Can NHS Doctors Really Get £7000 TAX REFUND?

A few years ago, when I first learned I could claim tax relief for my professional expenses, I couldn't believe it. So I wanted to verify. I went to the HMRC website myself and there it was in black and white. Because your flat screen TV wouldn't qualify, I'm afraid if you pay to professional organizations that are not approved by hmrc, you cannot claim. For this taxi and for the four previous taxes.

I almost missed claiming up.

To £7,000 in VS for multiple years as a doctor, which would have been a costly mistake that I don't know about you, but that's quite a decent sum of money for me. For the first few years of working as a doctor in the nhs, I had no idea that I could claim back several thousands of pounds of my work related expense. Now, this is not the sort of thing people stop you in the corridors and tell you about, certainly not on the nights that you're on call. But when I learned about this process, it helped me to claim back several thousands of pounds of my professional expenses. An important thing to know is that you can do this yourself, especially if you're claiming less than £2,500, which starts here. And the deadline for doing this is fast approaching. So take advantage of it. With this video you can learn step by step how to do it by yourself. Now, before we delve into the details, I say you have to understand that there's a right way to claim your tax relief and there's a wrong way that could lead to tax nightmares with hmrc. But don't worry, in this video, I'll not only show you how to do it the right way, but I'll also give you a gift. For those who watch to the end, it's a downloadable guide that will walk you through the process. In fact, you can skip to the end now if you want, or go.

To the show details and download it. I just want to take a minute to thank you for what you've done. Yes. You watching this channel now? Let me tell you what it is. So this channel has grown at amazing rate. It has grown at an amazing rate from 0 to over 1400 subscribers just within 4 months of launching it. Now, this is beyond my wildest imagination and when we launched a few months ago, I thought it might take us a couple of years, maybe three years to even cross the 1000 mark. So thank you. However, something really fascinating has come to my notice and I thought I should share it with you. I've come to see from our YouTube analytics, from our numbers, from the back end that 70% of you who watch this channel regularly and listen to the Money Wife Doctor podcast are yet to hit that subscribe button, that precious subscribe button on our YouTube channel. You see, when I first made this call a few weeks ago, it was about 75%. So thanks to you, the number has dropped from 75 to 70 just over the past few weeks. And I'm grateful. Well, our target is to get to 50%. If you can get 50% of the regular watchers subscribe, that would be fantastic. And I want to speak to the other 70%. While I thank the 30% who have already subscribed to the other 70%, my question is, why haven't you subscribed? Tell me in the comments. And if you like what you're watching right now, please can you hit the subscribe button? Go ahead, smash the subscribe button. So, thank you for watching and now let's jump back to this episode.

Anyway, if you're new here, hello and welcome to the Money Wise Doctor podcast. I'm Dr. Andre Gwim, ex salaried NHS GP and the founder of Money Wise Doctor, where we empower doctors, dentists, nurses and healthcare professionals in general to make smarter financial decisions and avoid costly financial mistakes on their journey to financial freedom. Now, just to be clear, none of this is professional financial advice. I'm not an accountant or financial advisor. I'm sharing based on my own experience to thousands of doll doctors. Now, if you need advice, speak to your accountant or go over to mannywisedoctor.com and find a specialist accountant who has experience working with doctors. So let's dive in. So why bother with the hassle of claiming tax relief in the first instance? After all, it's just taking precious time out of your busy life another 30 minutes to one hour to spend. But what if I tell you, let me break it down for you, that claiming tax relief can significantly reduce your tax bill, increase your take home pay, and most importantly, you're entitled to it. So unless you're happy to gift some money to the government, you want to claim what's rightfully yours. If not, you're just giving some money to the government. Now, with the rising cost of living and stagnant pay for NHL staff, every little bit of saving helps. So I think this is important. Now, if a higher taxpayer, particularly if you are approaching or have already entered the notorious 60% tax trap, this is even more important because it may affect whether you pay tax in a higher band or your deductions can help bring into a lower band to Help you pay, help reduce your taxable income. So let me start by giving you a real life example from my own experience a few years ago when I first learned that I claimed tax relief for my professional expenses, I couldn't believe it, so I wanted to verify. I went to the HMRC website myself and there it was in black and white.

I wanted to double check.

So I spoke to a specialist accountant who confirmed that this was all legal. So I set out to claim back what was rightfully mine. And I had multi two years to claim at this point. And this simple information helped me claim back quite a bit of money. In fact, the first year, the first tax relief, I think I claimed about £2,500 until I did. In multiple years that took me to claim almost 7,000 pounds of the goal When I first discovered it and went back three years in a row, that figure soared up to £7,000. And that's money I could have easily missed out on if I hadn't been aware of opportunities for tax relief. So the key part is you again understanding that you can claim back four years. And I can't even count the number of times I meet doctors asking, why am I just finding out now? I have already missed some years and I wish someone told me earlier on. Well, I'm telling you now. Now, with those compelling reasons in mind, let's dive straight into what you can or cannot claim as professional expense. Because your flat screen TV wouldn't qualify, I'm afraid. Right, so basically, tax deductible expenses are work related expenses you pay for personally paying for stuff that you use for at work. So especially if you're not fully reimbursed, I'll give you examples to help you understand it better. This really is applied to your income tax to help to reduce your tax burden. Now. Now, if you're an NHS doctor, dentist, nurse or other NHS worker, like a physiotherapist, you can claim tax relief for certain professional membership and subscriptions. Now, before we get into it in details, let's look at what you can claim and what you cannot claim. I'll take my direction from HMRLC from their website and I'll say that you can claim tax relief from professional membership fees if you must pay the fees to be able to do your job. And you can also claim annual subscriptions you pay to approved professional bodies or learned societies if being a member of that body is relevant to your job. We'll go into the details of all this in a minute. But basically you cannot claim tax relief. On life membership subscriptions or for professional membership fees or annual subscriptions that you have not paid yourself. For instance, if your employer has paid it for you, then obviously you can't claim it.

That will be double.

Also, if you pay to professional organizations that are not approved by hmrc, you cannot claim for this taxi and for the four previous taxes. So it has to be HMRC approved. I will show you how to find that list. Now, when considering expenses that can be claimed, HMRC test to apply what I call the three key test. I think HMRC has this thing, they say it has to be reasonable only and exclusively. So it has to be that this thing is reasonable. You can't just claim, oh, I bought a Ferrari and I want to claim it. And it has to be only and exclusively for your job. Now that we've cleared that, let's start with the claimable expenses. Now we'll look at professional fees. First of all, professional memberships and fees, those are the quite commonest ones for doctors. This will include things like GMC fees, BMA membership, medical defense, like MD, MD, US, MPDs, whichever one you use. And then things like the colleges, Royal Colleges like rocgp, Royal College of Surgery. And the same thing applies to nurses. You can claim your Royal College of Nursing, you can claim to like your nmc. And of course if you're a dentist, you can claim your gdc. These are sort of like the commonest ones everyone can actually claim and the list is already on the NHM HMRC website. But then there are other things like training courses, expenses related to training courses that are directly related to your job that can be claimed. And this could include cost fees, travel, cost associated expenses. This you can claim. HRLC also approves books and journals. So the cost of purchasing books, journals and other educational materials necessary for professional development can also be claimed. Not novels or motivational books, as long as they are related to your job. Now there are medical equipment excellences that you incurred purchasing medical equipment essential for your job, like stethoscope, diagnostic tools or even specialized equipment that are clever. Replacing them actually is what you can claim. There's medical clothing. So cost associated with purchasing and maintaining medical uniforms or protective clothing required for your job. Think about scrubs or uniforms for nurses. Obviously you can go and buy a designer shirt and try to clean it back, even if you wear it only for work. If you try that, you might have to speak to HMRC and it's not always nice. Now there are travel expenses that you can also claim. That's where you look at Mileage, as long as it's in keel. Traveling to temporary locations. So it has to be temporary location, not your regular job. And of course there's subsistence. The cost of meals and accommodations that you incur while traveling for work purposes can also be claimed for temporary assignments away from your usual workplace. So you can't just claim for your regular workplace. Now I think it's also important to look at what you cannot claim according to HM housing. So things like training for personal interest, maybe you're learning how to become better and playing the guitar, personal commuting, you have to travel yourself. Expenses that you spend obviously in your own personal trips. So you can't, you can't claim that workplace related, obviously the cost of traveling to a regular workplace, you cannot claim that as well. And there's quite a few other things you can claim. In fact, we've got a guide that you can download at the end of this video. I've actually listed all these things to help you avoid making any mistakes. That way you can walk through it step by step. Any private expenditure. Remember the test HMRC uses, it has to be reasonable. It has to be wholly and exclusively for your job. So you can't claim entertainment expenses or your country club membership or whatever it is the equivalent these days. Yeah, so you can't claim all those things. I think the next thing now is like, now that we know what we can claim and what we cannot claim, I think we should jump into part two where I can show you step by step how you can go into the HMRC website and do this all by yourself. I've done it in a video and you're going to see that next.

All right, so this is just a video step by step guide to go along with the other part of video. The first part describing step by step how a doctor, dentist, nurse or healthcare professional can claim tax relief on their job related expense. Now, if you haven't watched the first part, just skip to the beginning part of the video and watch it. Something key to remember is to be able to use this, to be able to use this form to make a claim, you have to be claiming less than 2,500 pounds for each of the tax years you're claiming. And you can only claim four years back. I explain all this in the video. And also if you do self assessment or use a limited liability company to work, maybe a locum GP or a locum consultant, this form may not be ideal. Actually it wouldn't be recommended. In that case, you need to do a self assessment or File your your limited company accounts as usual. Of course if you need any help, you can engage the services of a specialist accountant. You can find the likes of them on moneywisedoctor.com you'll find the ones that have been used and verified by other clinicians. Now a few things that will be helpful to have before you start. It's important to have your payslip. If you have your pay slip or your P60 or P45, one of those, you'll be needing it along the line to be able to help you get some details right. So if you're ready, let's jump right in. Excellent. So a good place to start it would be Google or if you download the free guide in the link in the description of this video you can just go directly to HMRC website. We included the link in the guide but if you you can also just head over to Google type in HMRC claim tax relief. Excellent. So it brings up claim tax relief for your job expenses and that is where you can start. Now I generally tend to scroll around, look at what is on the page, have a rid of it, but you can just go straight and pick professional fees and subscriptions. So this is where your gmc, your GDC or NMC and different professional fees come in. All right. Now when we get the professional fees, scroll all the way down. Obviously it says check if you can claim and clean. Make a claim if you're eligible. Remember, you need to have a HMRC account to be able to make this claim. And again in the guide we describe how you can open that is not difficult to open.

Right?

Okay, click start. Now let's start. So the first thing will be to select all the expenses you want to claim. I wouldn't pick work from home if you're a regular doctor. Working in the hospital uniforms is something you can pick if you're a nurse or if you're a healthcare professional that you have to buy scrubs and all of that. You can pick up uniforms and vehicles used for work. This is if you use your vehicle for work and you know you want to claim mileage and all of that. Let's pick that travel overnight and expenses. Again, this depends on whether you have to do work that takes you out of your regular place of employment. For most doctors who work in hospitals this might not be the case. But let's say you are a self employed nurse or let's say you are a medical doctor who has to go and work in a different hospital and have to spend the night. Then you can claim that as well. Of course, when it comes to uniforms, work clothings, nurses most likely should be able to claim this, especially if the workplace has not provided the uniforms. Right. The other thing, the main thing here I think is professional fees and subscriptions. So it includes fees subscription that you pay to approved professional organizations. So HMRC has a long list of professional organizations that are approved and is all in a very funny way that you have to know how to key it in the right way or you might get frustrated. Obviously organizations like General Medical Council, nmc, gdc, BMA and even your medical and dental, you know, mdu, your medical defense union, they are all part of that that list. But you have to key thing correctly. Now of course if you bought another equipment, I think most times what they pay for is for you to replace an existing equipment for or repair or resist an existing equipment. All right, let's jump right in. So click continue. Of course, who are you claiming expenses for? You say myself and the next step will be continue as usual. Are you claiming expenses after the 5th of April 2019? Obviously you can't go five more than five years, more than four years backwards. And the taxi looks at four years backwards. And because I'm making this video in March 2024, I'll say yes, I'm claiming after. So click continue. The next question will be did you pay tax in each of the years you are claiming for? Of course, if you didn't pay tax for that year, you can't really claim any tax relief. That would be funny. So I'll say yes, of course I paid tax. Continue. Do you complete a self assessment returns? Obviously if you do self assessment, this form will not be ideal for you. So I'll say no, continue. Then again, are you claiming. So it's basically verifying that you meet the criteria. So are you claiming expenses of more than 2, 500 pounds in a single taxi? Say no. If you put in anything at the end of the day, if it's more than 2500 for one taxi, it's going to come out with an error and you'll not be able to submit. So let's continue. So next question. Has your employer paid any of these expenses in this claim? Now if your employer has refunded you some say yes, some of my expenses. In that way you can't really say say no, none of my expenses. I can say yes. So in this case is no, none of my expenses. So continue. Now, are you claiming more than five five different jobs? Again, this form is not for anything complex. If you're Just claiming one, one or two jobs, that's fine. So I'll say no, I'm not claiming more than five different jobs. Continue. So it says you are eligible to claim this job expenses. Now you can claim tax relief for other expenses, professional fees. Basically just tells you things that you can claim for. You see all of that in the guide. We described it in very much details. I can download the guide with the link in the description and you'll be able to claim all of that. Right, so if you don't have a government gateway ID, you can create one. It takes about 10 minutes. Again, you can head over to Google, say government gateway user ID for hmrc and you can create it very easily. It's very important if you have your NIN number or a recent pay slip or P60, a valid UK passport to help you. So let's go on to claim. Claim your expenses online.

Brilliant.

So it says put in your government pass your government gateway user id. So I put in mine. As you can see, it's sort of screened because it's private, so you can put in yours as well. You sign in. So when you sign in, sometimes depending on your setup, you might send you a text message to help you to log in. But if you've logged in in the last seven days, it might not require any additional login details. Right, so tax relief for expenses of employment. Now use this form if you want to claim back employment. So it sort of reiterates everything. Again, if you want to claim back employment expenses, your employer hasn't paid you back all your expenses, your allowable expenses are less than 2, 5, you've paid tax during the year claiming for and you have not completed a self assessment tax return for the year claiming. So this is basically a summary of the whole thing again. And click start now. Right, you can continue from where you left off. I'm just going to delete the progress and just start from the beginning so that you can get and follow it step by step. So these are the tax relief it summarizes. Again, I'll say start now. Right, so previous claims, have you previously claimed tax relief on your employment expenses? I'm going to say say no. Basically, if you've claimed in the previous years, then say yes, but I'm assuming that you have not claimed at all in the previous years. So I'll say no. If you say yes, then it's going to ask you which year you claimed and it's going to ask you if your job has has changed since then. Described it again in details in the guide, which you can download. So save and continue. Obviously, my National Insurance number, yours will show up as well. I've blocked it out because I think it's personal. Your first name, your date of birth is going to ask for your postcode again. Put in your postcode. I've blocked out my postcode again. Of course, if you want to pay me a visit, send me an email and we can arrange the visit. But for now my postcode is blocked off. Or you can visit us at our office address. Now, telephone number, the same thing obviously. Private number. So blocked off. You can indicate the time you would like HMRC to ring you. But don't worry, in several years they've never rang me, so don't even hold your breath. They will ring you. So save and continue. Again, this is quite key, it's really important. Select the tax here your claim relates to. So again, you have to pick the tax here. So even if you want to claim for multiple years, you can only claim one taxi at a time. So you can start doing this claim and then when you finish for this year, you can add on other years. So for ease of calculation, I think I'm just going to start with 6th of April 2020 to 5th of April 2021.

Right.

That's the taxi I want to claim. So you can see that you can claim back all these taxes. I wouldn't go ahead and claim 6th of April 2023 to 5th of April 2024. That's the current tax here. Because I'm still within that taxi and I might still end up making some expenses that I can claim later. So I'm going to leave that, but I'll just claim the year that I've already passed. So save and continue. Now, employer's name. So put in your employer's name for me. I'm going to put in Royal Cornwall Hospital. That was my former employer. Yeah, can't type that fast on the phone. Radio. Commercial Hospital. Then this is an important part. This is the reason we asked you to have your P60 or P45. So I'm going to include my employer reference number is usually three digits, so there will be three digits and a forward slash and then your tax office employer reference number makes up that number. So I've included mine here, you can find yours and include it.

I've blocked off again.

I've strained it off because again, it's something personal. Your job title, you can put anything there. You can put gp, registrar, which was my job title, or you can put doctor or whatever. Is your job title. You can put consultant, it doesn't really matter. If you're a nurse, you can put in nurse. If you're a dentist, you can put in dentist. Save and continue. Excellent. So it starts with flat rate. Do you want to claim flat rate expenses? So basically if you want to just claim a flat rate, you can say yes. So flat rate can be claimed by individuals who incur expenditure on maintenance, repair or replacement of work equipment and specialist clothing. I tend to suggest you say no so that you can actually impute exactly what you want to claim. If you say yes, then it's going to bring out a few things for you to put in. So I tend to say no for that. So I'll go back, I'll say no for flat rate. Save and continue. So the next thing is your mileage. So it goes, so you use, did you use your vehicle for work? If you say yes. In my case, I'll say yes. Because if you use a vehicle to do home visits or use it to travel to another site of the hospital, or let's say you are a nurse and you've had to do home visits, let's say district nurse, I'll say yes and then I'll take cars. If you, if you ride a motorbike, and I mean more exciting, you can choose motorbike, but in my case cars and van. Save and continue. Now the next question is going to say enter the mileage. So enter your mileage, the approved mileage rate. So HMS has an approved mileage rate. They used to calculate it. I think it's 45p. So usually if you want to calculate your mileage, the easy way to do it, aa. So if you go on Google and type in AA mileage calculator, they've got like a mileage calculator that is really quite good that you can just put in. In my own case, I'm just going to say 100 miles. I don't think I travel that far. I'm just going to say 100 miles. So let's make it 50. But calculate your own mileage and put it in there. And what's important is that you must have a record of it somewhere. I think it's ideal to record it somewhere. I used to use a spreadsheet to tally it, but it's easy, you can just go on AA and do it as well. Right. So save and continue. So it's automatically calculated the mileage for me. So have you received any mileage allowance payment from your employer? No. So if your employer has refunded you for the mileage. I remember when I was a trainee, Health Education England, you could actually claim some of the mileage back to your employer, but no, in this case, I'll say no. So you're saying my mileage is £22 50. Obviously it's because I put in a low mileage. Whatever it is that you've actually claimed, that is what you can claim. Right, save and continue. So fuel expenses. I'll say no to foil expenses. Again, because I haven't claimed any foil expenses. I don't think this would actually work for most doctors and dentists. Again, it all depends. If you have had full expenses because you're using a company car, you can claim it, but I think it's quite unlikely, so let's move on. Continue travel and overnight expenses. Again, this also depends. If you're in a regular employee in a PAYE job, I think it will be quite rare, but I've been in jobs in the past where I've had to work overnight elsewhere, so I was able to claim tax relief on expenses from that journey. In this case, I'll say no. For simplicity, if your case is yes or you're confused about it, put in the comments in the video, the comments below and we're able to answer your questions in much more detail. So save and continue. Now, professional fees and subscriptions. I think this is the meat of the matter. This is the most important part for most doctors, dentists and NHS healthcare professionals. So have you paid professional fees or subscriptions?

I'll say yes.

This is where you can claim your gmc, gdc, bma, nmc, Royal College, even your medical and dental, you know, your mdd, us, mdu, mps, you can claim it from here. Right, so here is a bit tricky and you've got to be careful here. You might spend a lot of time on it. So it says full name of the professional body. Now, if you go in and type gmc, it might bring up gmc. Yeah, it brings up gmc, but it might not be so lucky with the others. So if you type gmc, it brings out Medical Council. General. See, it doesn't say General Medical Council, but if you type let's say General General Medical Council. General starts bringing up something different. So a quick way to do to be type gmc, it brings out General Medical Council. There will be other options there as well, but I'll go with General Medical Council because that's one most doctors will claim. They just leave a nurse. You can also claim for your relevant body. So General Medical Council amount paid by you. So pay, you know, enter what you paid for your GMC fee. I think 480. And then amount repaid to you by your employer. I'll put zero. My employer did not repay me for my GMC fees. So that's it for gmc. Now, this is the key step. Now before you go on, don't go on and say save and continue. Come to add another professional fee or subscription. This is how you can add the other professional fees. So if you click here, it says, okay, it brings up professional fee or subscription too. So the full name of professional body. Now, which one should we go for next? I think we should go for bma. So if you look for bma, you will see that nothing comes up if you type bm. So start typing. British Medical Association. Obviously, if you're a dentist, you go for bda. So British Medical Association. Unfortunately, you have to type it almost all the way in full before it shows up. So if you type British Medical association, you see is not listed as bma. It's not listed at British Medical Association. I don't know if it's done to make it even much more difficult. You can see here it's listed as Medical Association British J. British Medical Journal. So Medical Association British is bma. If you are looking for bma, obviously if you're a dentist, you can look for bda. And if you're not, you can also look for your own union association. So I'll click that. British medical association and BMA fees. I know BMA fees. So let's say 490. Again, I'm using arbitrary figures here. You can check what you actually paid by paid for bma. And if your employer has actually refunded any of this fees, then you have to put in the amount they repaid to you. You can't claim it because that would be double. All right, so that's it again. Remember, if you go on and save and continue, then that would mean you, you have to come back anyway to add the other professional fee. So if you want to add another professional fee, come right to this button. You can see add professional fee or subscription. So we click on that button, it takes us to professional fee or subscription.

3.

Again, the next thing to think about, what other professional fee have you been paid? I think Royal College. So if you are, if you're a member of any of the Royal Colleges, Royal College of Nursing, Royal College of General Practitioners, Royal College of Obstetrics and Gynecologists, or real college of Physicians, whichever It is. I think you can come in here and type it in. Now. If you start typing Royal College, unfortunately you might be typing quite a few things before it shows up. So type it. I'll start typing the actual name of the. I'll start. Oh, no, no, no. I think the best thing in this case. It all depends. I'll start typing Royal College at this stage. So it brings up a whole lot of Royal Colleges. You can see a lot of times you have to dive into, work it out. And I look for my actual Royal College. Mine is General Practitioners Royal College of. So it depends on which one you are. If you're. Imagine if you're a real college of Emergency Medicine, pick yours. If it's Royal College of Anesthetist, speak yours. In my own case, it's Royal College of General Practitioners. So ROC gp. I picked that there. I include the amount I paid. I think RCGP fees is going up in the next tax year. But I'm just going to put 499 again, a random figure you can put in the actual amount that you paid. I've put 0 as amount repaid to me by employer because there's no amount repaid to me by employer. So that's it. So it brings you here and says total professional fees and subscriptions paid £1,469. Total repaid is 0. As you can see, I've been very conservative with the professional fees. I know they cost more than that. But that's not all. Remember, if you pay for Medical Defense Union, if you pay mdu, MPS or MDD us, any of those things, you can also claim it. So I'll come down here and add another professional fee or subscription. So that's Professional fee or subscription number four. So now again we get going to type. I'll say Medical Defense. If you try to type mdu, let's see what happens. It doesn't really bring up anything useful. So I'll type Medical Defense. Again, if you download the guide, it's step by step. I included pictures. I cleared all the step by step pictures that can help you so that there's no confusion. So see what comes up. Medical Defense Union, Medical Defense Protections. They signed in. So Medical Defense, you know, Medical Defense Protection. Sorry, Medical and Dental Defense Union of Scotland. I was thinking of NPS Medical Protection Society. So I'll choose MDD us and you're asked amount paid by you. Okay. Can't remember exactly how much I paid for MDD us, but obviously you can get the receipts. The receipts are easy to get log into any of the websites of any of these organizations, log into your member area and you can see you're able to easily download all your receipts for several years. So in this case, I'll say for MDD US, I paid £500. Amount repaired to me by employer again is zero. All right, I think. I think my MD US is more than that. I'm going to pick 700. It used to be much more expensive for JP until recently. The Crown now pays part of the MDD US. So I'll say 700. And all together so far here I've got 1969 pounds. So if you remember any other professional fee you've paid, any membership you've paid, you can also come here, click add another professional fee or subscription. But in this case, I'm going to click continue, save and continue. So it says you can claim back tax on the medical exam and course fees if the training is an essential part of your contractual duties of employment. So basically what it's saying is that if you need to do this exam exam or you need to do this course to be able to do your job without doing these exams, you're not able to do your job, then you can claim them back. But obviously, if you decided to do an exam you wanted to do aesthetics, or you want to do a course to learn how to do jointing injections, if they don't deem it to be necessary for you to do your job in that particular area, then it might struggle to claim it back. So let's carry on. Have you paid medical exam or course fees? Again, I'll say yes. Now, name of the medical exam or course fields. This is where it does get a bit hairy, but there's a way around it. For instance, if you have done AKT Applied Knowledge Test, rather than type AKT as an abbreviation, I'll type Royal College of General Practice. So type Royal College of General Practice Practitioners. Yeah, not very fast typing on the phone. Royal College of General. Practitioners. Practitioners. And then type in full akt. So to be Applied knowledge test. Again, if you are doing another exam, let's say you're in another college. You can also indicate exactly what exam you are doing. Include the name of a college, include the name of the exam amount paid by you. I don't know what AKT cost these days, but I'm just going to go conservative here and I'll say 450amount repaid by employer. 0 pound. Yeah. So if you know what AKT cost that you're writing AKT, I wish you, Good luck. You can pop in the comments what the amount is and we'll compare it again when we come back. Have to look at this video in a year's time, but maybe we might have an updated one. So zero now, if you're a member of the Royal College of Obstetrics and Gynecology or a separate college, you can also do the same. Maybe you're writing MRCP or any other exam, putting the full names there. It's always better to do it right the first time. So save and continue now using your home as an office. I've done jobs in the past where I use my home as an office, but if you're a regular doctor working in the hospital, hospital, I think this might not be the case for you. You might also, if you're going to need to claim something that is not sort of like straightforward, sometimes you might need help from a professional, like a specialist accountant who can help you. Or you can try doing it by yourself or do a self assessment. In this place, I tend to say no and I'll save and continue order allowable expenses. Okay. So other allowing expenses would be other things you spent on in this period. So if you've got other things you spent on, like let's say you bought a new stethoscope or rather than buy, you bought a new one to replace the existing one, or you had to repair something or you had to buy a new tendon hammer, you can also include them here. So I said no, continue now. General expense is received. Have you received any general expense allowances from your general expense allowances from your employer? These are the total amounts you received instead of claiming separate amounts for individual expenses? Well, no, this is not usually the case for most doctors, dentists. I don't know about nurses for sure, but I know for most of us we don't tend to get any general expenses. If you're a nurse and you're watching, if you get any general expenses allowance from your employer, please comment in the comment section and let us know. But for most of us you don't get any money like that. So I'll save and continue. Right. So it says for tax year of 2020, 2021 that I can add more expenses, but you can see it's already 2641, so I can't really proceed. So if you go above 2500, you can proceed. What am I gonna do? I'm going to go back because I don't want to have to go above 25 and have to, you know, come through all of that. So just for illustration purposes, I'm going to take away the exam, I'm going to reduce it down to, let's say, £200. Obviously it costs more than that. So if you're claiming and you see that you're exceeding 2, 5, I don't want to have to do more than these steps or you want to claim it in another year, let's say the expense did not haven't happened in that particular year. You can just keep it at 2, 5. If it's going to exceed 2, 5, then you need to do a self assessment. So save and continue. Save and continue. So it's understanding what is required and understanding the eligibility so that it doesn't become frustrating. Well, so this is where we are, we are at the princely sum of 2391.50. So again, remember to claim what you spent on. I always think it's best to have the receipts available. HMRC does not ask you for the receipts, but just in case one day they decide to audit you or they decide to say, I'm not going to approve this expense. You want to have it ready, you want to have it available? Yeah. So claim exactly what you spent on what is eligible to be claimed.

Right.

Save and continue. So total expenses, you receive tax relief on the amount you claimed at the rate of tax you paid. So this is important. If you're a basic taxpayer, you're paying at 20%, the relief will be at 20%. If you are a higher taxpayer, the relief will be at 40%. Or whatever is your tax rate you're paying. So you receive tax relief on the amount you claimed at the rate of tax you paid. For example, you make a claim for expenses of 150 pounds and your rate of tax is 20%. The tax relief will be 30 pounds, which is 20% of 150. And yeah, it lists the employment Royal Cornwall Hospital, so you still have an opportunity to edit it if you wanted to. And of course, if you had a separate job, let's say during the year you had a separate job, you can do add another employment. So if for that year you had to move, for instance, you were rotating jobs and you had to move from one hospital to another, or you switched employers during the tax year, you can just add another employment here to add the other expenses you made in that year. Again, if you are claiming multiple years, you can use this button to click add another tax here and then start the whole process, sort of repeat everything again to claim your expenses for that taxi because the video is already long, I'm just going to say save and continue. All right, so they're going to ask you. This is the interesting part, or rather it's a sweet part. They say, who would you like us to make a payment to? You can say you save and continue. And what address do you want it to go to? The payment? I'll say the UK address. I've already given it in the form save and continue. So that's a summary. You can go through the summary again. You can see that I've covered my nin. It's none of your business. And I've also covered my address and phone number. But you can always send me an email, I can have a chat. But you have to go through it, make sure there's no mistake so that you make sure you have everything done properly. Go through it, double check everything and keep going till you get to the bottom of it. You can say save and continue. And this is the last page. This is the page between you and getting your tax relief. But you have to make a declaration. You can say, I declare that the information I have provided is correct and to the best of my knowledge and believe I understand that deliberate provision of false information may be a criminal offense. So serious stuff when it comes to tax on hmrc. You don't want to make a mistake with it. This step by step guide is supposed to help is educational, is not professional advice. But I think many people have used the same process to claim their taxes without any problems. If you have any confusion about it, head over to the link in the description and download the free guide step by step. But if you still need professional advice, go ahead and book an appointment with a specialist tax accountant or specialist accountant. You can find them on moneywise doctor.com and you should be able to, you know, get some help in that area or just chat us. Chat me right there in the YouTube comments. And if we can help, we'll help as much as possible, right? So include your email address. Confirm and send. Voila, that's it, you've done it. Well, I hope you find it useful. And of course, if you like to keep getting tips and useful insights to help you make smarter financial decisions as a doctor, dentist, nurse or healthcare professional, head over to moneywisedoctor.com and subscribe to our weekly newsletter.

If you've watched up to this point, I've created a step by step guide that you can download Tatami for free to help you claim your tax relief. And if you still have questions after reading it, Feel free to drop them in the comments below. Check the description for the links, and if you found this video helpful, please share it with your colleagues who might also benefit from it. And while you're at it, check out our playlist on ISAAS for more useful information. It's somewhere on the screen there. Remember, claiming tax relief can be a big tricky, but with the right guidance, you can save money and make the most of your hard earned cash. So go ahead and download the guide right now. Let me know how this goes for you. Thank you for watching and I'll see you in the next video. Cheers. Bye bye.