Tax and NI query

sal

Full Registered User
I have started up a security company and set myself up as director. I am also working full time for a company. my question is must i tell my employer this and how will it effect my taxes and NI now that I have full time job and directorship of my own company even though it is not operational and trading as yet.

Advice much appreciated in advance.
 
Direct answer is 'No', you do not have to tell your employer, what I would say though is if you are not fully conversant with what you can and cannot do, even if only 'til you get to grips with it....get an accountant, especially as you have another job you are better off paying them to educate you. Go for one who will give business advice as well as sort your basics, but then get a second opinion on their advice to make sure you are not being seen off, just until you are confident with contributions, entitlements, where you can save money etc.
 
sal,

aj11 has given you some good advice, the only things i would advise you to check are

a) will your employer see you / your company as a direct threat to their contracts (conflict of interest) ?

b) when you took the job and signed a contract was there a disclosure section asking about any other jobs ?

best of luck

premier
 
Thank you for reply. my employer is not in the same business so will not see as threat. And i can't remember anything in disclosure section either.
But will i pay more tax and NI because I am trying to run a business alongside it and will my employer find it out from my tax info that I am director of a company.
 
hey sal

like AJ has said they are 2 questions for an accountant mate as most of us on here are selfemployed and dont really know the ins and outs
try annac.whittaker.co she is a member on CPW she may help you out mate

hope it all goes well ed
 
But will i pay more tax and NI because I am trying to run a business alongside it and will my employer find it out from my tax info that I am director of a company.

As others have said you need advice from an accountant. You may not need them after that but it is better to get things right from the start. I am employed and self employed (not LTD). My boss does not know of my other work and my tax and NI payments with them have stayed the same. There is no reason for them to change.
 
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