Anyone work PT for a company then freelance the other days for themselbes?

[Overseasmom100]

So working 3 days a week hours cut. Wont let me work anymore which I get.

The other 2 days I want to do some freelance work so questions are:

Do I have to tell my employee?
Who do I need to tell e.g. the tax office...who else?

Anyone

You need to register as self employed.

Depends what your employment contract says.

LOTS of people do it.

A colleague of mine does this. The employer knows, I think you do need to tell them it would say in your contract.
I think you'd need to do a self assessment tax return annually.
I don't know much more, hoping to bump this for you.

I need permission from my employer to have a second job. A request has never been declined.

I wouldn't sign a part time employment contract that wouldn't allow me to work anywhere else, that's not something that happens is it?

Nowadays people have all different kinds of work patterns, this seems totally normal to me as long as you are paying all the tax you owe this seems perfectly fine to me

I used to do this - I told my employer when they offered me the job role, but I had been working for them as a consultant before hand so it was slightly different. I’ve always had my own self employed business though and no one’s objected. The only issue I could see is if it brings about a conflict of interest or if you could potentially steal clients from your employer?

I do
I work 25 hours a week for an employer and then do some Freelance as well. I was freelance via my own ltd co for years but my 2 biggest contracts went due to Covid and then I was offered a brilliant opportunity so I took it
My freelance work is a bit erratic but I usually get 3/4 “days” a month that can be done anytime so I do it evenings or weekends. If I needed to I could fit my hours for my proper job into 4 days. My employer doesn’t know about my other work, there’s nothing in my contract to say I can’t and there’s no conflict of interest so I don’t consider it any of their business. I might go FT some point with my main job but I like things the way they are now.

I wouldn't sign a part time employment contract that wouldn't allow me to work anywhere else, that's not something that happens is it?
Many professional firms will have limits on where else you work

eg accountants not running a "homer" business in competition with the employer.

Need to find my contract although its really old and the agreement I have isnt what I do now.
@Hoppinggreen are you registered as self employed do you have an accountant do your accounts

Hiya, I work like this.

You'll need to register as self employed and do a tax return for every tax year (April - April) which has to be completed and paid by the following a January.

I do my own accounts for my self employed income as it's fairly simple.
When you come to do your SE tax return, you fill in your employment details and it will automatically pull through the details of tax and NI you've paid In your part time employment.

You'll probably use your whole tax-free allowance on your PAYE job so you'll need to pay tax on your freelance earnings. You'll need to put aside 20% of your taxable profits (income minus any valid expenditure) plus about another 8% for NI - these figures might be different from you depending on how much you are earning and whether any of it is in a higher tax bracket.

Forgive me if any of this is stuff you already know but some of this tends to come as a surprise to people when they have to do their tax return at the end of their first year trading.

@Overseasmom100

Need to find my contract although its really old and the agreement I have isnt what I do now. *@Hoppinggreen* are you registered as self employed do you have an accountant do your accounts

Yes, I set up my ltd co about 10 years ago and my Accountant does everything for me

I do this, part time work and freelance - my DH is an accountant and does my taxes otherwise I’d pay someone because they’re good at knowing what you can and can’t claim as business expenses which ensures you’re not paying too much in tax.

My husband was CEO, now works three days on same terms (his choice) as step down towards retirement.

He has several other income streams from other work. As long as there’s nothing in your contract and no direct conflict it’s fine. You don’t need to register except through payment of appropriate taxes. It’s complicated with PAYE and self employed so an accountant is useful.

He also takes other payments through one of our limited companies which makes it easier in terms of offsetting expenses and reducing costs.

He’s actually struggling to fit it all in as far more juggling of commitments and he doesn’t have his own PA anymore.

@Jellycatspyjamas

I do this, part time work and freelance - my DH is an accountant and does my taxes otherwise I’d pay someone because they’re good at knowing what you can and can’t claim as business expenses which ensures you’re not paying too much in tax.

A good Accountant should pay for themselves as a minimum Mine costs about £1000 per year and saves me double or triple that

I work pt employed (3 days a week) and freelance 2 days a week. I also have investments which generate an income so technically I have three sources of income. No Ltd companies though and I do my tax return myself.

A good Accountant should pay for themselves as a minimum
Mine costs about £1000 per year and saves me double or triple that

Absolutely, I’m always surprised at how much my DH can save me - very worthwhile paying for a good accountant.

What do you mean by saves you money??

Overseas
A good accountant understands allowances and expenses
and timing and income streams
so the chances are that they will reduce your tax bill by more than their fee
AND
save you from fines and penalties

I do this, it's brilliant.

Am registered as self-employed and have an accountant. It saves masses and I mean masses of money.

My car, mobile phone, internet, landline, computer purchases, loads of other stuff all suddenly became business expenses and can be expensed against tax. I use an app for receipts - if I buy lunch, pay for a parking space I use to have to just pay for those and now they are business expenses.

I pay into a pension as well - that was the icing on the cake and I ended up with a tax refund.

My PAYE job makes sure I've paid NI, it's the best of both worlds.