Self-employed individuals, also known as sole traders, are individuals who own and operate their own business, rather than being employed by someone else. Self-employed individuals are responsible for their own taxes and are not entitled to the same benefits and protections as employees.

Self-employed individuals are responsible for registering their business with HM Revenue and Customs (HMRC) and for keeping accurate records of their income and expenses. They are also required to submit a self-assessment tax return each year and pay taxes on their earnings. They are eligible to claim many expenses that are necessary and wholly, exclusively and necessarily incurred in the performance of the business.

Being self-employed also means that they are responsible for their own pension and healthcare benefits and they don't have the same rights to sick pay, annual leave, or redundancy pay as employees. They are also not eligible for the same unemployment benefits if their business fails.

Despite the additional responsibilities and lack of benefits, many people choose to be self-employed because of the freedom and flexibility it provides. Some people like the idea of being their own boss and have the ability to work on projects or in industries that they are passionate about. It's important for self-employed individuals to understand their tax and legal obligations, to keep accurate records of their income and expenses, to ensure that they are paying the correct amount of tax, and to claim all the expenses they're entitled to. And if you're uncertain about your tax position, it's always a good idea to seek professional advice from an accountant or tax advisor.