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Chase
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Joined: February 5th, 2014, 3:44 am

Combining a full time job with a part time one

December 2nd, 2015, 12:35 pm

I work full-time at a small early stage trading company (not FCA regulated yet). I was approached by another organisation (different asset class and investment horison) to do part-time work for them. Would my current employer be informed by HMRC that I am in receipt of additional income?
 
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Hansi
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Combining a full time job with a part time one

December 2nd, 2015, 5:37 pm

Don't know about the tax reporting implications but surely it's a breach of your employee contract and not to speak of the ethical side of things.
 
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Cuchulainn
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Combining a full time job with a part time one

December 2nd, 2015, 7:03 pm

QuoteOriginally posted by: HansiDon't know about the tax reporting implications but surely it's a breach of your employee contract and not to speak of the ethical side of things.aka moonlighting. You come into the office next morning knackered?Usually, there is a clause in contract stating no working for competitors?? If's that is OP case, why is OP asking here?
Last edited by Cuchulainn on December 1st, 2015, 11:00 pm, edited 1 time in total.
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bearish
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Combining a full time job with a part time one

December 3rd, 2015, 3:32 am

Would my wife be informed by my bank that I have credit card charges for hotel stays with my girlfriend? As pointed out by Hansi and Cuch, the way you ask the question suggests that you know you are thinking about doing something you shouldn't be doing. If this is really not competing and it is really in your spare time, just ask your boss whether it is OK. He may surprise you and say yes. If you were planning to spend some weekend time to help out a friend to launch his Raspberry Pi educational product suite in exchange for a free lunch and some stock options, you would probably just do it and maybe mention it in passing to your firm (my firm would have a long and painful compliance process, but they would sign off on it in the end -- this one, definitely not).
 
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katastrofa
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Combining a full time job with a part time one

December 6th, 2015, 4:52 pm

HMRC is not allowed to inform anyone about your unrelated sources of income. However, if your tax bracket changes, HMRC may have to notify them about changes to your tax code.