This broadcast covers the ‘balancing mechanism’ for GPs pay, updates to Covid support to business, Xero updates, tax updates and more.
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 …
Are Your Locums Taxed Appropriately?
The changes in April 2017 in which the GP practice became responsible for the correct tax treatment of locums does not seem to have changed the position of many locums who still claim to be self employed but on closer examination might be better described as employees of the practice. One of the reasons for …
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 qualifieds 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 …
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