Day rates across several pharmacies, agency and direct bookings, mileage and GPhC fees. Here's how Making Tax Digital for Income Tax affects locum pharmacists, and why almost all of you are in scope now.
MTD for Income Tax is measured on gross self-employed income before expenses. On typical locum day rates, a full year is comfortably over £50,000.
Locum income arrives from lots of places, but it's all your self-employed income. Clear Books pulls every booking into one running record and one quarterly update, so multiple bookers never means multiple headaches.
Your annual Self Assessment return is replaced by four short quarterly updates and a year-end final declaration, all through recognised software.
Log each booking as you complete it so your quarterly total matches the shifts you actually worked.
Every pharmacy and agency is one income stream. Recorded together, they total into a single quarterly update.
However a shift is booked, it's your income. Any agency fee is an expense you record against it.
Travel to bookings and overnight stays for distant shifts are generally deductible. Log them as you go.
Registration and indemnity are deductible. Keep them recorded so nothing is missed at year-end.
You shouldn't need a spreadsheet per pharmacy. Clear Books pulls all your locum income together and gives HMRC exactly what MTD requires.
Record your shifts and travel as you go, and send your first quarterly update in minutes.
