is locuming really viable in the long term?

Re: is locuming really viable in the long term?

Sammyannieantha — Sat, 02 Mar 2013 07:06:05 GMT

hi gillian :). i mainly get my work through vetconnect-thet charge the agency per day so i dont see any cut at all. danbro sort tax and nic-iv always had the same wage as what i planned id get (hope that doesnt sound confusing lol). some locum agencies do take alotv money. in my opinion an umbrella company is good because you get quite abit of tax relief on fueland subsistence x

ps MA is claimable from 6 months-i checked with danbro. it can get quite complicated.the way directgov explained it also is that if your pregnant and xant get work (should be able to though) then MA can be given as long as enough NICs have been paid..x

Re: is locuming really viable in the long term?

Gillian Mostyn — Fri, 01 Mar 2013 22:35:02 GMT

[quote user="samz60020@hotmail.com"]you can get statutory maternity pay as its payed by government[/quote]

Both SMP and maternity allowance are paid by the government but you only get maternity allowance if you are self employed. When I got it, it was a lot lower than SMP.

[quote user="samz60020@hotmail.com"] im classed as 'employed' by danbro my umbrella company.[/quote]

In which case you are employed and, I assume, paid through PAYE? Therefore your employer, your umbrella company, will be paying your national insurance contributions.

I assume being employed, and therefore being paid by the company rather than the practice, has an impact on your wage? I know when I have looked into locum costs the locum agencies seem to take quite a large cut from what I am paying?

Re: is locuming really viable in the long term?

bunnyshouse — Fri, 01 Mar 2013 21:54:29 GMT

Thank you for all ur comments. It's just the government are introducing compolsery pensions soon so not sure how this would work. Also I'm not in a relationship so if I had to take sick leave I would have very little back up. Hmm. Decisions decisions.

Re: is locuming really viable in the long term?

Sammyannieantha — Fri, 01 Mar 2013 21:07:53 GMT

you can get statutory maternity pay as its payed by government.. im classed as 'employed' by danbro my umbrella company. id get maternity pay through them and i can claim expenses on cpd,registration and uniform :D .its generally ok for me to have hols as pay covers :) x

Re: is locuming really viable in the long term?

Gillian Mostyn — Fri, 01 Mar 2013 11:52:22 GMT

It does depend on your personal circumstances really. As Mrs Spider said, you need to be flexible in working hours and travelling time.

Don't forget that you would not get statutory maternity pay or holiday pay, or CPD/registration/uniforms paid for.

Re: is locuming really viable in the long term?

mrsspider — Thu, 28 Feb 2013 21:11:09 GMT

I have 3 children and make sure I only work within travelling distance so I can get home everyday to see them. My husband helps out with school runs and looking after them if I am working late, if you have a supportive husband/partner it can definitely be done.

Re: is locuming really viable in the long term?

Sammyannieantha — Thu, 28 Feb 2013 20:48:28 GMT

hi there i have to agree with 'mrs spider'. i also locum and wouldnt want to commit myself to a permanent position.. i enjoy the freedom and variety. (as well as the money).. i do often wonder how it will work when we have kids but iv heard it can from a few people!:)

Re: is locuming really viable in the long term?

mrsspider — Thu, 28 Feb 2013 19:13:59 GMT

I also locum and currently do not see myself taking a full time position anywhere as I could not afford the pay cut. Your state pension will be the same whether you are self-employed as a locum or have a full time position, as long as you have been completing your self-assessment and paying national insurance. With regard to the sickness I don't think many practices would pay full pay for any more than 7 sick days per year, after that point you would be on statutory sick which is incredibly low and certainly wouldn't pay your bills anyway. I personally think the security of 1 weeks sick pay isn't enough for me to warrant the kind of annual pay cut I would have to take to go back into a full time position. Good luck with your new position, I hope it works out for you if it doesn't then I think Locuming is absolutely fine long term too X

Re: is locuming really viable in the long term?

Gillian Mostyn — Wed, 27 Feb 2013 15:21:53 GMT

You would need to pay into a private pension scheme and get income protection insurance.

To be honest, everyone, regardless of employment status, should try to get a pension really. State pensions are going to be going smaller and later! The cost of a personal pension depends on what age you are now, what age you intend to retire, and what income you would want in retirement. Get an independant financial advisor to give you an idea..

Income protection covers you if you cannot work. It usually only starts if you have been ill for >3months. There are 2 types - own occupation, which would pay out if you were unable to be a VN, or 'any occupation' which is cheaper but can be difficult to get paid - if you think about it, you'd have to be pretty sick to not be able to do any job at all!

As you have found, you get paid less as an employee than when you are self-employed. That is because your boss has no responisbility for you beyond your locum term. As an employee your boss will often offer incentives, such as sick pay, and is paying the government significant NI contributions, to give you the added benefits and security you get by being an employee!