The imminent creation of Primary Care Networks which in turn will be expected to expand into larger organisations in the future, will place some GPs into the nature of organisations with which they may be unfamiliar. My own experience so far is that a number of PCNs will be looking to work with their local …
Don’t Worry About Hard or Soft Brexit – Think About Hard or Soft GP Mergers
The current preoccupation with Primary Care Networks will encourage some practices who will be working closely together to consider merging together. Last week I visited two practices, one PMS and one GMS, to help facilitate the merger by looking at each practice’s finances. One word of warning – mergers are not always a good idea. …
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HMRC Changing the Way GPs Claim Their Personal Expenses – and Changing Their Mind – Phew!
by Laurence Slavin, Partner For as long as I can remember (30 years+!) GP claim their personal expenses as a deduction from their profit share outside the practice accounts. To explain – let’s say there are two partners sharing profits equally and profits are £100,000. Partner A has personal expenses of £5,000 and Partner B …
HMRC Changing the Way GPs Claim Their Personal Expenses – and Changing Their Mind – Phew!Read More
Tax Advice – Sorry – Information About Tax and Pensions
by Laurence Slavin, Partner Visited a high earning GP today. Still in his 40s, he has already exceeded his lifetime allowance, and has an annual allowance tax liability every year. So why, I asked him, has he taken no action. Is it because he is committed to get the maximum NHS pension at retirement or …
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What Lorraine Kelly Can Teach Locum GPs About Tax and IR35
by Laurence Slavin, Partner HMRC’s IR35 campaign which is designed to push individuals into employed roles rather than self-employed suffered a rather public defeat yesterday with Lorraine Kelly, the television presenter winning a case brought by HMRC. The judgment is interesting…..”for the time Ms. Kelly is contracted to perform live on air she is public …
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Unintended Consequences of the Clinical Negligence Scheme for GPs
by Laurence Slavin, Partner Visited a large practice yesterday who have a mixture of salaried GPs, some of which have their indemnity payments paid by the practice and others who receive a higher rate of pay and pay the indemnity themselves. The welcome reduction of the indemnity costs now creates a division as those with …
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Final Pay Control – A Nasty Charge for GP Practices and Employers
by Laurence Slavin, Partner Unlike GPs whose pensions are based on their lifetime earnings, GP staff have their pensions based on their final year’s salary. You might see that there is an opportunity here to hike up the salary of good and loyal staff in their final years, which will reward them with a larger …
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An Interesting Chat About the Use of Companies for GPs
by Laurence Slavin, Partner Last week I visited a client who had attended a course in London last year in which the speaker, an accountant, asked the audience why they were not all practicing through companies, and paying just 19% corporation tax. The audience were sold, and my client was irritated. Why hadn’t I told …
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