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.

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

One in ten practices at risk now half of GPs over retirement age

Pressure on practice budgets and workforce have made GP partner and salaried roles increasingly unappealing for GPs.

‘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

Lowest-earning GPs to pay higher NHS pension contributions

But GPs with pensionable earnings of £75,633 per year or more will pay lower NHS pension contributions rates from April 2024.

NHS pensions

GP locum pension forms updated on LocumDeck

LocumDeck has already introduced the new pension forms to be used from October 2023 onwards.

NHS pensions

Spring Budget slowed NHS Pension drop-outs, FOI finds

Join our free event, 'Starting out with locum accounts', to learn more about how to manage your NHS pension, and how the McCloud remedy affects you.

NHS pensions

GPs to get final McCloud remedy, compensation

GPs may benefit from proposed changes to NHS Pension Scheme Regulations according to a new Government consultation.

NHS pensions

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.