Boosting income with part time self employed work

wozmand

Hi,

I am currently a full time public sector employee, I am looking at trying to start doing a little bit of consultancy/advice work part time/casually as a way of increasing my salary. At this stage I don’t foresee there being a large amount of interest in the work that I will be doing (offering some sales advice to companies) however I guess there is potential to earn up to £5,000 in a 12 month period if things go well.

Can anyone offer any advice in terms of start-up, would I be best registering as a sole trader with HMRC? If so are there any start-up costs which I need to be aware of, or are the only costs related to any profits which are detailed annually via a self-assessment tax return?

Any help will be greatly appreciated.


Apologies I have also posted this within the boosting income thread.


Thanks,
Mark.

ohreally

I would seek consent from your employer before embarking on this, also you may have to sign a WTR op-out.

wozmand

Hi, thanks for the feedback, just curious (and not disagreeing) why would I need to check with my employer? The work won't conflict with my day role and the time I spend on it will be evenings and weekends?

Cheers
Mark

ohreally

Public service will most likely be policy driven that requires you to have express permission before undertaking other work.
I'm not suggesting this would become an issue, simply have the conversation first (you may be prudent to get written conformation).

wozmand

Thanks much appreciated.