Category: Money Matters

Financial news and advice for GP locums on tax, pensions, IR35, superannuation, self assessment/self-employment, rates and fees from specialist accountants, financial advisors and the NASGP.

Why inflation hits GP pensions harder than hospital doctors’

GPs have a career average revalued earnings system that uses the dynamisation process to account for inflation.

NHS pensions

‘National scandal’: MPs call for NHS pension overhaul

GP pensions are a ‘national scandal’ and the Covid-19 admin suspension should become permanent, a report by the Health and Social Care Committee warned.

NHS pensions

BMA granted judicial review into NHS pensions

The BMA can undertake a judicial review into the ‘unlawful’ handling of NHS pensions, Pulse reports.

NHS pensions

How inflation affects GP pensions

Tori Ferguson on how the rising cost of living affects the NHS Pension Scheme.

NHS pensions

Capita gets three more years on GP pensions contract

Capita has secured an extension to keep delivering PCSE pensions services until 2025, Pulse reports.

NHS pensions

GPs at risk of £33k pension bill, advisor warns

A GP could face an charge of almost half their post-tax income, Dr Tony Goldstone warned last week.

NHS pensions

PCSE under review ahead of 2025 contract expiry

Nearly 20,000 errors may affect NHS England’s assessment.

NHS pensions

How 2022 annualisation affects sessional GPs

What if payments have been made at the wrong rate? All the advice sessional GPs need on annualising income.

Money Matters

Ten-week Locum Form B rule to restart in October 2022

Locum B admin holiday comes to an end.

Money Matters

Ten common questions about GP locum pensions

Essential info on Locum Form A and B.

NHS pensions

How the Spring 2022 statement affects GPs

Honey Barrett summarises the key info GP locums and salaried GPs need to know.

Practices ‘should not pay “pension included” rates’

Practices that pay a rate inclusive of pension contributions ‘shouldn’t be doing so’, specialist medical accountants advised this week.

NHS pensions

Pension Scheme contributions for NHS locums

While pensioning your locum income sounds simple enough, you do need to understand the rules to avoid some potential issues, write Liz Densley and Abi Newbury of Honey Barrett.

NHS pensions

GP Type 2 deadline extended

PCSE has pushed the deadline to 7 March.

Accountancy

Salaried GPs should get 2% uplift, DDRB advises

Salaried GPs could get a pay uplift of 2% for 2022/23.

GP pension changes delayed by six months

On 1 October top rates will fall from 14.5% to 12.5% over the course of two years, reducing contribution costs for GPs.

NHS pensions

GPs compensated £1.5m for pension errors

Dr Richard Fieldhouse, NASGP chair, said: 'The biggest issue that the NHS faces is the welfare and resilience of its workforce, and a properly administered pension scheme that is simple to use and access will go a long way to supporting that.'