The school fees have finished.Why is the Thursday clinic still in your diary?

Imagine a consultant who started an extra private clinic on Thursday evenings ten years ago. Two children were in private education, and the additional work had a clear purpose.

Now the final school-fee invoice has been paid. But Thursday evening looks exactly as it did before: the same appointments, the same late finish, the same assumption that this is simply part of the working week.

There may be good reasons to continue. The consultant might enjoy the clinic, value the patient relationships or want the income for something else. But the reason for starting it deserves another look. A working arrangement can outlast the commitment it was created to meet.

What you would actually be giving up

Suppose the clinic generates £70,000 in annual fees. That is turnover, rather than £70,000 available for the family to spend.

Where the work runs through a limited company, practice costs and Corporation Tax affect what remains. Taking money out can involve further personal tax, depending on how it is paid and the individual’s circumstances. Some profits may stay in the company to support future plans.

The relevant calculation is the difference stopping the clinic would make. Some overheads may continue even without that session, so the saving in costs needs examining alongside the lost fees.

Ask the accountant to establish the effect on company profits, then consider how that would affect household income and future savings. Giving up turnover and giving up spending power are different things.

What the income still needs to fund

Finishing school fees does not necessarily mean the family’s financial commitments have ended. University costs, a mortgage or support for relatives may still matter. The consultant may also want to build a larger reserve before reducing work further.

Assess those needs against remaining NHS and private earnings and the resources already built up. Establish how investments and company assets could support future spending, allowing for tax and access. Include NHS pension benefits from the dates they could realistically be taken.

Then compare keeping the clinic with stopping it. Does the change affect everyday spending, the intended retirement date or the support the family wants to provide? Would the plan remain workable if spending were higher or investment returns lower than expected?

The answer may be that the income still matters. It may also be that the session adds to wealth without changing anything the family particularly wants to do.

The value of a free Thursday

Count the time as carefully as the money. A clinic can involve travel, preparation, correspondence and follow-up beyond the appointment hours. Establish which demands would actually disappear, and which would remain.

Then discuss the alternative with your partner. A regular evening together, an interest that has repeatedly been postponed, or simply a less crowded week may be worth more now than it was ten years ago.

There is no requirement to fill the time with another achievement. But it helps to picture what would improve, rather than considering only the income you would lose.

Make a fresh decision

Keeping the clinic is a legitimate choice if the work remains satisfying and the income serves a purpose. Reducing its frequency or moving it may offer a better balance. Stopping may make sense if the financial plan supports it and the time has a more valuable use. Any change would need organising around patient care and existing practice commitments.

Being able to stop and wanting to stop are different questions. Understanding the financial position gives you room to consider both.

The original decision to run the extra clinic may have been exactly right. The question is whether that same decision remains right today.

The scenario and £70,000 turnover figure are illustrative. Tax treatment and the implications of changing work depend on individual circumstances.