Why healthcare locums are working with Exchequer Accountancy Services
When you hear about healthcare locums in the news, they’re normally being mentioned in stories about skills shortages within the medical field.
Locum medical experts have been stepping in to fill staffing gaps within the NHS and private healthcare companies for a long time, and chances are their services will be in even greater demand as the UK’s population increases in the coming years. But why do these contractors continue to work on a temporary basis when there are permanent jobs available?
The benefits of being a healthcare locum
As with any type of contracting, there are pros and cons to being a healthcare locum.
By working in this way, doctors, nurses, physiotherapists, speech therapists and any other kind of medical specialist can benefit from greater flexibility, enabling them to maintain a more favourable work-life balance and giving them greater freedom to chase the most lucrative contracts as they crop up.
Being self-employed means locums can also claim expenses when they submit their tax returns. Even if you’ve been working in the same place for anything up to two years, you can claim expenses on anything from travel costs to equipment costs. Full-time employees are not afforded such luxuries.
On the flipside, locums are not entitled to annual leave or sickness pay. Additionally, even though the demand for locums is particularly high at the moment, there are always obvious concerns about job security.
Medical professionals have much to consider before they decide whether to become a locum or remain as a full-time employee.
Why work with Exchequer Accountancy Services?
Although locums have a bit more leeway when it comes to selecting when and where they work, the very nature of the healthcare industry means that they still lead extremely busy lives.
With such a hectic, unpredictable schedule, healthcare locums have enough to think about without worrying about their tax affairs. This is why more medical professionals are working with Exchequer Accountancy Services. Benefits of working with us include:
- Real-time information – By using our FreeAgent portal, you can gain up-to-the-second updates on your tax affairs from wherever you may be.
- Flexible personal accountants – Not only can you have your own personal accountant, they will go to great lengths to work around your busy schedule, so you won’t have to take time out of your working day.
- Learn more about IR35 – If you happen to be operating inside IR35, our experts will guide you through the process and will explain the nuances of the legislation in the clearest terms possible.
- Don’t worry about deadlines – We’ll calculate all of your tax contributions on your behalf and ensure that deadlines are met.
- Validated expenses – Your accountant will work out exactly how much money you can claim back via expenses.
- Guidance on how to become more tax efficient – We’ll give you expert advice on how you can become more tax efficient, ensuring that you’re not paying too much unnecessarily.
- We’ll deal with HMRC – As discussed, locums are busy people and don’t have the time to deal directly with the tax authority. We’ll talk to HMRC on your behalf.
We’ve merely scratched the surface here. In a nutshell, Exchequer Accountancy Services can take a great weight off your shoulders by ensuring you’re legally compliant from a tax perspective, while at the same time helping you to keep as much of your hard-earned money as possible.
For more information contact the Exchequer Accountancy Services team on 033 3323 1199, alternatively you can contact us via the form below.