New GP [TERS] Payment

Tribster1990 · 20 June 2018 at 2:14PM

Hello everyone, I've searched for a few keywords and can't see anything related so i'm braving it and making a new post in the hope it hasn't been opened elsewhere!...

I was wondering if anyone on here has received a TERS payment for relocating as a new GP? The bonus is £20,000 but after tax and student loans and NI etc... it's obviously going to be considerably less. Hence my questions...
1 - Anyone that's previously received this, how much did you actually get after tax? I calculated it at £8,000 but I know some have received £12,000 so unsure where my maths has gone wrong.
2 - Is there any way to make the most of this payment in the way I accept it? There's probably another post somewhere on making the most of a bonus payment so will dig through and look if any GPs out there don't know the answer to hand.

Thanks

agrinnall · 20 June 2018 at 8:37PM

It depends on what the rest of the salary is, and possibly on when in the tax year it's paid. Pretty difficult to answer without giving us the specifics, although I'd have thought it unlikely that tax, NI and SL would add up to more than 51% (40% + 2% + 9% respectively - although the last figure may vary for different types of student loan).

New GP [TERS] Payment

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