Hi guys, I'm newly qualified locum and have a few questions that you might be able to help me with?
Does anyone else manage to get petrol money from Boots as a locum? I've been accepting placements around the county, but the PDA said they don't pay petrol for locums, but the PDA is new in her job so I don't necessarily believe this to be the correct answer. Also Sainsbury's pay me petrol money for longer distances.
Tax: so I've registered myself as self-employed. I'm going to start a PhD next week, so I'm not going to earning huge amounts, so won't be using an accountant- is doing self-assesment fairly straight forward? Also I've heard you can offset RPSGB fees and the cost of running your car against tax, but do you need receipts for this? The RPSGB don't actually give you a receipt?!
Ask RPSGB for a receipt or just keep a copy of the demand and a reference to how and when you paid. Keep ALL receipts. BTC do pay mileage but only from base shop to others if you are an employee. They have a standard expense claim form. You must keep your locum accts separate from your personal acct. Open a bldng socty acct.
johnep
It would only be a problem if Revenue decided to audit you, as they would require proof of earnings, to compare to your tax return. If your locum earnings are deposited to the same account as any other income, they will expect you (or your accountant) to sort it out.
Withdrawals for business purposes, which generate your tax relief would also be mixed up with your weekly shopping expenditure! If you self-assess, filling in the form is much easier if you don't have to untangle a yearsworth of jumbled-up transactions.
As Johnep advised, open a Building Soc. a/c with the best interest rate you can find, and request a cheque book and debit card. All business transactions should then be assigned to this a/c.
This way, in the event of audit, your statements will provide all the proof you need, and if you choose to engage an accountant, which I think you probably should, their fee will be greatly reduced!
Best of luck..
Fleeg.
Last edited by Fleegle; 16th, September 2008 at 08:38 PM.
I work as a manager for the company and they pay 40p a mile, but you have to agree it when they book you. If You relief with them (have a contract but no regular store) then mileage is from base store or home which ever is closer.
BTC does pay locums mileage at a lower max rate of 28p. You'd need to fill in a form of some sort. Ask the manager at the store you locum-ed at. PDA may not necessarily know what he/she is doing as many are new at their post.
Drive 50 miles to work, then 50 miles back home..result?..£29 (taxable).
Hardly a perk..is it worth fighting for?.. Retain all your fuel receipts and claim your business mileage against tax with your year-end return, along with any other motor expenses (assume it will be a self-employed percentage of total outlay).. I think you'll be pleasantly surprised.
You can get a receipt from the RPSGB, they say they never post and that you have to print it instead. You need to log into your account with the RPSGB and find it there.
You can claim quite a bit more than just mileage expenses. Note that the mileage includes ALL RUNNING COSTS of the car, you cannot claim mileage AND separate running expenses - its one or the other.
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