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2nd Job-It's complicated!

  • Fellow
  • 28 posts
  • # 117417

Hello all

I have been prseented with the following scenariio, any advice appreciated.

A friend of mine works for a company as their accounts Manager. Lets call this Company 1. Company 1 pay their salary.

They also do the accounts for another company which trade from the same premises. Lets call this Company 2. 

Company 2 have now offered this person a directorship with a small monthly salary. 

This is in addition to the salary received from Company 1.

The individual has also been offered a directorship of Company 1 but with no increase in salary.

My questions are

1. The individual will become an employee of Company 2 so any salary will be taxed at Basic Rate as this is a second job?

2. Are there any NI implications. The salary is below the monthly threhold but the 2 companies have a common director.

3. Is there anything else they need to be awaye of?

Any advice gratefully received.

Thanks

John

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