The post you are reporting:
Depends on what sort of self employment - I am looking at going contracting (i.e. selling my labour and knowledge)
The pros are an obscene day rate (I work in financial services), the ability to choose to an extent who I work for, the tax rate I end up actually paying on my earnings, the ability to offset a proportion of my household bills against the company.
The cons are no sick pay, no paid hols, accountants bills, statutory accounts, not getting paid promptly, having to remember to invoice, annual tax returns for both you and the business, the uncertainty of where the next job is coming from, dealing with job agencies, IR35.
It is not for everyone, but can be incredibly rewarding if you have the right mind set and discipline