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I may be in breach of employment contract. Watch

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    Under the "Obligations" section in my employment contract is this expectation:

    " - Devote the whole of your time and attention during business hours to your duties as an employee. You will not at any time, without the written consent of your manager be directly engaged, concerned or connected with any other company, business or concern (except as the holder of shares, stock, debenture or debenture stock in any other company quoted or dealt on any recognised stock exchange)"

    Now the first sentence is fine, but the second one may be an issue. A couple of months ago I invested a small amount (three figures just) through an equity crowdfunding platform into a business (not in any way connected to the business of my employer either directly or indirectly). In retrospect, it seems I should have had permission from my manager to do this based on this clause.

    Question: should come clean and sort this out or just leave it? I'm inclined to bat it out, take the slap on the wrist and get on with it, but don't want to jeopardise anything should this be taken a lot more seriously than it ought to be by my employer.

    It's likely that I will make other such small investments, and in light of dusting off my contract will make a point of covering it off with my manager if this changes the waters any.


    ....cheers for any input/advice.
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    Sounds like you did breach company policy but in situations like this, it's probably best not to come clean because as you said it could be taken very seriously. But as for future investments, probably not the best idea.
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    (Original post by George Agdgdgwngo)
    Under the "Obligations" section in my employment contract is this expectation:

    " - Devote the whole of your time and attention during business hours to your duties as an employee. You will not at any time, without the written consent of your manager be directly engaged, concerned or connected with any other company, business or concern (except as the holder of shares, stock, debenture or debenture stock in any other company quoted or dealt on any recognised stock exchange)"

    Now the first sentence is fine, but the second one may be an issue. A couple of months ago I invested a small amount (three figures just) through an equity crowdfunding platform into a business (not in any way connected to the business of my employer either directly or indirectly). In retrospect, it seems I should have had permission from my manager to do this based on this clause.

    Question: should come clean and sort this out or just leave it? I'm inclined to bat it out, take the slap on the wrist and get on with it, but don't want to jeopardise anything should this be taken a lot more seriously than it ought to be by my employer.

    It's likely that I will make other such small investments, and in light of dusting off my contract will make a point of covering it off with my manager if this changes the waters any.


    ....cheers for any input/advice.
    If your manager can sanction it I wouldnt worry.
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    Looks unenforceable. They cannot dictate what you can/cannot do outside of working hours.
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    As long as you aren't doing it within working hours yo shouldn't worry. Also how on earth would your manager ever find out about an investment you made in private?
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    It's fine.

    You aren't a significant investor in the other business.
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    (Original post by Reue)
    Looks unenforceable. They cannot dictate what you can/cannot do outside of working hours.
    In certain circumstances they can still fire you for instance if it creates a conflict of interest or has a direct impact on them.
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    (Original post by doodle_333)
    As long as you aren't doing it within working hours yo shouldn't worry. Also how on earth would your manager ever find out about an investment you made in private?
    I can get 30% back through an EIS tax relief system because it's a young company. So my tax profile may change and it could be flagged that way I guess.


    Thanks all for the input in any case.
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    (Original post by George Agdgdgwngo)
    I can get 30% back through an EIS tax relief system because it's a young company. So my tax profile may change and it could be flagged that way I guess.


    Thanks all for the input in any case.
    With a 3 figure investment?

    And tax codes can change for all sorts of reasons.

    You are a tiny investor in an arms-length company. It is not a material investment.

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