The Reality of 1 CRORE /£100,000 Salary in the UK

[@RELIENCE]

I am someone who used to earn 40L INR CTC in India and shifted to London now with 100K+ GBP CTC (both pre tax), UK does offer comfortable lifestyle and you will be earning more than most average brits (earning and not wealthy since latter involves inheritance etc). However, since cities like London are super expensive, if you were to stay and use your same skillset in Indian metro cities, you may get salary that makes you feel comparitively richer. Think of 100K GBP (or 66K GBP in hand) to be equivalent to getting a 2.5 Lakh in-hand salary in Delhi. Both 66K GBP or 2.5L INR in hand are comfortable salaries but the latter may make you feel richer due to low cost of living in India

[@saranRamsai]

Hi I am working remotely in my home town visiting bangalore office in crucial meetings 1-2 times a month max. making a 40 ctc . I lived 2 years ago in london with 74K gbp. I have more savings now. i also worked 2 years in uk. the savings are much higher in india. UK I saved 20% if lived very frugally before cost of living. Currently i am saving 70% percent due to less expenses in towns. I roam around whole day in my town with less than 1000rs (petrol, food and misc purch) like a king. In uk transportation one side will eat this up. If any one has similar options like me better to shift back than to freeze in cold there.

[@SumanPaulDoc]

Thank you for sharing your experience! It's inspiring to see how much you’ve been able to save while working remotely. Your journey really highlights the benefits of flexibility in today’s job market.

[@VikasYadav-hg9en]

Thanks for sharing this video. Apologies, I believe your 60% tax figure is not correct. Actual tax you pay to UK government (HMRC) is more then 60%. True tax value which UK government extracts is 60% (Income tax) + 13.8% Employers NI (this is another name for Income Tax) + 2 % (Employees NI (this is another name for Income Tax). Hence the true value of direct employment tax , extracted from employees is close to 74%. This 74% is what you can call as TDS (Tax deducted at Source), which you never see in your bank account as its directly deducted before your pay hits your bank account. On top of this you pay VAT at 20%, Council tax, TV tax (if you have TV), Road Tax (if you have Car) etc. etc. Actual marginal Tax as decent worker pays is more then 84%. I hope this helps to understand why UK is going down the hill at this rapid pace. UK is strong believer in equality, unfortunately British leaders can not make everyone rich, so only other option left is to make everyone poor. Final outcome everyone is more or less, equal. Welcome to the Great life in Great Britain.

[@linkin324]

I don’t under why people still prefer to live in UK rather than live in close to zero tax countries like Dubai or Singapore

[@SumanPaulDoc]

Well explained!

[@A_Sen_0]

Lol Then how i know many people r saving 40% before tax income

[@deepakshetty1965]

Thanks for the information. I think it will be useful if you could add the details regarding other taxes like NI, Council tax, VAT, Road tax,...etc. That will give some idea, what actually a common persons tax contribution to the govt who's an corporate employee.

[@sanjidhaneef9614]

Can we do mrcog program whichever hospital we want through agents , I mean hospital which has not listed in jrcptb accreditedtion ...I was told by a agents that you can take this program from your near superspeciality hospital..is that so ..please reply

[@SumanPaulDoc]

Ask you agents how many doctors have passed MRCOG by training in those hospitals and contact these doctors directly. I dont know of anyone who has

[@tausifalam6047]

Sir,If I pass the plab exam and start my nhs career from foundation year 2.Then will I have to give any kind of exam to enter core training and speciality training?

[@SumanPaulDoc]

There are many exams like MSRA, Royal college exams and interview to enter training

[@SamJenkinsStephenson]

Another way to escape this trap is both partners earning upto 100000 per year. Together family income less than 200000 and still not in 60percent tax trap.. another point to remember about pension plans is it can be reimbursed for three previous years income tax years...and limited company would reduce taxes for assets and making family members as shareholders..

[@SumanPaulDoc]

Crucial points

[@TravelWithSravan]

Sam could you explain about pension reimbursement for previous years?

[@Sk-tv1rz]

Happy with my 50 LPA in India….thanx

[@anuragmodi6264]

Post tax income for doctors in the UK is similar to pre tax income in india

[@kenny9168]

50LPA in India you live king life… In UK you would still cleaning and cooking 😀

[@Sk-tv1rz]

@@kenny9168 I don't mind cooking n cleaning in India too....although I have help for that...

[@Sneha_mom_1995]

@@kenny9168 No one is forcing u to go abroad But Amount of money can be saved in rupee terms will be much much higher in uk . For example many junior dr saves 1k£/ month While in india they can’t save 500£/ month

[@samosa007]

​​@@kenny9168 But what about the savings in uk vs savings in india😂 Anyone can definitely save way more in uk compared to india if live frugally

[@stephenmani8495]

Very good and informative video. Thank you.

[@dr.anusree8874]

This was an insightful video doctor. Thank you

[@arjungupta-i4x]

I have family company under Ltd. We pay taxes only on salary withdrawals.

[@rajdeephati9445]

hello sir, are there any options to do private practice after registraar level or consultant?whats the income like..kindly give an idea

[@rushikeshnalavade8295]

Hi sir Thank you for such valuable videos I have a doubt ... I have received a post in anesthetist as a locum consultant and about to start in the month of January, 2025. I am in India for the last three years and I pay approximately 150 pounds every year to GMC to keep my name on the GMC register. However, I have given up my licence to practice which I need to activate. My question is what is the procedure in GMC to activate the licence to practice ?

[@SumanPaulDoc]

I don't know the process exactly.you have to check with GMC. I guess they will ask for your appraisals in this period

[@dkpelect]

What app is best to invest in these ETF from uk ?

[@SumanPaulDoc]

I use investengine for fee free ETF investment : investengine.pxf.io/NKAZjv

[@shahproperty7511]

I live in the UK born and bread. How does setting up a limited company help offset the tax? If you're a PAYE employee you salary will be taxed accordingly. Intrigued to know your strategy

[@SumanPaulDoc]

It does not help with your salary related tax savings. However if there is an alternative income source( most doctors have private practice )outside salary then it goes to the limited company.usually they will only withdraw a small salary or pay a salary to non earning family members.I don't know the exact details as I have never done this myself. We have specialist medical accountants for managing this process.

[@zakaha]

⁠@@SumanPaulDoc Yes LTD company and paying an in earning member while drawing a small tax free DCA.

[@ranjeetjaswal9005]

Btw 1 CR salary is not enough in India as well .

[@n-xf5bj]

Hi Sir ! Do you think it was worth it after doing MD Chest medicine from india and then do training in the UK for this many years ?

[@abhisekchakrabarti6778]

The video is really eye opener. Need your advice in few places. I am staying in UK. If you please provide some link to get your opinion

[@SumanPaulDoc]

medsolutionuk.com/services You may book a 1:1 session here

[@abhimukh1937]

What about the number of hours you work in India vs UK, I will take Europe and UK anyday. Tax in India is equally high.

[@shivz789]

Not really my friend.. don’t know what you have till you loose it.. people earning that much do spend similar amount of time in those jobs. Yes you get the weekend off but I’m sure that too is usually occupied with work related stuff… with great earnings come great responsibility no matter what country you are. Take it from someone who left India 20 years ago and now regret leaving Indian passport. Desh ki mitti aur freedom something else. Now I’m na ghar ka or ghat ka neither fully accepted in uk as a Brit nor fully accepted in india as an Indian. System is a trap .. pound value will keep you here in rat race but quality of life has really plummeted in uk lately.

[@wilfcarol2940]

Hi doctor im currently awaiting my neet pg result and looking at the rank trends im expecting vranches like ophthalmology ENT psychiatry and anesthesia I wanted to know if mrcp holds value only for medicine branch pg students or branch doesn't matter

[@assholapure]

hairstyle on point sir!

[@TomsPersonalFinance]

Great and informative video :)

[@SumanPaulDoc]

Glad you liked it!

[@mayankchouhan8977]

Hi @suman Paul, very nice and comprehensive video. Can you make a video on what is a safe pension pot(£-amount) for a 40/50/60 year old in todays time. I understand it depends on lifestyle after retirement. But just to give a generic idea.

[@SumanPaulDoc]

I want to retire in India so my own projections are much less than what you need in the UK. This video is really a good one- kzbin.info/www/bejne/iWrcaaeplr9mmJYsi=XaB06aW3QwN-egDM

[@vijayasreek6619]

Yeah and 50% tax also

[@csdekka]

Just wondering, is it not worth investing in emerging market like India rather than UK or SMO 500 where average growth is 11% yearly. I understand long term capital gain but still money will grow much faster. I don’t thin it makes much sense to invest in pensions as the growth is slow and the money is only available after 68 years.

[@SumanPaulDoc]

The returns that is needed to match pension benefits(inflation linked income for rest of the life) will be much higher than 11-12% CAGR. The NHS pension pot will never run out of money

[@csdekka]

@@SumanPaulDoc thanks but if we think to work till late 60’s it’s fine but if want to retire early, it might not work. I had given a long thought on it and decided to stop putting money in NHS pension but yes, I wasn’t on 100k salary. Reflecting back on the decision, I think I am much better off and it gave me the power of liquidity.

[@drbhavananarravula]

Sir i want to know if being an MD BIOCHEMISTRY RESIDENT, will cracking MRCP be any help for my private or corporate practice in india? Please guide me through this.

[@SumanPaulDoc]

Yes, it will help

[@avijitshoma]

If someone earns morethan 100K , he can optimise his/her tax liability by contributing in SIPP. Only area one need to take care that not to exceed Pension Lifetime Allowance (LTA). Although LTA is abolished from 6th April 2024 , the labour idiots are trying to bring back the regulation. Current UK regulation discourage savings and we will continue to see NHS consultants taking early retirement as their final salary pension pot brusts LTA.

[@sudiptasworld9138]

After completed md can I apply for mti without postgraduated experience???

[@SumanPaulDoc]

MD experience is enough for MTI

[@vandanap7611]

Informative

[@satyapallay7596]

Hi Doctor, can a skilled worker visa holder open a limited company. And can you please suggest a good accountant.

[@SumanPaulDoc]

I dont have any personal experience for using accountant or opening limited company. You may use websites like- www.unbiased.co.uk/

[@satyapallay7596]

Thank you very much😊

[@AnjanaMathur-d3l]

Kindly suggest app to invest in UK stocks

[@SumanPaulDoc]

I use investengine.Here is a detailed video. kzbin.info/www/bejne/boLOiZefjrxgrJI

[@purnimamukherjee6105]

What is the scope of radiation therapy or radiation oncology specialists from india in uk

[@SumanPaulDoc]

Small speciality, not much jobs unless you have CCT

[@sadasode6735]

Why not come to US, family physicians or even dentists make way over USD 300k, specialists easily cross USD 500K, surgeons easily cross USD 1mil. Right profession wrong country......UK. You can hire your own fulltime nanny then.

[@SumanPaulDoc]

US needs a separate licencing exam. Also I wont have the same leverage in getting jobs at premier institutions, like I do in the UK.

[@zcnaipowered7407]

US has the expat tax, in other words even if you immigrate from the US you still have to pay US taxes till you die

[@sadasode6735]

@@zcnaipowered7407 Whats the problem with paying taxes.......in terms of earning potential we are not even talking in the same league here. UK £100k = $140 k thats not even close to $500k what specailists make in year in US. This is just Mid-West estimate. If my earning potential is trippled or quadrupled I will gladly pay more taxes. As the vlogger mentioned, I believe problem is switiching country is like embarking on journey of certifications and starting from scratch.

[@somipro]

EVERYTHING LOOKS ROSY FROM OUTSIDE BUT WHEN IT COMES TO NUMBER CRUNCHING .............Its NOT worth coz my family lives in US ...number won't tell real picture and I work in AUSTRALIA as Doctor; Australia was amazing pre covid period was like a gold mine but NOT any more

[@A_Sen_0]

@@somipro Come to india & earn 1k £/ month & after tax & living cost save = 500£/ month U will experience the fun😂

[@deep232]

Run from UK comming few years will be worst.

[@vincentjohn5678]

Why?

[@ShaMama-oe1oq]

nice one hope you're the first one.We have been in UK forever so you are one of those jealous inhabitant of a deprived culture

[@ShaMama-oe1oq]

m😢

[@arahnsathananthan9683]

100 k is more than enough in the uk 😂

[@kellywalker4494]

It’s enough for a decent life but after 50% tax and £24k in rent you have £26k for living and hopefully saving. It is enough, but we are talking about a doctor here who has studied for many years at great personal expense. I live in Singapore and when I walk through the doctors’ car park at a public hospital the worst car you are going to see is a Porsche 911.

[@arahnsathananthan9683]

@@kellywalker44942k a month for rent ? 😂

[@AshishOnline]

I never knew about this bizzare over 100K trap in UK. Happy in Germany then. I pay a bit less in taxes in Germany viz UK @ 100k EUR salary.

[@gaarn2672]

I know common people who earn 100 crore in india

[@randomguy7175]

Share market 😅

[@kumaram2944]

It's beggars salary😂