Calculating the amount of tax refund for expenses 

Collected and written by: Mohamed Hassan 

Disclaimer

You have to check the up-to-date information about the topic also, review the local legal regulations 

Calculating the amount of tax refund for expenses as a doctor in the UK can be a bit tricky, as it depends on several factors, such as the type and amount of expenses claimed, the doctor's income, and the tax bracket they fall under. Here are some general guidelines to help calculate the amount of tax refund for expenses as a doctor in the UK:

1. Determine Eligible Expenses: First, determine which expenses are eligible for tax relief. Common eligible expenses for doctors include professional fees, subscriptions to medical organizations, work-related travel expenses, and the cost of purchasing and maintaining professional equipment[3][4][5].

2. Calculate the Tax Relief: The amount of tax relief you can claim on eligible expenses depends on your income tax bracket. In general, doctors can claim back up to 40% (or 41% for Scotland) of any expense that they are allowed to claim income tax back on[1]. For example, if you spend £1,000 on eligible expenses and you're in the 40% tax bracket, you could claim back up to £400.

3. Submit Your Claim: To claim tax relief on eligible expenses, doctors can use form P87 or file a self-assessment tax return[2]. The amount of tax relief you can claim will be calculated based on your income tax bracket and the eligible expenses claimed.

4. Seek Professional Advice: If you're unsure about the tax refund process or how to calculate the amount of tax relief you're entitled to, consider seeking advice from an accountant or tax specialist who specializes in healthcare professionals. They can provide guidance on the specific expenses you can claim and help you navigate the tax refund process.

Remember to keep accurate records of your expenses, including receipts and invoices, to support your tax refund claims. By claiming tax relief on eligible expenses, doctors can potentially reduce their tax liability and receive a refund for the expenses incurred in the course of their work in the UK.

Citations:

[1] https://www.medicsmoney.co.uk/ep-85-pay-less-tax-by-claiming-a-doctors-tax-rebate-today/

[2] https://www.jcssutton.co.uk/news/blog/how-to-claim-expenses-for-doctors-and-dentists/

[3] https://www.medicsmoney.co.uk/what-can-doctors-claim-tax-back-on/

[4] https://taxqube.co.uk/nhs-doctors-expenses-medical-accountants/

[5] https://www.legalandmedical.co.uk/are-you-claiming-all-the-tax-deductible-expenses-you-can/

[6] https://www.taxrebateservices.co.uk/tax-guides/healthcare-worker-tax-rebate-guide/