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perfect. That's a life you guys can go ahead. So, um, let me introduce Scioscia. He's going to be talking about a slips and income tax day. Thank you so much for joining our Webinars every week. It's absolutely being amazing. I think this is our most popular webinar yet, unsurprisingly, because every single webinars being better and better and better and we have more and more people, So we're looking forward to lots and lots of great questions were looking forward to lots and lots of information being shared about peace. It's attacks, which is absolutely essential for the doctors for healthcare professionals. So what I'm gonna do is I'm gonna put it over to James, who's gonna tell us about all of what happened today. Okay. Thank you. Okay. Um so, yeah, this evening's webinar is going to be on pace. It's an income tax on. We're also very lucky to have a guest speaker who's gonna be talking about selecting some stocks on. I think by now you probably all know doctors are actually who is a qualified chart accountant. Well, that was a while. I want Doctor starting in the Oxford scenery. I'm not proud to introduce our sponsor, Wesleyan. We're gonna do a brief talk before we begin. So, Christine, over to you. Ah, thank you so much. We are absolutely delighted to be able to sponsor this evening, so thank you very much. And I just wanted to say that I'm hoping my colleague Andrew Croft Taylor is gonna be able to join me. He's one of our financial consultants and Wesleyan provide specialist financial advice. So I look after you while you're a student, and then when you qualify, we pass you on to one of our specialist consultants. And so if there's any questions we can answer, please don't hesitate to get in touch. What I'll do is I'll ask James to kindly put my contact details in the chat and also the one little heads up for a little final. Your students who are joining us this evening as you know, Wesley, and do your final year photographing this year, we're doing it virtually so. The knee jewel to submit yourself is by 12 midnight tomorrow night. And so that's for all the final your students. And again, I'll pass on the link for that and enjoy your evening. I know I'm very much looking forward to it. All right. Thank you, Christina. Um, so, yeah. Just to reiterate, I will be keeping an eye on the comments underneath the videos. If you have any questions for SIRA or a broom or Christina just post in there and I'll be relying them on, hopefully you'll get some answers. Last few weeks, we kind of really nice kind of back in course, actually. Had some really interesting questions or provoked bit of the discussion. So please get bowled on over to you, Doctor Asher. Thank you. Thanks very much. Thank you, Christine. A a swell. Um, So hello, guys. You probably know me very well by now. I'm gonna be talking about pace lips on income tax today. Um, sorry, but this is what we're gonna be talking about first. So I'm gonna go through the pace, live with you. No matter where you work in the UK, as long as you're legally working, you'll receive a PE slip on a monthly basis telling you exactly how much you're gonna be paid. So I'll talk you through exactly what that looks like. And what kind of information you want to make sure you look out for, Then I'm going to talk to you a little bit about the tax codes that we use that, um, Teo tax you so he hmrc uses different types of codes on. I'll tell you more about that. I'll tell you about income tax in general and how it works for personal tax accountants in this country. And I'll tell you about national insurance contributions. This is me, um, new picture. Thank you. Um, I'm, uh but start my my one in the Oxford denarii on general surgery. I got my rotor. Today. It's marred. Um, Andi. Yep. Let's just jump in straight into it. So, first of all, the pace lip, you'll receive a pace lip once a month or more frequently depending how often you're paid. But it's usually once a month on is usually available a few days around a week before you're actually paid. Um, at the moment, the most common way um, it's done is that you, ah, access your pace lip through. Yes. Are, which is an online system employees service, Something resource. I'm not sure I need to check that, but it's done through, um, online program called Yes. Are on you get a pdf on. You can download that. Pdf on keep a copy, which is very important. Keep a copy of all your pace lips because, um, you might need to show proof of earnings. When you're applying for a mortgage, for example, they need to copies of your pace lips for the last three months or six months. Um, various other applications, like rental, also need copies of your pace lips, so keep a copy of them if you don't get paper copies. Paper copies are a bit of a half to keep. So actually being able to get online and pdf is absolutely brilliant. So this is a paste. Look, this is not the page will be going through. Don't worry. It's just to show you just how much information one pay slip can hold. It's got lots of lots of information on it. Lots of important numbers you need to make sure are correct. If not, then you need to get in touch with you in a jar or a gym are see, um, and we'll go through each bit one by one, so we're going to split it up. We're gonna start with hot one will keep going through, um, and then that way you kind of deconstruct the pace lip and you understand exactly what it's telling you. So first of all, part one part one is just your identification part. Make sure that your assignment number is correct. Eso that assignment numbers on every single pace. Lips. So if you ever need it, that's where it is. That's where I usually tend to go If I need mine. I'm not really memorized mine. Um, make sure that your band or banding is correct or where you are on your payscale because that's a hey jar issue of It's not, um, again, the base salary will be your salary or wage. Um, you'll, um, national insurance number will be on here is well, so if you ever need that, that's where your national insurance number is easily accessible. And then, most importantly, it will tell you your tax code. Now, tax codes. I'll tell you a bit more about it. Um, very, depending on how many jobs you have, um, whether you have a national insurance number already, whether the company or the hospital you're working for has let hmrc no, what's going on. So that's why we're going to look at the tax code in a little bit more detail because based on the tax code, that's how much HMRC decides to take in tax as part of your income tax on. It's really easy for them to take the tax. It's a bit of a fun and games trying to get it back. You will get it back, but you need to jump interviews off to review. So the sooner you get your tax code correct, the better it is for you will be easy sailing from their own words. Heart tube. So this is actually very important. This is exactly what you're being paid for, so your basic pay is based on the number of hours that you've been doing. So if you if you use time sheets, then it will. It will show the number of hours that you've been working on your time sheets. As junior doctors we won't be using time sheets will be sort of paid on a salary or a wage basis. So just sort of check that you're you're about being paid for the right amount of days that you work at month again then you've got night duty. S so that's the amount of nights you worked on. But that's based. That's again the hours that you've worked. Um, so just make sure that the number of nights you work, that's up to what they're saying in your PE slip number of weekends. So here they split out Saturday and Sunday, which is really useful. Sometimes they don't, and it's just called weekend. Um, so make sure that they all match up with what you've been doing that month because any discrepancies you need to action straight away. It could be really slow to get any query sorted out. Eso The sooner you can pick it up, the sooner you can. Hey, John. Oh on they can try and rectify it for the next two pace. That wt d means work to date pay. Um, Andi, that's ah, little bit extra if they have to give you. So this one is meant to be like a holiday paid that's been accrued. That's usually people who are working on a time she or like a zero hour one tract. You're unlikely to get something like that in, um, you know, normal salaried profession. Um so that spot, too? Part three. Now this tells you your deductions. There are going to be definitely three deductions. The top three and then you have a bit more, depending on if you've taken in opted for some extras. So Pa y e stands for PE as you turn. It's the system, the hatred Marcy so that Her Majesty's Revenue and Customs These are our tax people. It's the system they use to collect income tax. At the point you're being paid that way, you don't have to take the money, fill in and tax return and then pay them separately. It's all done before you get paid. Then it's NIH national insurance. And that's, um, your group A. There's two groups and B Groupe most people pick into B is for self employed people, so that contributions a rub it different, so we'll talk about National towards in more detail. But then those deductions have made there, and then you do you any chest pension deductions? Um, I'll talk a little bit more in terms of just how much is deducted, but I'll be doing a session dedicated to pensions. Ah, bit later on, which will explain the pension scheme on what happens with your deductions and things like that. So don't worry. I will cover that in a lot more detail, a different session. So those three will be for definite unless you opt out off the NHS pension scheme. Those who will definitely be deductions on your pace lips on then any other extras, which is sort of the example given here, is called parking. Other examples include childcare vouchers or a car leasing. For example, Um, these are all called salary sacrifice schemes on. It basically means that you're paying for these things from your salary before your salaries paid to you. So some of them benefit from, um, it's deducted from your salary before your taxes calculated so you don't actually pay tax on the money that you're paying for particular services. So, um, Carly sing, for example, can work that way. Um, so these are called salary sacrifice games. The different ones were different trusts, and you'll be told all about them and they get deducted a swell from your pay and then part for now. These have all the terms that are a little bit specialist. So, for example, your gross pain is your pay before tax. So you're gross. Pay is your Here is your full salaries before taxes applied. Um, your and I letter here is a, um Like I said, you could be either a or B, um, on where it says and I pay, um, that is the salary that the and national contract national insurance contributions of Calculated on. So, for example, if you're doing, um, if you have sort of increments or special bonuses for academia, for example, um, they might know attract another insurance contribution, um, on them. So, for example, you're gross pay might be different from your and I pay. Um, basically, when I pay is the pay with which they calculate your and I contributions. And then you and I contributions air in the below, our below the actual figure for it. Pensionable pay is, um so, like, as you can see here, the pencil pensionable pay is actually different from the gross pay. Now, the reason for that is that if you use a salary sacrifice scheme, um, your pensionable pay is based on the money. After that, money has been taken out. Your pensionable pay is also only on your base salary. So if you get extra money for nights and extra money for weekends, you're not actually paying a pension contribution on the on that money. You're only paying a contention contribution on your base salary. Um, on. So then that tells you a bit more about taxable pay. Taxable pay again is a different figure, because in this country at the moment this year we have a personal allowance, which is tax free, off 12,750 lbs. So the 1st 12,750 lbs that you learn is tax free. After that, you stopped paying income tax, which is why that taxable pay figure is lower than your gross pay figure, because it's removing that amount. Um, so it tells you a little bit about, um, what tax you paid so far, what your pension contributions have been. Um, how what date? It is what your pensionable pay is for the period. So when it says period, it refers to the actual month. So the month, too, which the pace little rivers year to date, It means for from the from April, because it's based on the Taxotere, so year today is how much you've been paid, how much you've paid so far in tax from April off that year. And then the period was close to that month specifically, so you can see your total taxable pay based on the month your total payments. You told your deductions based on that month. So the net pay that big figure in the box is exactly what's gonna hit your bank account. That's the figure that you can base your day today. Outgoings on. They're the ones that that's the actual cash you're gonna be receiving in your bank account. Okay, So if you have any questions about those and please do just drop them in the child, happy to go through them. So we'll just talk a little bit more about tax codes now. So your tax free allowances I mentioned is 12,750 lbs to figure out what your tax code should be. You dropped the last digit off the personal allowance and you born L at the end. So your tax code this year should be 12750 l. Um, last year it was 12,500 so the tax code was 1250. L um, So that's how you figure out your your tax code pretty quickly to make sure that it's a correct tax code. It should be 1275 l It can be a little bit different if you are reclaiming the income tax on GMC fees or society fees exam, please. Which will go through that a little bit later. But if you are reclaiming the tax on that, the hatred Marcy, rather than refunding it to you in like a check or do your bank account, it amends your tax free allowance so that you just don't pay tax on that amount of money and it adds it onto your tax code. So, for example, say you've got 50 lbs worth of income tax that, um, your do or that you shouldn't be charged on it can add that 50 on to the 1 to 750 Teo make it, um, I think it's 13 to five Um, el, so it will change your tax code to update it, based on how much you should be taxed on. So your tax really owls. Congar oh, up to make up for the money that you've been paying to the GMC two examples in society fees now popped here Emergency tax because and that ends in either a bee or a T on. That is in case he hmrc doesn't actually no, what they should be taxing you. This could be because of the trust you work you're working for. Hasn't updated them properly yet. It's possible that you have another job on your swapping over, So there's a little bit of, ah, um overlap in terms of what you're being taxed on. As a result, you're being taxed a little bit extra because the hmrc a worried the, um you might be making money elsewhere and they might be missing out on tax. No, that does a good thing in a bad thing. Um, the bad news first is that if you're being emergency tax on the hatred, Marcy, that is a is a dated you're going to be emergency text 20% um, of everything that you're earning, which means that that you're losing that 12 7 50 tax free allowance. Um, you're paying more tax than you actually need to. The good news is, though, when HMRC are updated as to what your situation is, they refund the tax, the excess tax that they've taken. They do that either virus check or now they actually pay it straight into your bank account. So, um, the best way to do that let me see if I've done it here. So the best way to do that is to go on to the HMRC website going to personal tax accountant. I've previously said to sign up for a government I d with age mossy, which is, um, going to help you claim that tax back even quicker. And it lets you go see the last 56 years or war, the tax that you've been paying It lets you see what your tax codes are is Let's you see what information HMRC holds on you makes it really easy to identify if there are any mistakes on. Actually, it helps you identify what the mistakes are on, like eight months, you know, quickly. Hmrc respond really quickly as well. Through this portal, it's actually a really, really good system. I'm very impressed with that. So as long as you sign up for a personal tax account with HMR, see, you can look at the information they have for you. You can look at what tax codes they have for you on. Do you can change thumb or through the online boards, or you don't have to wait on the phone for several hours because that's what you used to be like in the good old days. Um, you can just do it all online, which is brilliant. So if you ever have any issues with your tax codes or you ever feel like you're not entirely sure you're being taxed the right amount, I highly highly recommend making sure that you got personal tax online account online with HMRC on Check that first because that might, uh, laser of the fears that you might be having. I'm not my answer. The question for you. So a little bit more about income tax I mentioned. So up to 12,570 lbs, um, you are not text that 0% when the basic rate tax, which is 20% when you are learning any money above 12,571 up to 50,270 is taxed a 20%. Um, then when you're learning the money that you're earning above 50,000, 271 to 150,000. So that proportion know all of it, so they will be zero. Then it will be 20. Then it will be 40 and then 45 depending on how high you go. So, like that proportion of money is being taxed that that particular particular amount. Just because you go into a higher band doesn't mean a lot of money is taxed of the higher amount. It just means that the high a bit is text at the higher amount. Um, on after you start learning a particular amount, you actually completely lose your personal out. One's a swell, Um, so I think that information is on the hate to Marci website, but I'll double check for you what that figure is. Um, so it's based on your The income tax is based on your growth salary, which is the salary before tax. That's what grossology means. Um, after every secretary salary sacrifice deduction is made. So these are your car leases, your childcare vouchers, your cycle to work scheme. These are all salary sacrifice games on the reason these schemes exist is because they're attractive because you're paying for them before you've been charged tax, which means you're paying for them. And you haven't actually paid income tax on the money you're using. So you're getting 20% extra on that little bit of money? Um, no extra. But you're saving 20% off tax on that money, and you're using it for something you'd use anyway. And then, um, you pay income tax on that basic pay, um, on overtime and pay premium eso It's national. So it's income tax just on the basic pay, as in pe A Y e is just on the basic pay on overtime and pay a premium. Unbiased play together, um, is used by national insurance contributions. So not insurance contributions that we go eso It's a flat rate reduction. It's 12.5% on anything you earn over 9.5 1000 lbs. What's The threshold is lower than it is for, um, your personal allowance. Um, and then any money or earning over 50,000 lbs will be taxed a 2%. Um, so it's again. It's just that portions 12.5% and then it's 2% now. The reason you pay national insurance contributions, it used to just be ringfencing for any just. But now the funds are used for different things and the and the justice funded through national insurance, state pension, unemployment benefits, sickness and disability allowances. Um, on. So you need to be paying national insurance contributions for a minimum of 35 years to be able to qualify for a state pension. Um, if you pay less than this, then you might not be qualified for a full state pension. They may do an adjustment, Um, but most people over there working lives would have paid 35 years of national insurance contributions. And that's what is being used to fund the state pension. That's me All done on. It's just a whistle stop tour of pay slips and income tax I'm through. If you've got any questions, please, please ask them because I didn't want to bombard too much information at once. I thought it might be easier to see what your questions are and what level to pick things up. So I'd like to invite my guest Speaker Abraham. We've met him before. He talked to us about investments? Um, Andi, he a second year medical student? A trials university in Prague. He's been investing for since 2016 on, But he's here to tell us about how to, um, select stocks. So over to you, Abraham. Wonderful. Thank you very much. Uh, let me just try to share my screen first before I continue. Yeah, Doctor. So if you could stop sharing your screen, so when it will allow me to do mine. Thank you very much. Weight that with me. But hopefully you can, uh yeah, we can see that. Just need to put it presented. Yeah. So once again, thank you for inviting me back to speak. It's definitely you're on a privilege as doctors. I said I was here about four months ago where I talked about investing as a whole and different hats, investments and Tim, the stocks, property, even artwork with world on. But of course, in the half now, second one, I couldn't go into everything about everything. But luckily, I can now go bit deep diver into the individual types of investments. So I thought, What better way to start deep diving into fingers bent? Start with stocks because the stock market has become, as I said before, very, very accessible to the average person. Um, so let's take a step forward. You know, made you have a count. You deposited some money. Now it's time to find what stocks should I buy? Um, people often confused with one to buy what Even it is a stark. And they tend to go to safe ones that the ankle of Facebook or not, things that their friends have told them or things that they've heard on Internet. When I'm here to share what I do on what I look for, uh, finding a value investment on investment stock. So the way I like to describe a stop or well I look for in a stock is to describe it as a two sided coin where there is a qualitative analysis and a quarter another cyst, um, Andi visitation. I will delve into each one of these what I look for, but before I just say anything, I want to make a clear this thing should once again. But there is a difference between investing on trading. People often get confused between both, uh, but I'm here for investing purposes only, um, I'm buying best thing. I mean, you're gonna buy a star on, you're gonna hold it for minimum on one of two months on, do more and more likely a year, five years and 10 years. So that's the kind of mine said you want to have as well when you are looking for. I stopped by, so let's speaking just delve into the number side. So that's three things here. Market cap, the revenue and the castle of a company on the P ratio. Let's start off with the market cut. What is the market cap? The market cap basically is. That's a coupon. E has to make it simple. 100 jealous and eat One oh shares is valued at $10. Therefore, the market cap of the company is basically what the company's worth on. That will be 100 times be $10 which is which 1 1000 Belmar Kit kat, which is what companies work is what is value. That is one of the first things I look at when I see a company. Generally, a high market cap is a good sign of a strong and stable company on a low market cap is often one off volatile company because, well, you have a high Matic. That company. Yes, a bit harder for the price to change dramatically. What I mean by that? If we take Accolate, for example, it is a $2 trillion company. So if somebody ball one million shares of Apple, it wouldn't sway the price of Apple too much compared to if a company was only worth $50 million. Been a one million by cause. A bit of a dramatic change in the shop price. What's the first thing anymore? Look at as a matter of the company, Um, and then the rest We'll follow because you've been ask yourself, Is the company worth this market camp? Is it worth this evaluation on the way? I like Teo. Uh, see if it is, it's look at companies have never knew. And Kaslow that's what it's all about. If a company is making money, is not going out of business one. As I mentioned earlier Apple, what's good example to go for? So that is a huge role in Dollar Company, as I said now, has it got the revenue and Kaslow to back it up my opinion it has. Why is this? Well, if you look back to Court one, which is the first three months of the year, they reported $100 billion um, in a revenue, which is, like, happening the largest ever to be reported by them on by what the companies back Give me. Give me a strong hope. Okay, to this to $20 valuation is kind of worth it have in a cast. Low caste flow is basically how much money it's giving them out of business. Has it? Has it got enough money in the bank to pay any best, for example? And if it has, But that's another surefire sign for me to take off in my box. On The last thing is a look for is something called a PT ratio, which basically means priced earnings ratio, which is kind of what I just described. Pill you're on, Which is where, um, the price of the complete evaluation on its burnings, eh? So that's kind of that kind of a job before you on. Generally speaking, you want a company's P E ratio, in my opinion, to be around 15 to 40. That's an ideal number was basically means the company's evaluation is 15 times higher than, um, it's burning. So that's the first time calling I look at the next side, in my opinion, is equally important. Um, Mrs Girl, Future and hyper so for growth and go from future kind of, um, had hand in hand. You have to look at a company, and you have to just ask yourself the question. Is this company going to be headed five years time? Is it gonna be here in 10 years time? And if the answer is no 100%? Yes, but that's kind of a warning sign for me. Uh, So, for example, back to apple is up. We're gonna be here in five years' time. No, the almost naps. I guarantee it. Absolutely. Is there gonna keep making I feel want to keep making mat box? I'm gonna keep making lots and lots of money. But then if it cuts a lot of complaints uh, example electrical vehicle making company. Is it a new SERM Sector that's going very fast on? Is it gonna be him in 10 years time? You know what? It absolutely is. Electric vehicles are gonna be the future, uh, as you become more equal family. Um, so that's one thing Have to factor in as well. Is it gonna be here in the future? Um, on Leslie, I mentioned hyper height has has been quite a bit of a, um, turning point this year. In its importance there, many, many stocks this year have rocketed, too. Unreasonable highs, all based upon higher. I think the best example came on to the news as well was a game stop. Uh, this is Mrs uh if you look at the number side company, it's completely trash. Book. The height around it has become so, so big. But it drove the share price to ridiculous highs and cause Lots of people have a well, I including myself, to make a decent amount of money. However, it's important to know about High dies up, it always dies out. It might be in a month. Might be six times book. Both Rarely it will last a year, two years or five years. So that's something the factory, um, I generally have no qualms of anybody wanted to get into a hype stock. Um, but just to be sure to have a strong game plan of how to handle one of these hives stocks, which I will mention in hopefully a future, a future video where I talk about different exit strategies. Um, when you buy it after you bought stock, so I don't have time to have a few examples of what I mean, uh, what I look for, uh, So let's take this company, for example, which is this is, uh, Coke, Coca Cola. Um, before the first family. My mind. Okay, the brand image. Brandon, which is strong. Everyone knows what it is. Is it gonna be here in 5, 10 years? Time absolutely. Is. The next thing to look at is the market cap over here, which is about $234 billion with a higher market cap. Um, pear to most complete. Um, Now, let's ask us off. Is it justified on More often than not, just a simple certain people will give you the P T E ratio, which basically a said earlier world talk about price of earnings. You after two. Most research into that. And as you can see here, it's about 32.55, which is in my, uh range off between 15 and 40. Um, so when I see this stock, I'm gonna buy it. It's gonna be a yes. For me is actual number two with company is pollen Tear Technologies. Um, this company recently became listed on to the store market about a year ago. Um, on bless. Little less that. Let's let's look at it. This market cap is 50 billion. A decent sized market cap. What appeared to be ratio is not mentioned here. So therefore, we should do some research on upon that For research. I concluded that, um PT vacio waas in my range. So that was the number Scientific cough. Then I have to ask about the qualitative side. Is it gonna be here in the future? So what What is this company? This company is basically to something up. It's a company that helps for the companies save money. And I look okay, So what customers? Their best customer is the US A, uh, government on Amazon. Eso pretty good customers toe have I've been asked is gonna be here in the future. In my opinion, it absolutely is. So this one would also be a by from may. Lastly, is a company called a Thomas Pharmaceuticals. Uh, first thing to note is the very low market cap. What? What does this mean? It means it's volatile. A second see is increased on this image. 10% and a day, which really high. Um, compared to all the stocks like apple, which includes 2% on a day, Um, as rich. So here is 10% that that means it's quite volatile. Okay, the PT ratio is not even mentioned here. And when you go in to favor research, you will find out what a company belly has any money in the bank, and it's not made any sales. Why is this? This is because this is one of these, um, medical status companies where they are developing something that once it's been losing to the market, will make them lots of money, which is a company that wound. You can't do much numbers research on there for you have to do some, uh, a positive research on on this one. For me is 50 50 stock to to I'm gonna pass or by in this regard, I will give it a pass. Um, for me is far too risky in terms off. It's quite far away from any put. It releases no money in the bank. It can easily become banquet. And I lost my money. So hopefully this week, some calls make some further sense. Any questions? Definitely. Ask them in the chat. Um, that said here on my neck slide here, you can see our instant around for files where we have over 150,000 followers combined where I'm post with my friend daily on different types of stock. So by we don't know research for you and it's they're available. Uh, you do have a look. So I think that's everything from me, uh, thank you very much. And I will headed back to James and Cyber who could delay any questions if there are any. Thank you very much. Thank you. I was also. Thank you, everyone. That's that's really insightful. Like I'm never quite seeing the, uh, behind the scenes of actually how people do pick winners and losers in the stock market's Harry. Interesting on dust. Add to kind of, uh, side I was going through before. Um, two things, actually, that, uh, she went through that I have personally found incredibly useful. Number one keeping hold of your pace lips, time shoots. When I worked as an HSA last year, uh, the hospital decided that they had overpaid me by, like, 390 lbs by actually having with the inflammation there. I then went payrolls job for them and recalculated it on. Actually, it was closer to about 50 lbs. So by having that, it is actually safer me a good amount money. Um, and the other thing is, I got a nice email today from HMRC. Then I'd pay too much tax last year. Um, and having already had a ah idea to go on the government website and in about 30 seconds to a minute, I had claimed a nice 240 lbs. I'll be looking for spending later. Run. So let me just quickly switch to Facebook and I will have a look and see if we have any questions. So are you coming in earlier? Well, we're we got quite a few questions. So, um, can one claim tax returns on examining educational courses? I I will feel that one so you can claim tax on exam fees for your for for example, MRCS or MRC pee. Um, you can't claim tax back for courses, I'm afraid. Okay with the answers. That question Ah, next one is from were hammered. Are there any disadvantages if I was to start work without an eye? So So that's national insurance number. Um, so I don't actually believe you can, um yes, a job without a national insurance number. The reason for that is to be able to tax you the, um, hatred. Mossy requires a way of tracking you requires away for the employer to be able to tell them how much you're making on they do that by a national insurance number. You can be given a temporary national insurance number whilst all your stuff is going through on your most likely to be emergency taxed as a result of that, Um, it's it's completely up to you. Um, So, for example, if you get a temporary national insurance number on you are emergency text. As soon as they find out that you have been over taxed, they will refund the money to you. So if it's really important for you to start work before you get the national insurance number properly, then you will be able to get a little extra emergency tax. However, you are unlikely to be able to officially start work. Um, legally, without a proper national insurance numbers, you might need a temporary one. Personally, I'm not entirely aware of being able to work without one. Okay. Thank you. Um, this one, I think, is very bright. Um, So how does that one go about finding younger companies, which may not have a higher market cap, but I haven't sheepish air price and greater room for growth. Right. So this is this is similar example. My example before or a Thomas Pharmaceuticals low market cap. Cheap share price. Um, deaf you some room for growth? This is where it talks about your risk. Tolerance on it. Very individualistic. Everyone has a different type of explosions. Um, when it comes to this time for stocks, if it's high, if you have high, if you if you can be happy, know knowing what's going to happen to the company in terms of it can easily have a 50% decrease in your money within a few weeks. But how about little bit? And companies are on the plus side you can experience 3 to 5 times even 10 times gains in six months. Uh, if the company release is that for the rest of it looks of a big if if the company can get there for the is normally a biotech looked food, FDA in America, which is the main one that always complete go for. And if it passes, Benji, this pays off. Okay, um, more often, vision companies, they do get it passed. Bought. That journey to passing is extremely volatile on many, many people will lose money. Why is this? Because when they see a 30 to 50% drop different Oh, my God. I don't want the whole Let me just sell it right now. I save some money. Um, uh, What you might provide the one the biggest mistakes you can ever do have asked. The only time you will lose money is if you sell at a loss. But if you have a high risk eleven's and your patient enough, uh, that 50 50 lost can generally increase in a few most time about maybe 10% loss, or you might start seeing a profit. Uh, all the time was, but it was a quote. Quote in the market. About time in the market is better than finding birth. Mark it, uh, that's what I've always found. Um So if you want to look at your company, for example, a BMP or their many many of us, uh, ask yourself, Are you willing, uh, first of money and you will not see for a long time, cause more often than not, vision companies may take a couple of years, get two bags off stage. So are you willing to put money in there? But you don't need tomorrow or the day after, And that's the first one. Yeah, I saw. And if the answer is yes, but high def. You have no qualms of anybody calling for one lesion completely. The are cheaper, you'll come by and number of shares, and they are a bit mawr. Um, he's into some people. Uh, it's also important to note that there are many trading to invest in platforms but allow you to buy these big share price companies. Um, she, uh, fractional shares. What does that mean? That means that once you have a court is $100 but you only have $50. You can buy half a share, but is allowed was Well, um, uh, many platforms do offer that it's becoming more more common because not everyone has bladder. Matter of money to buy 10 shares of apple sauce, like $1000. A lot of money. So you can definitely by fractional shares, um, in a future video. Hopefully, when I give I about hopefully we can talk about something called Diversifying A portfolio, Uh, which is where you can put different types of stocks. Uh, your portfolio on definitely growth stocks should complete our part. My portfolio. But they're small heart, my papa. Oh, you're due to the risk tolerance that I have, Uh, for this, I hope that answers your pressure. Um, if know again, try again. Okay. Thank you. Gram of the year. That did answer the question. We have a few more than just come in. So what percentage of your salary is the NHS Did doctor pensions. Okay, that's a really good question. I thought I put, um, a table in the but I must have put it in the article instead. Um, so the NHS has a pre prescribed amount that it deduct from your, um, salary based on how much you're earning. Um, so please go have a look at the article for the exact figures. Um, for us around the 26. 27,000 mark. Oops. When we're starting in in f y ones, we're going to be deducted 9.3% of our gross basic salary. Um, and then this goes up, the more you learn, So at the moment, the NHS deduct it's not the NHS, it's It's the energy pensions game. Um, deduct 9.3% of your salary on puts that in a pot on your the employer. So the NHS then also puts 20% of your salary in the same pot. So actually, they are matching on nearly double. It will actually doubling. Um, your contribution and all of that is going towards the pension pot on. So when I talk about pensions, a bit more will explain where that money is going. But it's not that you're losing that money. If the money is being saved for you for your future. Okay. Ah, next question. Ah, When talking about tax will pay after 12,000, does this amount include pay from work prior to starting. So, like part time work, for example? Or is it only counted after starting a new job? It's all your things in the past year. So from April to April, all your earnings below 12,750 lbs are not subject to income tax after 12,750 lbs, any earnings. That means you could be working in two part time jobs on added together, they go over the threshold. You will be tough. Okay? And then same has asked, Can you claim tax return? Be using public transport to go to work? I'm afraid not. S so that isn't a taxable. Ah, one. So, um, I'm it would depend on the trust that you're working for. I have not personally heard of any trust that do reimburse you for public transport costs or any transport costs. I understand that some trust to do an excess mileage. So, for example, the one at Oxford s a bucking I'm sure at the moment is 17 anything above 17 miles. If you have to travel for work, you can claim back the mileage for that. But that's only because of excess mileage normal commuting to work, normal. Going to your hospitals. You can't claim. But I'm afraid. Okay. Thank you. That's all the questions that I've seen that come through so far. But by all means, if you still have questions, do adamant the comments on the video. We do go back and have a look on. I'll make sure they get a vote. Doctors are a Asher. And we brought him, um, just before I go just to remind everyone a little the only thing that we asked him return for doing the webinars. It's high quality feedback. So I have posted in the comments, Um, a link which you can hollow and just just take five minutes, give us and just detailed stuff that we can use to improve the webinars for. You guys also selfishly use for interviews, portfolios, etcetera. And I hope you enjoy this evening. Cash. Did you have anything you want to add? Weight? Go. Yeah, just a moment. If Christina wanted to say anything and then I will close this session and tell you about tomorrow's webinar. Oh, just a very thank you very much for having us a long. It's been really interesting. Evening on yet just to reiterate that Wesleyan provide specialist financial advice. So please do go on our website. It's our we're very proud of it. It's a swanky new websites to go on, have a look and you can find your local financial consultant and on yet sort to be a broken record. But if you are a final your student, please do submit your final your photo and I'm looking forward to join you again. Thank you so much, Kristine, and say Tomorrow way, have a lovely session on complaints by the MG. It's incredibly popular with over 1600 people who have registered already, and I'm sure that number will grow on its and the reason for that is because it's absolutely essential. Ultimately, all of us. If you work long enough in the NHS, you will get a complaint on Do you need to know how to address it and you need to know how to respond in a way which is professional in a way which is helpful for your career. And so the MG will cover all of that and more say, staying chewed same time tomorrow for a lovely session on complaints once again Thank you so much for the amazing questions. Every week. Three questions on our finance webinars are just absolutely insightful. Awesome. Say thank you so much. And thank you so much. Everyone who stayed until the end until tomorrow. Goodbye. Thank you.