Sole Trader and Employment?

wullie-eng

Hi folks,

Am I legally allowed to work PAYE and as a Sole Trader?

Will there be extra tax to pay in either of the positions or would they be able to run indepentant to each other?

Look forward to hearing from you's.:o

steve1980

You are, although your business idea is an absolute non starter.

wullie-eng

Thanks for the Clear and concise answer Steve1980

PlutoinCapricorn

Many people do both - including me in the past. Your employer need not know about it - you can pay your self employment tax and NI separately.

You do need to be careful though: there may be something in your contract of employment about taking on other work. You must not become so tired and distracted that you can't concentrate on our main job, or use their facilities for your own work or receive business calls in your employer's time. Is there a possible conflict of interest? Would you be helping competitors?

I don't know about the actual work, but know that offices are always getting cold calls from people offering such services. Many of them do their own investigations. It is best to check the market and the competition before starting anything.

wullie-eng

Thanks for the reply PlutoinCapricorn,:D

There would be no conflict of interest and i would be open with any future employer.

I suppose i could go into detail about how this buisness is viable and where the money comes from but thats not necessary, to date there is about £15,000 revenue per annum with very little involvement.

Small investment of time in the right place will increas the revenue and provide a managable low risk second income.

I was more concered about the legalities of the tax side of working both.

Thanks again folks.

PlutoinCapricorn

Don't worry! Many people have a PAYE job and do other things as a sole trader - in many cases it is to help make ends meet. It really is perfectly legal - HMRC are geared to calculate tax in such cases. They will want you to pay Class 2 NI unless you earn below £5,000 or so

Have you looked at https://www.businesslink.gov.uk? You may need some kind of insurance.