The locum pharmacist tax return: deadlines, payments and what to include

Self-employed locum pharmacists report their income through a Self Assessment tax return each year, and pay the tax on it directly to HMRC. This is how the year runs.

The tax year and the dates

What goes on the return

• Your self-employment income: the total you invoiced for work done in the tax year.
• Allowable expenses, by category: see locum pharmacist expenses.
• Other income, such as a salary from an employed post (from your P60), savings interest and dividends.
• Pension contributions to a personal pension, so higher rate relief can be given.
• Student loan: say which plan you are on so repayments can be calculated.

Payments on account

Unless your bill was under £1,000, or more than 80% of your tax was already collected at source, HMRC asks for two payments towards next year's bill, each half of this year's, on 31 January and 31 July. In your first year this means paying one and a half years of tax on the same January day. The tax guide has a worked example.

Penalties

A return filed late brings a £100 penalty straight away, even if no tax is owed, and more the longer it goes on. Late payment brings interest and further penalties. Filing early does not mean paying early: you can send the return in the summer and still pay on 31 January.