An integrated approach to navigating the NHS’s ever-changing financial landscape.
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
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 …
Tax Advice – Sorry – Information About Tax and PensionsRead More
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 …
What Lorraine Kelly Can Teach Locum GPs About Tax and IR35Read More
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 …
Unintended Consequences of the Clinical Negligence Scheme for GPsRead More
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 …
Final Pay Control – A Nasty Charge for GP Practices and EmployersRead More
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 …
An Interesting Chat About the Use of Companies for GPsRead More
