PAYE Employee AND Self Employed?

[qazmko]

Having recently been sacked, I need a job..

I have an offer of something part time - which is welcome as I have bills to pay/life to live.

Question is -

Being employed as PAYE with them - can I also be self-employed to work freelance or ad-hoc elsewhere? I have a few other options here and there to earn.. At least the part time job would be the constant

I assume I can be. Important thing would be to correctly report income on self-assessment tax forms I guess.

Is that right?

[charitynjw]

Re: PAYE Employee AND Self Employed?

Having recently been sacked, I need a job..

I have an offer of something part time - which is welcome as I have bills to pay/life to live.

Question is -

Being employed as PAYE with them - can I also be self-employed to work freelance or ad-hoc elsewhere? I have a few other options here and there to earn.. At least the part time job would be the constant

I assume I can be. Important thing would be to correctly report income on self-assessment tax forms I guess.

Is that right?

Imho it would depend on the terms within your contract of employment.

Many firms explicitly state that you cannot work elsewhere, especially in the same line of work. (for fairly obvious reasons).

[qazmko]

Re: PAYE Employee AND Self Employed?

Imho it would depend on the terms within your contract of employment.

Many firms explicitly state that you cannot work elsewhere, especially in the same line of work. (for fairly obvious reasons).

I realised after I put that post up that I didn't put a great deal of detail in it..

I should have said aside from the contract limitations you mention. From the talks I've had so far I think this won't be too big an issue which is possibly why I (even subconsciously) didn't mention in my post

[charitynjw]

Re: PAYE Employee AND Self Employed?

A contract of employment doesn't have to be unilateral - get them to include a clause re this.

[qazmko]

Re: PAYE Employee AND Self Employed?

In talking, some friends have said that I should set up a Ltd company to invoice the freelance/ad-hoc work I do - though I can remain as self-employed and bill the Ltd company. (I could bill some as Ltd and some as self-employed me direct)

Theory being I could end up with more money in my pocket after taxes.

I don't know enough about this so have some reading/calculations to do..

First + most important question though:

Is it legit?

[wales01man]

Re: PAYE Employee AND Self Employed?

Speak to an accountant they are the best ones to advise on this

[ostell]

Re: PAYE Employee AND Self Employed?

You have a ltd company with you as the director and only shareholder. The company employs you and you perform work for the customers. The company pays you a nominal wage and can from time to time pay dividends to the shareholders (you). No NI to pay on that and company pays the tax to a certain extent.

Your PAYE employer might be willing to employ your company and pay on invoice.

[charitynjw]

Re: PAYE Employee AND Self Employed?

Would that not count as 'working for someone else'? (a Ltd company is likened to a 'person' in law?)