Locum Pay Strategies

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    Home » Services » Locums » Locum Pay Strategies

    Navigating Locum Pay Options

    Determining the most advantageous way to be paid as a locum involves navigating a variety of options. Our expertise ensures you select the method that maximizes your earnings and complies with HMRC regulations.

    Tailored Locum Pay Advice

    For locums, choosing the right payment method can significantly impact financial success. We provide personalised consultations to identify the most beneficial and compliant pay structure for your work.

    Advantages of Optimal Locum Pay

    Selecting the right pay method not only aligns with HMRC requirements but also unlocks potential earnings and pension benefits. Our guidance ensures you make informed choices, catering to your unique locum roles.

    • Expert analysis of various locum pay structures.
    • Maximising earnings while adhering to tax rules.
    • Strategic advice on agency and personal service company payments.
    • Assistance with NHS pension contributions.
    • Evaluating cost implications for each payment method.
    • Ensuring compliance with IR35 regulations.

    Personalised Locum Payment Solutions

    Our role is to guide each Locum doctor through the intricacies of payment methods, considering individual contracts and circumstances. We evaluate all options, from PAYE to limited company structures, to determine the most financially advantageous route, ensuring compliance and maximising pension opportunities.

    We have received an excellent service since we moved to Nichols & Co. The transition has been the most hassle-free and transparent. They are always very helpful with any queries you might have and have a very good working knowledge of General Practice and are keenly aware of the challenges Practices face within the changing environment of the NHS.
    We have been very impressed by the way Nichols & Co continue to deliver the range of services they provide from Accounts to Tax and NHS Pension advice.

    At the year-end meetings, the accounts are presented in an understandable format without any unnecessary jargons. We have found Practice consultation and advice on Practice as well as personal tax matters from Nichols & Co specifically helpful.
    We would not hesitate to recommend them to other GP Practices.

    Dr William Jasper, GP Partner

    I am a GP who works both in salaried and sessional roles. I have been with Nichols & Co for nearly three years. They have helped with my tax returns and can help with the range of different forms required in GP work. Danny and Shadmir have been accurate and efficient in their advice and guidance throughout. They have also been helpful and responsive when I have needed advice on the purchase of a car and also when looking to prove my income in order to get a mortgage.

    The system for providing income details and expenses is very easy to use and the summary they provide of how and when to pay your tax could not be clearer. I would recommend Nichols & Co to any colleague looking for an accountant with a good knowledge of GP work. 

    Dr C DeSouza, Salaried GP

    I’ve been with Nichols and Co for nearly 10 years with Debra being my accountant. I first contacted them when I received letters for tax arrears due to the wrong tax codes being applied during my hospital jobs.

    Debra sorted this matter out and has always provided helpful and honest advice regarding tax matters. She has also helped my wife with her tax returns. I would definitely recommend their services for accounting matters with a special interest in helping doctors with their tax affairs. They are approachable, helpful and efficient.

    Dr Ravi Bansal, Locum GP
    Get in touch
    Contact us for specialist medical accountancy services for Locums

    If you’re looking to plan your finances for the future or trying to find an answer to a problem then get in touch today.

    Telephone: 020 8850 3300

    We’re open from 9am to 5pm Monday to Friday. We are closed on bank holidays.

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