can i become a sole trader and work full time?

[j2u]

hi i need to continue to work full time but also want to set up a business.can u tell me if i can do this or do u have to be self employed and not employed by anybody else to become a sole trader.?Thanks

 

[woods]

You are free to do what you please.
Lots of sole traders keep on the day job for a while until they feel that they have found their sea legs.

 

[j2u]

yes thank u,
i thought i read fom another post that u had to be self emplyed to be a sole trader.but i would`nt be if im employed full time.i must have been mistaken
Thanks

 

[Domo]

If you are a sole trader you will be self employed for that. However, you can be an employee and a sole trader at the same time.

 

[ang1170]

Note that some employment contracts will preclude you from doing this, either directly (explicitely saying you can't do it) or indirectly (e.g. saying that anything you invent whilst working for your employer belongs to that employer).

 

[Purple]

Note that some employment contracts will preclude you from doing this, either directly (explicitely saying you can't do it) or indirectly (e.g. saying that anything you invent whilst working for your employer belongs to that employer).

This is very hard to enforce. If you work as a clerk in a patent office and come up with a theory of relativity they will find it hard to show that one influenced the other.

 

[ang1170]

Indeed.

I only mentioned it as it could be a complication. I'd imagine there'd also be problems if the new business was operating in competition to your current employer too.

The point I was trying to make was that while there's no legal or tax restriction on doing what the OP asks, there might be other restrictions that might need to be checked out first.

Last thing a new business needs is a legal battle on its hands....