Medical Finance

Hospital Consultants

High-earning consultants face unique tax challenges. We specialise in optimising your complex financial position.

The Challenge

The 60% tax trap and beyond

Hospital consultants with income between certain thresholds can face a hidden 60% marginal tax rate due to the personal allowance taper. Combined with tapered annual allowance on pension contributions, the effective tax burden can be devastating.

Our specialist team identifies these traps and implements proven mitigation strategies, from pension contribution timing to income restructuring.

Warning: Hidden Tax Traps

• Personal allowance taper creating 60% marginal rates
• Tapered annual allowance reducing pension relief
• High Income Child Benefit Charge
• CEA/distinction awards adding to threshold income
• Multiple pension scheme interactions

Most consultants overpay tax. We fix that.

Income Sources We Manage

Consultants typically have six or more income streams, each with different tax implications.

NHS Salary

Base salary, on-call supplements, and waiting list initiative payments.

Private Practice

Self-employed or limited company private consulting, surgery, and clinic work.

Medico-Legal

Expert witness fees, court reports, and legal consultancy income.

Locum Work

Ad hoc sessions at other trusts, including travel and subsistence.

Teaching & Research

University appointments, lecture fees, and research grant income.

Investment Income

Property rental, dividends, savings interest, and capital gains.

Ready to discuss your needs?

Book a free, no-obligation consultation with our specialist team.

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