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Medics Money podcast
Ep 201: £££ Thousands back from tax rebates
Mar 5, 2024
Discover how doctors can claim substantial tax rebates on expenses like GMC fees, professional exams, indemnity costs, and more. Get expert advice on reclaiming tax rebates efficiently and learn about the process, eligible expenses, and deadlines for maximizing tax relief. Explore the benefits of specialist medical accountants and the importance of proper documentation for claims.
13:08
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Quick takeaways
- Doctors can claim tax rebates on expenses like GMC fees, college fees, exam fees, and more, potentially saving around £2,350 over four tax years.
- Tax rebates can be claimed for allowable expenses such as professional fees, exam costs, and associated travel without needing receipts, but employer-paid study fees are excluded.
Deep dives
Tax Rebates for Doctors
Doctors have the opportunity to claim tax rebates worth thousands of pounds by submitting claims for expenses like GMC fees, college fees, professional exam fees, indemnity fees, and other employment-related expenses. Claiming these rebates could result in significant savings, with examples showing potential returns of around £2,350 over four tax years.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode