Working in the medical profession can be both challenging and rewarding. Many doctors and nurses find that working as a locum through their own limited company is the best and most rewarding way to operate.
Looking for more information about why becoming a locum doctor or nurse could be the ideal next step in your career? Read our guide to find out.
There are plenty of benefits of becoming a locum, including:
If you are a locum working through your own limited company, your take home pay could be anywhere between 75% - 80% of your daily rate, for example:
Day Rate |
Take Home |
£200 |
£150 - £160 |
£300 |
£225 - £240 |
£400 |
£300 - £320 |
£600 |
£450 - £480 |
Any accountant will tell you that working through your own limited company is the most tax-efficient way possible. However, you shouldn't get a genuine limited UK company confused with some of the rather unusual and strange tax schemes currently being offered. Realistically if you live in the UK, work in the UK and get paid in the UK you’re going to have to pay tax in the UK. There are a host of alternatives but HM Revenue and Customs are clamping down on tax avoidance schemes so you'd do well to avoid them. Remember you and only you are liable for your taxes despite what anybody else tells you.
Speak to our team of friendly experts. We've been providing professional accountancy advice and helping locum workers to focus on what they do best since 1992.
Working through your own limited company as a locum isn’t for everybody. Being a director of your own limited company does come with responsibility, find below a few things to consider, you'll need to:
However, locums and other medical professionals tell us that after the flood of initial questions, the administration side of working through your own limited company only requires 15 – 20 minutes for the month, providing that is you work with an experienced accountant. If you haven’t formed a limited company yet, it's simple.
So other than a bit of admin, what are the downsides? Well, surprisingly few:
Due to the high demand for locums, it shouldn’t really be an issue sourcing work. But before registering with an agency, you might find the questions below helpful:
We recommend dealing with only one agency (two maximum). Some people feel dealing with only one agency restricts their job options, however, this means you will build a strong relationship with them ensuring they are looking for the best possible positions for you.
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Appointing an accountant can save you time and stress when starting up on your own. If you would like to speak to someone about any of the above information or any other queries you may have, arrange a callback and a member of the team will be in touch.
If you're already a client of ours, you can speak to your dedicated accountant directly.
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