PAYE + Limited Company

[mgc]

My wife and I are PAYE and work for two differant companies.I do a nixer in the evenings that is different from my full time job.Can I set up a Limited Company to do these nixers with the hope of doing them on a full time basis and still be a PAYE employee with my present company until I make the move.Thank you.

 

[capall]

You can be a Paye employee of as many companies as you like

 

[ubiquitous]

Using a limited company as a vehicle for a nixer business sounds like a gross overkill, unless of course it is a very lucrative nixer. You should not set up a limited company unless you are 100% sure that you actually need one.

 

[BrenG]

You may be better off holding back on the limited co formation for the moment. Your nixer income and related expenses can be segregated from your PAYE income for tax purposes for the moment. I advise getting advice from an accountant before making the decision to set up a company as there are many obligations which may not suit your own circumstances.

 

[mgc]

Thank you