You don't have to use your own equipment, I was a self-employed welder working all over on different contracts and never used my own equipment. I also think there would be less paperwork as all you need as an invoice saying X
amount of hours labour for X amount of money, this would then be put in as a labour cost into your company expenses.
Employing someone would mean wage slips, tax, NI & employers NI, along with all the legalities etc.
As long as you get employers liability insurance you will be ok, I have Gleamimg and this covers me for using sub-contractors and paying them upto £15000 anually.
Don't get me wrong though, as soon as I have enough work to employ someone full time, then this is what I would do. But in the short term, using someone who is self employed and paying them for their labour is a good option.