Before a doctor enters general practice, they will be accustomed to receiving a salary and a payslip detailing deductions for tax and national insurance. This is referred to as the PAYE (Pay-As-You-Earn) method of income tax collection. However, most GPs are self-employed, although salaried GP posts are becoming more common. So, if you start as a GP principal it takes quite an adjustment to receiving a cheque of differing amounts each month according to the profits of the practice which is a small ‘business’. The cheque is a gross payment and it is advisable to save 40% in a high interest savings account for a tax bill which is in arrears and also for national insurance payments. The local PCO or Health Board deducts a proportion of your payments as superannuation and so a monthly contri­ bution towards your eventual pension.