The latest insights and information for healthcare professionals to help you make the most of your Practice and personal goals.
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Listen to the latest Medics Money podcast on IR35 for Doctors
In this update, we discuss off-payroll working regulations, how HMRC's new proposed tax reforms may affect you as a self-employed individual or an unincorporated business, electric cars and their tax implications for the self-employed, inheritance tax planning, and cybersecurity.
This collection of articles will cover changes to the 2015 NHS Pension Scheme, the benefits of cloud accounting, HMRC nudge letters for those who have assets overseas, phishing attacks, Medics Money NHS pension masterclass, and final pay controls.
In September legislation was passed making it a contractual requirement for GP’s in England to make a self-declaration of earnings to NHS Digital if they exceed a threshold of income for a financial year.
With the Lifetime Allowance frozen at £1,073,100 until 2026, even more medical professionals now face the possibility of exceeding their LTA before they reach their retirement age. Many doctors in their late 40s and early 50s will find the value of their pension close to or even in excess of the LTA already, and with annual growth for LTA purposes for many exceeding £50,000, the LTA tax charge...
The 2019/20 tax year saw the culmination of a pension crisis that started with the introduction of the Tapered Annual Allowance (TAA) back in 2016. Please download our documents on the NHS Pension Update for Consultants and GPs.
Christmas has traditionally been a time of year employers have celebrated, rewarded and thanked staff for their efforts. This has traditionally been done tax efficiently by making use of tax exemptions for annual staff events and/or the trivial benefits exemption.
As we approach the end of the second year of Primary Care Networks (PCN’s) and with the prospect of increased funding from the Additional Roles Reimbursement Scheme (ARRS) it is appropriate to revisit the implications for Practices.
The 2015 NHS Pension scheme came into existence on 1 April 2015 with everyone under age 50 at that date transitioning to it. Since then anyone aged between 50 and 53 ½ at 1 April 2015 has also had a planned transition into the 2015 scheme on a phased basis.