else, an employee is generally given tasks and assignments which guides him or her through their everyday work. They are not responsible and do not suffer or enjoy the losses or gains taken by the business, for the most part. When a person is self-employed, the exact opposite is true. He or she must decide when he or she will work and how long and be fully responsible for the overall success of the company. If the business fails, the damages will be taken out of the self-employed employee’s account. As many know, employees have rights on how many hours a week they must work on average. Most employees do not work more than forty-eight hours a week and receive overtime pay for additional hours put in. When self-employed, however, these rules do not apply. A self-employed person could work seventy hours a week, if that is what is needed, and would get paid no overtime or nothing else additional. Because they work for themselves, their wages depend on what they bring in. Another responsibility that is given to the self-employed is taxing their income. A self-employed person must allot for his or her own tax payments and follow the guidelines set by the government. Normal employees depend on their employers to do this task for them and are not required to worry about this. Another right which may be taken from the self-employed comes in the form of

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