Keep Ltd going alongside a permie role?

[Funkywood]

Has anyone with a Ltd Co gone down the route of permiedom while keeping their Ltd running alongside, quite possibly continuing to get paid as boss for tax purposes? What do you tell the permie client (if anything) and did it cause issues?

I have other trickles of income into the Ltd that will continue so can't just shut it down.

[expat]

Has anyone with a Ltd Co gone down the route of permiedom while keeping their Ltd running alongside, quite possibly continuing to get paid as boss for tax purposes? What do you tell the permie client (if anything) and did it cause issues?

I have other trickles of income into the Ltd that will continue so can't just shut it down.

So why consider shutting it down? Being a shareholder and director in one company are not inconsistent with having a salaried job with another company.

If you tell the other company that you have another employment, they may feel obliged to say that you can't. But if they don't ask and you don't tell, and your company is not competing with theirs, I see no problem.

[SueEllen]

Has anyone with a Ltd Co gone down the route of permiedom while keeping their Ltd running alongside, quite possibly continuing to get paid as boss for tax purposes? What do you tell the permie client (if anything) and did it cause issues?

I have other trickles of income into the Ltd that will continue so can't just shut it down.

Firstly there is no law stating that you need to pay yourself anything from your company at all as a director. Though you should talk to your accountant about tax efficient ways of getting money out of the company.

Secondly it depends what you do.

I've met people who have been permanent employees and run a company/self-employed business along side their main role. So the situation isn't as uncommon as you think.

You either have to be open and say that you have another job particularly if it has absolutely nothing to do with the job role you are doing, or keep your mouth shut. Most of the people I've met who are open tend to be the ones whose side business has absolutely nothing to do with their main employment even if it's in IT.

Issues tend to arise if:
1. You keep answering the phone or are seen doing bits of your other business at the permie employers place.

2. They are the sort of permie employer who expect you to kill yourself for them and you can't because you are working on your own business.

3. They have an employment contract with very restrictive clauses in them stating you can't work on the side and also very restrictive about who you can work for after you leave. Then it's up to you to negotiate to get them removed.

[mrdonuts]

Absolutely

if the tulip hits the fan at permie scum corp, then you still have the ltd which you were working for no need for any references from scum corp

[JoJoGabor]

Yeap, I have. One of the questions on the screening was "Are you a director of a limited company". I just put yes, as I was in the process of closing this down, which was a lie, nothing came of it. Just getting some new skills and biding my time and to get a new mortgage approved, then I'll be oot

[Kess]

Absolutely

if the tulip hits the fan at permie scum corp, then you still have the ltd which you were working for no need for any references from scum corp

I totally agree. I went permie 6 months ago (with a big pretentious IT consultancy) and closed down my company. Now thinking of going contracting again...

Keep your company going, even if it's dormant, in parallel with the permie job until you're absolutely certain you won't need it again.

[Funkywood]

I thought it as pretty common. I just wanted to know how much some permie corps would complain about it.

I'm not going to be onthe phone on their hours so I'll probably just not mention it unless they ask and then just say it's a stream in income that takes care of itself (which it mostly is).

Thanks for the responses.