Support and Links
For Vets coming in the Uk from outside Europe please check for up to date requirements with the UK Border Agency www.ukvisas.gov.uk for up to date requirements
To work as a vet in the UK you must be registered with The Royal College Of Veterinary Surgeons www.rcvs.org.uk Please be aware it may take 6 - 8 weeks for applications to be processed.
Tax & Accountancy Issues for Locums
As locums, you need to consider your position in respect to paying tax and national insurance. There are several options available, all of which have their advantages and disadvantages which are touched on below. The options available are:
Employed by the Veterinary Practice
The veterinary practice will put you on their payroll, who will be responsible for deducting tax & national insurance from your pay and pay it over to HMRC on your behalf.
- Advantages
- Less hassle for you
- No status issues with HMRC
- Disadvantage
- Some firms do not want the hassle especially for short periods
- Unable to claim tax relief on your expenses
- Not the most tax efficient option
Operate Through A Limited Company
By setting yourself up as a limited company you issue invoices for your services to the veterinary practice and are taxed on the profits of the limited company.
- Advantages
- Practices increasingly prefer this option as no tax implications for them from HMRC
- Can claim tax relief on expenses
- Most tax efficient option
- Disadvantage
- Set-up cost of limited company (although minimal)
- Accountancy costs associated with limited company
Self-Employed
You will need to be registered with HMRC as self-employed, which means that you will be paid by the veterinary practice gross (no deduction made for tax and national insurance) giving you the responsibility to complete your own personal tax return and paying over the tax and national insurance to the HMRC.
- Advantages
- Can claim tax relief on your expenses
- Best option if work only for short periods
- Lower costs to practices as avoid HMRC tax implications
- Disadvantage
- HMRC may question whether you are self-employed
- Many practices do not deal with self employed locums due to national insurance costs
- Your legal status may change from one job to another
- You are responsible for own tax affairs
Our association with Bennett Brooks Chartered Accountants can assist you with your tax status as a locum and provide you with a cost effective service to reduce the burden of compliance with your tax responsibilities, as well as setting up limited companies and providing you with all your accounting needs.
They have tailored packages that best suit your individual situation, which includes a free initial consultation to discuss the best route for you. Their Locum Services department provides a one-stop shop service that includes business start-ups, setting up as a limited company, accounts preparation, all the taxation services you will require, and continued support throughout the year. Bennett Brooks are a member of the Professional Contractors’ Group Accredited Accountant Scheme which ensures that everything you expect is included in the Locum Service. Contact Stuart Littler on 0845 330 3200 or look at their website for further details and to register your interest.