Hi,
I am currently looking for a new job but I'm also a partner in a company. Our business is not in competition with the type of company I am applying for jobs with. Is it best practice to keep quiet about this?
I realise that different employers will have different clauses in their contracts but how could they actually find out? I assume they probably could if my tax code changes.
The jobs I am going for are in the 30k region. I would only need to earn £4601 more before I have to pay the 40% bracket.
I realise an accountant is the best person to ask about this but some general guidance or hearing of similar situations would be greatly appreciated.
Thanks, Bob
2007-11-05 10:32:23 · 6 answers · asked by Bob S 2 in Business & Finance ➔ Small Business
if they dont ask dont tell!
2007-11-05 10:37:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋
actually the best person is a business lawyer. it is a legal Q. i would tell the prospective employer that you are a "silent partner" in a business endeavor , as an investor, stressing investor. tell them they will not see any personal days off more than what is allowed. you are only telling them because word does get around as everyone knows. any time off would ofcourse occur with the required advance notice. if you honestly can't live up to this then you need to reconsider and possibly take a evening job until you can go full time with this new endeavor of yours. you really don't need to waste money on the advise of an attorney. good luck, i've been in the same boat.
2007-11-05 18:40:14 · answer #2 · answered by 27ysq 4 · 0⤊ 0⤋
It is not necessary or relevant for your employer to know about your other business interest, unless it is written in your contract of employment. I can only assume that on your business front you are self-employed , which means when you are doing your return at the end of each year you have to declare your income, but not the ones which you have already paid Tax & NI for. I suggest that you keep the two as separate items.
2007-11-06 02:30:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It seems to me that the prospective employer has the right to know if you are devoting time to the interests of another company. Even if your company doesn't compete, it is likely to compete for your time. I am no lawyer, but I believe you are ethically bound to disclose that information. Better to clear the air in the beginning than be accused of withholding this information later as you try to juggle your prorities.
2007-11-05 18:49:25 · answer #4 · answered by loveourcountry 2 · 0⤊ 0⤋
Depends on the job, some job will require you to disclose....because they dont want you preoccupied with other things. I always think that it is good to disclose, because if anything, they should know that you need the second job to secure a certain lifestyle. Otherwise, they should pay you more.
2007-11-05 18:46:55 · answer #5 · answered by Sulaiman A 2 · 0⤊ 0⤋
yes you should mainly for tax reasons for a start, they may not want to employ you if you have your own business as well. better to be honest and up front or they may just have a reason to dismiss on failing to disclose that information.
good luck
2007-11-06 16:08:59 · answer #6 · answered by Greybeard 3 · 0⤊ 0⤋