Tax - how much of your gross do you pay?

Lima said:
Why would he do this instead of being a typical employee of a normal company with job safety and benefits of employment.......
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because he has admitted that the rules should be changed... thus his opinion is that the loopholes in tax payment should not exist.

It's like saying you don't agree with legal highs use and then the next day going and scoring some for your best friend. It's not illegal, but it's not right either.
 
Ace Modder said:
It's not illegal, but it's not right either.
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Not that I agree either way or the other, but saying "it's not right" is a weak argument.

That's a bit like me calling you a douche bag for edging over the speed limit from time to time - despite it being more illegal than maximising your tax structure. After all "it's not right" but people all over the country do it.
 
Lima said:
Why would he do this instead of being a typical employee of a normal company with job safety and benefits of employment.......
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Unfortunately community pharmacy is in decline with funding cuts aiming to close down 25% of all the pharmacies in the uk. Also the market is saturated with pharmacists and there is an oversupply so salaries and locum hourly rates have gone down the pan too.

By contracting I can do as many hours as I can to try to earn more and also I find it enjoyable working in different places as I get bored being in the same location. I'm also at uni training to become a independent prescriber and the hourly rates will hopefully be a little better. Freelancing allows me to plan days off for uni.

I feel somewhat justified paying less tax because I feel previous governments have ruined it for us by allowing 100 hour pharmacies to open left right and center along with allowing more universities offer pharmacy degrees. Now they want pharmacies to close through cutting funding. All of this is starting to hurt us and has resulted in lower salaries for newly qualified pharmacists along with challenges finding work (for locum pharmacists who aren't experienced or haven't built relationships with pharmacy owners).
 
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coolsurfer said:
Unforetunately community pharmacy is in decline with funding cuts aiming to close down 25% of all the pharmacies in the uk. Also the market is saturated with pharmacists and there is an oversupply so salaries and locum hourly rates have gone down the pan too.

By contracting I can do as many hours as I can to try to earn more and also I find it enjoyable working in different places as I get bored being in the same location. I'm also at uni training to become a independent prescriber and the hourly rates will hopefully be a little better. Freelancing allows me to plan days off for uni.
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My question was to ace modder. I was sticking up for you.
 
Changing the subject a bit but what on earth is an independent prescriber?
A personal doctor ?
Can i book an appointment with you and ask to be subscribed Tramadol for my "pains" and you would write out a prescription over thwe counter or is it more commercial.
 
Efour said:
Changing the subject a bit but what on earth is an independent prescriber?
A personal doctor ?
Can i book an appointment with you and ask to be subscribed Tramadol for my "pains" and you would write out a prescription over thwe counter or is it more commercial.
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Isn't he basically a "locum".
 
The rules have been changed recently around this. I think k you only get the first £5000 of dividends tax free now.
 
Efour said:
Changing the subject a bit but what on earth is an independent prescriber?
A personal doctor ?
Can i book an appointment with you and ask to be subscribed Tramadol for my "pains" and you would write out a prescription over thwe counter or is it more commercial.
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Yes soon I could run a pain clinic and prescribe Tramadol for you ;-)

Basically by January 2017 I will have the power to prescribe all drugs (except diamorphine for addiction) within my competence (pretty much everything except chemotherapy drugs) using NHS prescription pads or my own (private prescriptions). I'll be the guy signing repeat prescriptions at a surgery so the doctor doesn't have spend time to do it and instead can concentrate on seeing more patients (there's a GP shortage).

Locum Doctors get paid >£100 an hour but they mostly don't sign repeat prescriptions only acute ones. Prescribing Pharmacists will start filling in the gap so doctors can just be doctors and spend all their time with patients.
 
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Ace Modder said:
My last payslip says I paid £1103.73 in TAX and NI in total for the month :(

Damn that tax man. But I sleep easy knowing I contribute to the UK. Unlike the OP - why don't you just leave the UK, you're a bane on our society. You will certainly be using more tax funding than you are putting in.
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I think you'll find that you're wrong. OP will still pay in more than he takes out, so no he isn't a burden on the UK. I'm basing this on calcs I've done recently for when I jump to Ltd company status next year (circa £88k turnover then using the tax 'non-loopholes.'). Will happily stand corrected if someone shows me figures to justify the contrary.
 
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Most one man bands/contractors/freelancers will have this setup. They tend to pay much more tax than their employed counterparts too, especially those VAT registered.

edit: urgh, I've annoyed my self with the use of "setup". Lets make that "are using a correct payment structure for Ltd companies as determined by UK law and as advised by their qualified accountant".
 
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coolsurfer said:
The system needs changing I think but is it wrong of me to do as I have done when the other guys do it too?
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They have changed the system, they have removed the dividend tax credit and added a dividend allowance of £5k then a tax of 7.5%, 32.5% and 38.1% to address the tax contractors pay.
 
All the self employed contractors do it, including myself. As long as the rules are there and the government don't change them, they will continue to do it quite legally.

No government, including Labour, will totally clamp down on it as too many government projects rely on people like us until they kill the pay grade system for Civil Servants, pay them a decent wage and encourage experts in our fields like myself into the roles.

It is a false economy, keep civil servants on **** money, fill the gaps with contractors that become embedded and go around the merry go around for ever and wonder why projects overspend.

Yes it is crap, but I have a family and helicopter to pay for and they make the system, not me.






Disclaimer, the helicopter bit was a joke.
 
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Ace Modder said:
Unlike the OP - why don't you just leave the UK, you're a bane on our society. You will certainly be using more tax funding than you are putting in.
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Bane of society are people whom are bone idle and just take from the system.

I've the same arrangement as the OP and I pay more in tax than what an average employee earns.
 
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