Are you a medical professional?
If so, there are some specific rules which apply to doctors and other medical staff. You may not be aware that there are specific tax reliefs for doctors which you could be claiming.
So, before you pay more tax than you have to, read our four tips to completing a tax return for doctors.
If you are an employed doctor and you only earn salaried income, you will not generally have to complete an income tax return. The exceptions are if:
- You wish to claim tax expenses (see below)
- You have been sent a return specifically by HMRC
- You have received some untaxed fees (for example court reports, cremation fees, locum work etc)
- You are a higher rate taxpayer and you have other income (rental income, investment income) on which additional tax is likely to be due
2. Consider professional subscriptions
Tax relief is specifically allowed on your annual subscription or retention fee (not registration fee) to your approved professional body. Subscriptions to the British Medical Association and General Medical Council, for example, are allowable expenses.
There is a list of all the approved professional bodies on the HMRC website.
3. Don’t include training fees
Whilst you can claim for your professional subscription, tax relief is not available on examination fees or course fees.
Employees are not entitled to an expenses deduction for any expenses incurred in ‘continuing professional education’ (CPE). This applies equally to hospital doctors employed in training grades such as senior house officers, specialist registrars and senior registrars.
4. Consider other expenses to which you are entitled
There may well be other tax expenses that you can claim a doctor. A tax return for doctors includes sections where you can claim other expenses such as:
- Mileage – If you have incurred ‘business mileage’ in your own car and not had this reimbursed (or if these expenses were reimbursed at less than 40p per mile) then you may be eligible to claim this tax relief. Don’t forget that travel from home to your normal place of work is not counted as business mileage
- Professional indemnity insurance – Tax relief is allowed on professional indemnity insurance (for example MPS, MDU etc)
Speak to a tax advisor or use the HMRC website to ensure that you are claiming all the tax reliefs to which you are entitled.