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Ep 110: Tax, pension, IR35 and child benefit tips for GP locums

Medics Money podcast

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Payments on Account

It's very easy to overpay national insurance, especially in that scenario where you're doing a bit of self-employment and a bit of PAY mixed income sources. And the other thing that we see people get confused about again, because we're not taught about it is payments on account. So I think it's really important that every local need to keep a track of their targets or goals for the next year or expected income,. Otherwise, the payment on account is going to be simply for your total taxes paid for this year. The next year, you're going to pay the same amount of taxes.

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