Working + Setting up own company?

[rio]

I work full time and want to do some freelance work from abroad (which won't get me lots of money). In that case do I need to register a company or should I work as a freelancer. Which one is better for managing the tax etc.?

Someone told me that if you are working full time, its a bad idea to set up your own business, because you will lose unemployment benefits (if you lose the job) and there could be problems with pension etc. Is it really so?

[cors187]

Rule-
Trader/owner/company= obligations+ unlimited potential
employee= care free+ standard operating system