At 16 to live on your own you need your parent or guardian's permission. If you leave home without their permission, you could be reported to the police as a missing person and be brought home if you are considered 'at risk'.
Presumably that means if you were to leave without permission and were reported but you could show that you are financially and emotionally stable, you wouldn't be forced back home.
However, do you really want to cause that kind of tension with your guardians? Best bet is to talk it through with them maturely and prove that you are responsible enough to be on your own.
Alternatively, do you have any trustworthy friends aged over 18 you wouldn't mind living with? They could be your tenant!

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