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I am in employment but provide services to the public
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Hello, I am in full time employment but also make a few pounds on the side providing legimate services, however not enough to quit work. is it possible for me to set up a company whilst in full time employment, and if so is it best to be a sole trader or become ltd
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For more on marking an answer as the "Best Answer", please visit our FAQ.Yes it is possible, I worked as a driver for the local council and then started my own Ice cream van bussiness which I worked on weekends and after work. The first year I made a loss but found out I could claim some of my tax I paid in the council job employment as I had made a loss in the Ice Cream Van bussiness.
Yes you can have employment and self employment. Inform the Inland Revenue you are going self employed so they can send you the Tax Return to report your earnings / losses. You will need to record your business income and employment income on the tax form.
I'd start off as a sole trader and if your business grows, seek advice about becoming a Ltd Company. I can not foresee any great benefits in become Ltd with part time earnings.
I'd start off as a sole trader and if your business grows, seek advice about becoming a Ltd Company. I can not foresee any great benefits in become Ltd with part time earnings.
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