Category: Accountancy

Read the latest advice from specialist GP accountants on topics like IR35, pensions, tax and the Self-Employment Income Support Scheme.

Tax tips and tricks for GP locums and salaried GPs

Join Richard Fieldhouse and Tori Ferguson as they delve into the world of tax advice for GP locums in this episode of the Art of GP Locuming podcast.

What GPs need to know about the Spring Budget 2024

Liz Densley on the National Insurance Contribution cuts and child benefit changes that affect GPs.

Accountancy

Getting a mortgage when you work as a GP locum

Carrying out thorough research and having a high level of knowledge in this area is key, as there are a number of mortgage market misconceptions and vastly different treatment between lenders.

Tax cuts predicted for 2024 Spring Budget

Better take-home pay may come at the cost of funding the NHS, journalists warn.

Accountancy

As a GP locum, do I need long-term sickness insurance cover?

Are all income protection policies the same? The blunt answer is a most definite “no”.

HMRC to charge 7.75 percent interest on late tax payments

Plus 5% if the 2022-23 balancing payment is not paid within 30 days, accountant warns.

Accountancy

Video: Starting out with GP locum accounts

Adrian Cousens, director of RSM UK, presented a half-hour event with a Q&A for NASGP on 5 October.

How to avoid overpaying self assessment tax

Don’t pay more than you need to, specialist medical accountant Liz Densley warns.

Managing expenses for GP locums and salaried GPs

Which expenses paid by the individual (not the employer) are tax deductible? Liz Densley and Tori Ferguson explain.

Accountancy

‘Priority’ queries only for HMRC phonelines until 31 January

Taxpayers will receive no support with frequently-asked questions from helplines over seven weeks to the Self Assessment deadline.

Accountancy

More GPs face higher tax bills after Autumn Statement freeze

Despite the abolition of Class 2 National Insurance contributions, more GPs face higher income tax bills, accountants have warned.

Accountancy

Free GP locum accounting talk launched for October

Adrian Cousens, director of RSM UK, will present a free 45-minute talk with time for questions as part of NASGP’s monthly webinar on the first Thursday of every month.

Making Tax Digital project in question as cost balloons

Rolling out Making Tax Digital may be too expensive to pursue.

Accountancy

Two weeks to payment on account deadline

Tax on account is due on 31 July.

Accountancy

Video: Common GP locum accounting questions

Terry Bentley-Darby took questions from NASGP members at our monthly webinar on Thursday 6 July at 1pm.

Accountancy

Free sessional GP accountant Q&A scheduled for July

Terry Bentley-Darby will take questions.

Accountancy

Higher GP pension tiers outstripped by cost of living

Proposed increases bite amid cost of living crisis.

BMA: no need to declare earnings over £156k

Union pushes back on pay transparency.

Accountancy

Lifetime Allowance swept away in Spring Budget 2023

AA raised to £60k, negative growth can be offset and tapered AA now £10k.

High-earning GP locums must publish earnings by 30 April

GPs must declare earnings over £156,000 within the next six weeks, Pulse reports.

How GP locums can prepare for the end of the tax year

Sometimes saying no to a session or two at the end of the tax year can make a big difference, warns Liz Densley.

New BMA advice published on Type 2 forms for GPs

GPs can get extra support with Type 2 paperwork thanks to a new guide.

Video: Self-employed GP locum accounting

An accountant advises how tax and NIC works for self-employed GPs.

Autumn statement: More GPs to pay top rate of tax

High-earners will pay £1,200 a year more, Hunt told MPs: "Asking more from those who have more means that the first difficult decision I take on tax is to reduce the threshold at which the 45p rate becomes payable from 150,000 pounds to 125,140 pounds."

Accountancy