Money Matters

Returning from maternity leave

It's tricky enough returning back to clinical sessions, so it's good to get your tax in order first. Last month’s article was on new mothers and the financial aspects of maternity to consider, so I thought it would be appropriate to consider the return from leave this time. As our client manager, Amy James ACA,…
Read more

Parental benefits

The New Year seems an appropriate time to think about new babies, so here we consider some money matters you might need to think about. Statutory maternity pay v maternity allowance Eligibility for statutory maternity pay (SMP): Earning at least £118 a week Give appropriate notice to employer with proof of pregnancy Have worked for…
Read more

Working 
until i’m 67

Many of us are looking down the barrel of our ‘normal retirement age’ being 67. A chilling thought. One that drops to freezing when you think about how you’re going to finance the gap between when you want to retire and when you can actually afford to retire. With the seemingly ever-reducing lifetime and annual…
Read more

Can someone who is paid through their own limited company be a worker or employee?

An Employment Appeals Tribunal (EAT) agrees that out of hours GP paid through her own company was a worker. Professionals and consultants may at times provide their services through an intermediary, such as their own "personal services company". Although such an arrangement might be labelled "self-employment" or a "contract for services", it is possible that…
Read more

Planning for
 university fees

Are university fees looming in your household? Maybe your teenager is already collecting their belongings together ready to start their next chapter in life as a student. Even if your ‘mini-me’ has only just chosen their GCSE subjects, no doubt university fees will be something you ponder with some fear and trepidation. With maximum tuition…
Read more

Tax FAQs for salaried GPs and GP locums

Let’s have a look at a selection of questions we’ve been asked in the last few weeks: Can you send me proof of earnings for my mortgage? Simple question, not necessarily a simple answer! If we have prepared your tax return for at least the last three years, we can produce a copy of the…
Read more