Setting up as self employed while been an employee for another company

[Macca2009]

Hi all, just hoping to get some advice. Has anyone else started up there own business working self employed, while also working full time for another company. How do you register as this and what help can you get. I have no idea about how it affects tax or NI? Also what about insurance? I am a plumbing heating engineer also training to be gas safe registered.

Any help and advice would be appreciated.

Thanks

Richard

 

[gaspastemania]

You need to notify the tax office that you have a business as well as a day job .obviously be paying more tax out etc and will need your own public liabilty as well as possibly your own gas safe ,taxman will probably take bit more interest in you as well

 

[Macca2009]

cheers pal, is there anyway my gaffer could find out that I have a second job. Will my tax code or anything change?

 

[Toddyplumb]

Why does it matter if your Gaffer knows

 

[Azzerus]

i'm in the same boat, except im office boy during weekday, and was hoping to set up as Evening and Weekend Plumber until i get a decent enough client base. but havent got the slightest idea how to go about it...

 

[Macca2009]

I know what my gaffer is like he will spit the dummy out, wondering if im pinching fittings or using his van ect. plus he's just put me through my commercial gas. don't want to pee him off.

 

[gaspastemania]

well if he sacks you for setting up another business then its unfair dismissal, he will find out as word generally gets around .

 

[kirkgas]

well if he sacks you for setting up another business then its unfair dismissal, he will find out as word generally gets around .

unless its in your contract that you cant set up a rival business, as long as it is done properly your gaffer wont have a prob, you aren't using his van, stock, FGA and giving his existing clients your business card are you? if you are you should get the sack (sorry if you think that is harsh but thats my opinion as you are stealing from him) there has been a post lately about a boiler sales rep doing the exact same thing as i describe and he got pelters
your gaffer will prob find out as your tax payments will alter and he could notice you pay more total tax than he takes from you

 

[dontknowitall]

It is none of his business as to what your tax code is (honest!)

If he queries tell him it's a private matter between you and the taxman and if pressed say it's private income from an inheritance. I don't encourage people to lie but sometimes it's the quickest way to calm things down. (Also gives you more time to think and if you think of a better option in the future. You can always apologise for lying, come clean and give the better option!)

I was once asked this by an employer (when I was around 22 years old). He came out with "You tax code reflects that you have other money. Is that right?" I just said "Yes" and did not elaborate. My fear was he'd drop my wage accordingly which is why I said so little. Also it was none of his business.

 

[dontknowitall]

unless its in your contract that you cant set up a rival business, as long as it is done properly your gaffer wont have a prob, you aren't using his van, stock, FGA and giving his existing clients your business card are you? if you are you should get the sack (sorry if you think that is harsh but thats my opinion as you are stealing from him) ...

I thoroughly agree with this - far too much of this type of thing goes on (not just in the construction industry).

 

[kirkgas]

It is none of his business as to what your tax code is (honest!)

i agree its none of his business but that wasnt the question, the OP asked whether his gaffer would know he was paying more tax, if self employed he wont pay tax till the end of the year, i think, so it wont crop up till then, however it will still come out as someone will tell him, but as i said done properly it wont be a problem

 

[Macca2009]

Cheers everyone for your thoughts on this. He wont ever know what I'm doing as a second job, the company isn't based near me so don't think that will matter. If he ever said anything about tax. I will just fob him off and say I do ebaying or summat.