NHS Consultants

As an NHS Consultant, you need to take as much care of your personal finances as you take in your professional career. Which means looking at all the ways in which you can increase your tax-efficiency and reduce your tax liability wherever possible.  

If you are earning more than £150,000 per year, you’ll currently pay 45% tax on any income you earn above this amount. 

In addition, you’ll effectively be paying tax at 60% on any income between £100,000 and £125,000. This is because your Personal Allowance tapers or decreases, the more you earn. Which makes it easy to see the value of expert financial advice on lessening your tax liability. 

We will sit down for an initial consultation with you, face-to-face where possible, to check that you’re maximising your ISA and Capital Gains Tax allowances. We will examine your outgoings and income and your future life goals, so that we can create a personal financial plan for you that will help you live comfortably, both today and the day when you decide to retire from the NHS.  

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested. 

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief generally depends on individual circumstances.  

Got a question?

If you would like to speak to us about something particular, or wish to find out more about the specialist medical advice services we can offer, please get in touch.