dilemma

[stilllearning]

How would I go about setting up another company on the side of my current job where I'm on the books?

 

[mayfair]

First off i think you better speak to your current employer !

 

[trev]

Register with HMRC as self employed, get insurances, get scammed up if necessary,advertise for business/market yourself, prepare to be sacked if and when your employer finds out about it

 

[stilllearning]

Work for an industrial firm just doing domestic work on the side

 

[stilllearning]

Won't need to register as just subbing for another small firm doing small domestic jobs

 

[stilllearning]

Could I not just declare the money that I earn from other works

 

[trev]

Probably, talk to HMRC/an accountant mate.

 

[Badged01]

Think the advice is given above 1) Speak to your employer whether you can do work outside of his employment 2) If you can speak to HMRC as to how to go about it.

As far as Im aware you can do what you proposed and you just do one tax return at the end of the year declaring all your earnings and expenditures.

 

[dawsirn]

Register with HMRC as self employed, get insurances, get scammed up if necessary,advertise for business/market yourself, prepare to be sacked if and when your employer finds out about it

thats pretty much how i did it! was worth it though

 

[Badged01]

thats pretty much how i did it! was worth it though

Getting sacked?!?!

 

[dawsirn]

Getting sacked?!?!

yes, rather be on my own then still working for the previous firm. Could argue the ethics of it but cant say i lose much sleep over it.

 

[NickD]

If your employer is the sort that it won't create ripples/aggro if you ask the question then ask the question. If not then check your terms and conditions of employment and their published policy if any on the subject. They can't have a binding "no work for others" policy if it isn't in your contract somehow. Then again some firms are swines and will sack you on an unwritten whim...again it depends what sort yours is. Doesn't *sound* like you're going self-employed just taking another source of income from a second, casual employer, so I imagine you could just fill in a full tax return at the end of FY or simply just declare the extra income to HMRC without the pain of a full tax return. But best to ask HMRC as others have said.

 

[Brightspark2]

This may help...

HM Revenue & Customs: Employed and self-employed tax and National Insurance