SUPERANNUATION AND PENSION
Navigate through the complex landscape of NHS superannuation pension.
Superannuation and pension advice is extremely important in the medical field. The finances of GPs largely depend on the funding provided by the NHS. However, a myriad of rules and restrictions coupled with NHS superannuation and the UK pension scheme makes it complex to manage without the support of a knowledgeable accountant.
Ramsay Brown specialises in medical accounting. Our professionals have aid GP practices in navigating through the complex and evolving landscape of NHS superannuation pension. With our assistance, our clients are able to make effective annual estimates of pensionable profits and avoid penal charges in the pension scheme.
We help GP practices make the right choices by offering advance information on NHS superannuation pension issues, such as:
- Problems with pension growth
- Allowance limits
- Alterations in the tax regime affecting the pension growth
- UK pension scheme tax liabilities
- Whether extra hours impact the tax
What We Do:
- We ensure your NHS superannuation pension interests remain fully protected, while reinforcing the finances of GPs.
- Our expertise enables you to know annual estimates of pensionable profits and count which superannuation deductions are right for principal and salaried GPs.
- We are aware of the superannuation shortfalls or refunds.
- We receive pension certificates, including Type 1 and Type 2 yearly certificate for pensionable profits.
- We check to ensure your pension scheme and superannuation deductions are accurate and you can seek tax relief based on that.
- Our team updates and reviews the total rewards statement and ensures there are no discrepancies.
- We review annual allowances and find out tax liabilities to suggest strategy to minimise your liabilities.
- We help you understand the lifetime limit in the event of a protection application.