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Being a Director of your company while employed at another

  • 09-05-2010 8:59pm
    #1
    timmy_mallet
    Closed Accounts Posts: 1,165 ✭✭✭


    Hi,

    Just wondering is it legally possible to be the director (and main employee) of your own company, of which most of the work can be done in the evening time, while still being employed at another company?

    Cheers,
    TM


Comments

  • #2
    Mr. Presentable
    Closed Accounts Posts: 9,496 ✭✭✭Mr. Presentable


    It's not a problem. So long as you declare any conflict of interest to your employer.


  • #3
    timmy_mallet
    Closed Accounts Posts: 1,165 ✭✭✭timmy_mallet


    nipplenuts wrote: »
    It's not a problem. So long as you declare any conflict of interest to your employer.


    Ahh ok, thanks for the advice.


  • #4
    infamous
    Closed Accounts Posts: 100 ✭✭infamous


    what conflict of interest nipplenuts???????? surely what he does in his time off needs no explanation to his employer


  • #5
    Eoin
    Registered Users, Registered Users 2 Posts: 21,263 ✭✭✭✭Eoin


    infamous wrote: »
    what conflict of interest nipplenuts???????? surely what he does in his time off needs no explanation to his employer

    Two reasons I can think of off the top of my head:

    1) There might be a conflict of interest if the part time work provides a rival service to the one his employer provides.

    2) There might be HR issues about the number of hours worked per week. I've heard of people who have been told they can't work in the spare time as it would add up to too many hours worked per week.


  • #6
    nadir
    Registered Users, Registered Users 2 Posts: 1,419 ✭✭✭nadir


    I was wondering what if you have a clause in your contract that stipulates you can't work for any other company during employment?
    I've read that in California for example such clauses are illegitimate but how would that go down here?


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  • #7
    getz
    Registered Users, Registered Users 2 Posts: 5,255 ✭✭✭getz


    i think half of the british members of parliament are advisory directors of one company or another,and i am sure its the same in ireland


  • #8
    gfitz
    Closed Accounts Posts: 7 ✭gfitz


    eoin wrote: »
    Two reasons I can think of off the top of my head:

    1) There might be a conflict of interest if the part time work provides a rival service to the one his employer provides.

    2) There might be HR issues about the number of hours worked per week. I've heard of people who have been told they can't work in the spare time as it would add up to too many hours worked per week.

    There is also the problem of PAYE and PRSI. As the Director of a company, you fall into a different Tax bracket than an ordinary, straight forward employee. Even if your company is turning over ZERO funds, Revenue don't care, you're a director and that's it. Your employer then needs to know that your tax classification has changed so that they are not paying the wrong tax for you and end up with a bill at the end of the year. So, you have to tell your employer either way and they may not like you working all hours at night building your own little empire and turning up to work for them half asleep!!


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