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In a 9-5 role and want to freelance too
I'm currently working as a Graphic Designer 9-5 Mon to fri. I've been picking up a number of design jobs recently and crazy I know, I'm looking at going freelance as the same time.
They are a small firm and my contract says nothing about me not freelancing, poaching etc.
1) Is it registering for VAT I need to do or registering as self employed, or something else tax related?
2) How do I trade, with just my name? I really know nothing about this
2) Will my company know that I'm freelancing? We have no HR dept and I doubt that anything would be in confidence.
3) When I do my tax returns or whatever (god I know nothing) do I need to detail all goings on in my bank account or just whats come in
4) Is it best to set up another bank account for incoming payments and will a standard current account do?
5) any good books or guides to help me learn the terms (apart from here of course) Part of me thinks is it really worth all the hassle
THanks
steve
They are a small firm and my contract says nothing about me not freelancing, poaching etc.
1) Is it registering for VAT I need to do or registering as self employed, or something else tax related?
2) How do I trade, with just my name? I really know nothing about this
2) Will my company know that I'm freelancing? We have no HR dept and I doubt that anything would be in confidence.
3) When I do my tax returns or whatever (god I know nothing) do I need to detail all goings on in my bank account or just whats come in
4) Is it best to set up another bank account for incoming payments and will a standard current account do?
5) any good books or guides to help me learn the terms (apart from here of course) Part of me thinks is it really worth all the hassle
THanks
steve
- Contact in PM
dorsetdubber
Messages count : 2Likes count : 0Registration : 24 June 2008Be careful
Hi mate
Be very careful how you play it, almost all companies will consider it to be a conflict on interest and if found out you will almost without doubt be sent packing.
I know of at least 3 people who have done exactly that and were sent on their merry way.
Im in the process of setting up my own agency along with 2 other guys ive worked with in the past, both of whom are employed, one of the employers found out about the greater plan and as a result he was given his marching orders.
My advice would be, decide which side of the fence you want to be on a go with it, but remember its really tough out there at the mo and people are cutting back left, right and centre.
Cheers and good luck
Paul - Contact in PM
stevieh59
Messages count : 2Likes count : 0Registration : 27 June 2008Any ideas if they can find out through tax codes etc?
