Planning for tax year end
As we approach the final months of the 2021/22 tax year, it is the perfect time to consider whether you have made the best use of your tax allowances available, as these can save you thousands of pounds each year.
Healthcare news – Winter 2021
In our Winter edition of the Healthcare newsletter, we delve into what reliefs are available that can save you money before 5th April, the tax traps you need to be aware of when gifting, the benefits of outsourcing bookkeeping services, how to tackle rising costs and finally, what NIC rises may mean for your practice.
It's good to gift, but be aware of the tax traps
Gifting can be a great way of passing on wealth to your loved ones as well as reducing the value of your estate for Inheritance Tax (IHT) purposes and general estate planning.
Is your finger on the (financial) pulse?
We already know that cloud accounting provides many benefits such as accessibility to financial data almost anywhere, elimination (or reduction) of paper, readiness for Making Tax Digital, and with correct set-up time saving due to automation of repeat entries.
How to tackle rising costs
Over the past two years, practices had dealt with a lot due to the ongoing pandemic and focusing on the running of a General Practice may not have been high on the agenda.
What NIC rises may mean for your practice
From 6 April 2022, the rate of national insurance paid on earned income is set to increase by 1.25% as part of a package of measures being introduced by the Government to fund the costs of social care and the NHS.
National contacts
Laura Clarkson Managing Partner Scotland – Head of Healthcare
Nicholas Nesbitt Partner - Financial Planning
