Here at Locate a Locum, we often get asked by full time pharmacists what they need to do to start locuming alongside their full time position. Usually the questions are from a taxation/financial point of view. So with this in mind, we thought we’d put together a short blog detailing what you should know if you’re considering locuming.
Here’s the low-down on both, so you can make an informed decision.
A sole trader is the simplest business structure you can operate under. There are over 3.4 million sole traders operating across all industries in the UK making it the most common structure.
Benefits of being a sole trader
Disadvantages of being a sole trader
Consider Sole Trader if Your Locum plans are temporary, part-time or you are just starting out.
With an estimated 1.9 million businesses, limited companies represent the second most common business structure operating in the UK.
Benefits of being a limited company
Disadvantages of being a limited company
If in any doubt, seek advice from an accountant as to which option is best for you. You can read more about being self-employed and paying tax in our guide to locum pharmacist tax & expenses.
You can speak to our expert team via chat or email us at firstname.lastname@example.org who will be able to give you useful links to pharmacy specific e-books and blog articles.