This broadcast takes you through the latest announcement from the NHS to help clinicians with the 2019/20 Annual Allowance Change.
Announcement from NHS to Help Clinicians with 2019/20 Annual Allowance ChargeRead More
Understanding the GP Pensions Total Rewards Statement
How using a Limited Liability Company to take over a GP practice can help with risks for the last man standing and succession
About a month ago now, I visited a large successful practice with a number of partners in their 50s, and another partner in his mid-30s. The younger partner explained his anxiety to me that when the other partners retire, he will be left with the full responsibility and the risk of running such a large practice. I visited …
New Plans to Help High Earning Doctors with their Pension Annual Allowance Charge
The Department of Health announced today (7 August 2019) that they will be consulting over a new set of proposals which will give high earning doctors subject to the Annual Allowance Charge flexibility over the amount they put into their pensions. The proposal is that the same percentage of income chosen to be pensioned will …
New Plans to Help High Earning Doctors with their Pension Annual Allowance ChargeRead More
GPs – Working as a Limited Company
Despite recent changes that have made working through a limited company far less attractive than before, many GPs, including recently qualified starting to work in general practice, choose to work as a limited company. The purpose of this article is to give a full explanation of how limited companies work and if they are appropriate …
VAT for Primary Care Networks Explained (Podcast)
Client Services Partner, Katie Collin, spoke to the Ockham Healthcare team on their recent podcast to discuss all things VAT. Katie covers who needs to be registered for VAT, what services incur VAT, Cost Sharing Groups and the VAT implications of the three models for PCNs. She has also produced a frequently asked questions document …
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. …
Don’t Worry About Hard or Soft Brexit – Think About Hard or Soft GP MergersRead More
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 …
Tax Advice – Sorry – Information About Tax and PensionsRead More
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 …
What Lorraine Kelly Can Teach Locum GPs About Tax and IR35Read More
