Accountants for locum doctors, nurses and vets
Helping hundreds of locums
across the UK
Practising medicine is like running a business! Whether it’s accounting from a variety of income sources such as hospital PAYE work, private patients to Partnership arrangements we offer friendly, clear, and straightforward advice to help you minimise your tax.
- Packages from £89 per month
- Trading as Ltd Co. or as a Sole Trader
- Award-winning software
- Unlimited tax planning & advice
- Maximising profitability
Helping Doctors and other Medical
Professionals to manage their finances
Working as a locum can give you greater flexibility and a varied workload, carrying out many different types of work and being paid in a variety of different ways.
The main issue we advise on is establishing your employment status, as this determines your employment rights and financial obligations in terms of NI contributions, tax, and benefits, as well as your relationship with HMRC, which is where we can assist.
The locum doctors, nurses, and veterinary practices we have the pleasure of working with:
- Complete salaried single appointments or work in general practice.
- Work as a Consultant providing cover outside their NHS contracted work.
- Provide short-term contracts and flexible hospital contracts.
- Complete out-of-hours work or other private work.
- Cover illness, maternity leave or sabbaticals.
Choosing the best specialist
accountant for locums
Fusion Accountants assist medical professionals in the UK health sector with financial management and advise whether to work as a limited company or sole trader. LOCUM work is often best done through a limited company, which can provide numerous tax benefits to your overall income. We can help you set up a limited company at any stage of the process, from tax returns to national insurance.
Why is it better to work through
a Limited Company?
As a locum doctor, nurse, or another medical professional working through your own limited company, you can balance how much you pay yourself through a salary and dividends to minimise the number of national insurance contributions you need to pay, maximising your money get to keep. You can also claim some expenses when working as a limited company, lowering the tax you need to pay.
Locums have greater protection when working
through a Limited Company
Limited companies are considered separate from their owners. This means that if your limited company goes bankrupt, you won't lose your property, cash, or other assets, so you are protected from any negative consequences. You can also apply for loans in the company's name, avoiding debt if things go wrong.
We will work together with you to make sure everything runs smoothly. Fusion specialises in assisting contracting professionals and has extensive experience providing accounting services to healthcare workers. You can rely on us to provide the accounting support you need to improve your financials and free up some time for yourself.
Charging VAT as a Locum doctor
Most locum doctors will not need to charge VAT for their services. However, this does depend on your contract because if you are a Locum Doctor working for a hospital dealing directly with patients, you will not charge VAT for your services, meaning your income is entirely yours. On the other hand, if you have an HR, Office, or Managerial position where you are not dealing with patients face-to-face, you will need to charge the standard VAT rate for your service.
As specialist Medical & Veterinary accountants in London, we will be able to provide you with the answers you require regarding your VAT status or the formation of a limited company.