Don’t risk HMRC fines.
CSP tax refers to how tax works as a member of the Chartered Society of Physiotherapy.
This varies depending on whether you are a self-employed physiotherapist or an employed one. Otherwise, it’s no different from the tax that you pay in any other profession.
As part of the UK workforce, we all have to pay two types of tax:
If you’re employed, your taxes will be sorted by your employer. The only reason that you would be asked to do a tax return is if you earn more than £100,000 per year.
You may also have to do a tax return if you incur expenses that your employer doesn’t pay you back for, but this is only if they exceed £2,500 per tax year. Anything less than £2,500 can be claimed back using a P87 form.
A P87 form allows you to claim your expenses from work when you’re employed, rather than self-employed.
You do this via HMRC, giving them the below information:
If you’re a self-employed physiotherapy practitioner, you have to pay the tax you owe yourself.
You do this via a tax return.
Here are some key dates to remember:
You can claim back your expenses as a self-employed physiotherapist.
Deducting your expenses means that you only pay tax on your profit, rather than your income as a whole. And this is great to help you reduce your tax bills.
Here’s a list of expenses that you might incur as a physiotherapist:
Check out our Mileage Allowance calculator. Tell us the miles you travelled and the vehicle you drove and we’ll let you know what you can deduct.
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