Taking on another job.

[CiderMonkey]

I work full time but would like to take on another job where I would work on a self employed basis in the evenings.

How do iIgo about this. Do I need to tell my current employer and how do the taxes get sorted out. Any info or pointing me in the right direction of where to look for info would be great. thanks

[acw]

You'll get taxed at a higher rate because it's a second job.  As I don't know, and wouldn't ask, what your earnings are, I don't know what rate you'd be on. 

Check your current contract to see if you're allowed another job.  There shouldn't be any problem with you having a second job, I suppose they might bar people who operate heavy machinery from working another job because they don't want them to be tired at work etc.  Either way, might be helpful to mention it to your current boss. 

Do you mean doing agency work - so you still have the flexibility?

Hope this helps in some small way. 

[CiderMonkey]

i have checked with my current employer and this is fine with them as i will only be working perhaps a couple of hours on weeknights, when I choose.

My main problem is with being self employed. I never have been and the second job is on a self employed basis.

[acw]

Oh I see - so you're certain that you're going to be self-employed!?

I must confess I know nothing about tax in this case. 

http://www.hmrc.gov.uk/selfemployed/

That's the best I can offer - another copy a link job I'm afraid.

Apologies for the initial confusion.  Hope this second attempt helps.  :-)

[twiglet4frog]

i shouldnt really say this i suppose, but if it is self employed and u are only working a few hours a week, maybe 10 or less, why declare it? unless u are turning over a huge profit then i wouldnt, i mean if u are talking about 50 or 60 a week then people make that much at a car boot and they dont declare it. If however u intend to make a real go of this business and hopefully one day expand it so that u are working for yourself full time, or u still believe in paying tax on small incomes, then good luck and the above link should help out a lot, or the dept for work and pensions website might help as well, cant remember the link tho so google it

[acw]

http://www.dwp.gov.uk - I believe I know that one off by heart.  What a sad loser I really am!!  22 years old and I know the weblink for pensions! :-S

Ditto what T4F said, I honestly wouldn't declare unless I though that might have repurcussions in the future! :-)

[tricia66]

You would have to fill in a self-assessment tax form for the self-employed part and as long as you don't earn over �32,740 will have to pay lower rate tax.

Filling in the form is not as scary as it sounds!

It is up to you if you declare it but you have to be wary other people may report you and if the Inland Revenue find out it may cause you a lot of hassle.