@Pus -- Am I correct in thinking that this would mean there would be no quota as all the email would be stored on the hard drive of my PC?
One of the features of POP is to "leave E-mail on server for NN days".
So, after you download the E-mail to your computer, the original E-mail occupies part of your quota, for NN days.
If you use your E-mail program to delete the message from your INBOX, and delete from your TRASH folder, then the message is removed from your quota.
Also, if people cumulatively send you more than than your quota, and you don't check your E-mail for a long time, your quota could be exceeded. Any more messages from them will not be delivered to you. This is true whether you use POP or IMAP.
@Pus -- My MS Outlook is already set up as IMAP. Can I easily edit this to change it to POP3?
I don't know about "easily", but within Outlook, you are allowed to change the setup for your account.
Could you provide instructions (or suggest a link) which would assist me in converting an account from IMAP to POP3 in MS Outlook.