Quote:
Originally Posted by Jeff  Very short term calculation. Not enough for forward planning.
Tax rate changes in April 10% band goes and 22% is reduced to 20%
Expect downward pressure on locum rates - as the reduction in the number of potential employers continues to bite.
Decide what you want from pharmacy as a career.
Management/ownership offers the opportunity to expand your horizons as your relationship with local prescribers develops.
Invest any spare cash.
30 years down the line - playing at pharmacy forms only a minor part of my cash flow. (I avoided the term income because much of the "cash flow" isn't considered income by the tax man) - I use pharmacy and my self employed status as a means of claiming tax deductions. On paper pharmacy isn't really profitable - ie tax is minimal.
Jeff |
How about doing an FAQ to share this information. I'd love to be able to limit my taxable income.