Ndubuisi Egwim tells doctors they don't have to choose between working less or paying more tax. He introduces the ABCDE Tax X-ray, a five-point checklist to find tax savings without memorizing the entire tax code.
If you already plan to cut down on work to have more time to spend with yourself, your pursuits, and your family, that's totally fine. But it should be an intentional move. You should not be forced into it due to tax inefficiency. I don't think the choice has to be binary. One, work less and earn less, or simply accept whatever tax happens to come out of it. I think there's a third option. I know there's a third option. Understand the system and use it efficiently. That's number 3 option. Because earning more and keeping more of what you earn are 2 different skills. And after teaching Thousands of doctors, I've become convinced of something. You do not need to memorize the entire UK tax code. Nobody needs to do that. But you definitely need a system that tells you what to check and a way routine to have it checked, probably annually. Today I'm going to give you mine. It's called the ABCDE Tax X-ray. ABCDE five areas I think every doctor should periodically review. I wrote about it in chapter five of my book. I'm running the Doctor's Tax X-ray Workshop. If you comment X-ray, I'll send you the details.
