Being an independent contractor comes with so much paperwork you may lose the will to live. c2 registration, vat registration (essential if you reach a certain limit but voluntary for all levels of income - and you want this to be able to claim back VAT on all your business expenses), year end returns, books to be kept, accountants to pay, etc + you have your own insurance costs to add to the equasion. You may also be required to pay for all tools and PPE. Company is also saving a packet by not paying their portion of your PRSI and not having to give you annual leave (+ any other leave entitlements they may have). You also lose a lot of the protection provided by HR Legislation (Notice pay, protection against unfair dismissal, redundancy entitlements,e tc) and they can cancel your employment with minimal notice.
Company is already at risk because you could legally be defined as an employee anyway regardless of your choice or theirs.
If you go solo there is no harm and it would be my recommendation that you still get a contract outlining the job description, period of employment, rate of pay, notice period, etc. If they're offended at the request - move on!
I agree that for this level of income (and I'm not being dismissive of the income), all the stuff that goes with being an I.C. is not really worth it.
Good luck