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Starting out as a locum

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  • Starting out as a locum

    I'm just starting out as a locum and though I'm finding work I'm a little lost.

    1 - Do I need to be VAT registered?

    2 - What about setting up a business? Is it worth it financially?

    3 - Managing my finances - can anyone recommend a good financial package that I can use to manage my tax, etc. preferably free
    (A lot of the packages I have seen are overcomplicated as they are aimed at businesses with multiple employees and goods/materials to move, etc.)

  • #2
    Re: Starting out as a locum

    Originally posted by Malkovich View Post
    I'm just starting out as a locum and though I'm finding work I'm a little lost.

    1 - Do I need to be VAT registered?
    No

    2 - What about setting up a business? Is it worth it financially?
    Some say it's useful to form a ltd co - I've never bothered.

    3 - Managing my finances - can anyone recommend a good financial package that I can use to manage my tax, etc. preferably free
    Any spreadsheet - list all income, list all expenses and hand it to an accountant along with the receipts.

    Jeff

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    • #3
      Re: Starting out as a locum

      Yep..that's pretty much it!

      Just one point..If, and only if, you find yourself earning more than the current yearly threshold for VAT registration, I feel you should register..it will act to your advantage in the longrun.

      Re. Ltd. Company..totally agree with Jeff..checked it out, and didn't see any real advantage.

      Re. spreadsheet...download "open office" FREE by googling it..gives most Microsoft Office options (except outlook) including excel, word, and powerpoint clones. If you email your invoices etc. using this suite of programs, they will easily open for anyone using Microsoft Office, as they are compatible.

      Welcome to the club!

      Fleeg.
      Last edited by Fleegle; 2, September 2008, 08:48 PM.
      Don't Stop Believing

      http://youtube.com/watch?v=rnT7nYbCSvM

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      • #4
        Re: Starting out as a locum

        Setting up as a company can be financially advantageous depending on your circumstances, e.g how much your earnings will be, whether f/t or p/t locum etc..

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