Full-time Employee -Opp for additional p/t work

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I am a full-time employee but the opportunity has arose for some part-time work in a field that I am comfortable with and could do at home. I have yet to discuss the finer details for the second employer but I gather they are happy for me to incorporate the work into my life as suits me. We also havent discussed money yet. I need to speak to my current f/t employer but I understand there will be no objections on that front either.

I appreciate there will be time-management issues for me but what are the pro's/cons of taking on a second job on top of my current role? I guess 50% of my earnings will be lost on tax so the income would have to be substantial enough to be worth my time. What else do I need to think about?
 
Will you be working the p/t job as an employee?
Do you already reach the standard rate cut off point in your current employment? If not, you can split your standard rate cut off point between the two employments, so you may pay some tax at the lower rate in the p/t job.
 
Have you looked into whether the Working Time Act prohibits this?
You cannot work more than 48 hours a week, averaged over 3 or 6 months.
Crazy I know but that's the law.
 
Yes I do reach the standard rate in my current job. I will be paying the higher rate on any earnings. Purple, I will fall within the confines of the Working Time Act as I only plan on doing about 6 hours a week. I think I'll give it a go and see how it works out. The extra cash would be helpful before we move house.
 
Yes I do reach the standard rate in my current job. I will be paying the higher rate on any earnings. Purple, I will fall within the confines of the Working Time Act as I only plan on doing about 6 hours a week. I think I'll give it a go and see how it works out. The extra cash would be helpful before we move house.
I don't mean to sound condescending or anything but you have a great attitude. If only more people were willing to work harder and/or longer in order to get money income instead of moaning and looking for pay increases without increasing their output or value then this country would be a better place.
 
Thank you purple. We made a financial mistake buying a very overpriced house a few years back and will pay for it for the rest of our lives (without being too dramatic!). I am delighted for any opportunity for further work to allow us try and recoup some of our losses. Appreciate the comment though.
 
So it looks like taking this second job is now a reality. I have to tender for for my time as a consultant and before I do that I want to consider how much tax I am likely to pay. I know I will be taxed at the higher rate but can I write off things like electricity, computers etc?
 
Yeah, generally claim about 1/6th and it won't be looked at. Full price of computer, printer etc. 1/2 car tax etc. I claimed for blinds for my spare room (with the desk); my accountant advised me not to claim for LPT or mortgage as it gives claim to property. That said I claimed for him! Most Local Enterprise Boards will - for a fiver - give you advice.
 
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