Money Matters

Mortgage tips for 
GP locums

Despite the weirdness that is Brexit, the traditional increase in the number of new mortgage applications in springtime continues. There are plenty of decent rates out there, particularly fixed rates. But what if you are a locum? It may be great to have the flexibility and autonomy of working patterns, but if it stops you…
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State-backed indemnity – 
what it means for sessional GPs

There's still some uncertainty about the new state-backed indemnity scheme for England and Wales, and Rachel Birch from the MPS has the answers. What is state-backed indemnity? The state-backed scheme will provide GPs with indemnity for clinical negligence claims, arising from work undertaken under NHS-contracted primary medical services. This will be a similar arrangement to…
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Confused by Type-2 Self-Assessment forms?

With the deadline for completion of Type 2 certificates by the end of February, we thought we’d cover some of the questions we’ve been asked recently. Why do we have to fill in a form? The intention of the certificate is to check that the right tier rate has been applied and to provide a…
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Five financial tips 
for GP locums

Being a locum has many advantages: greater flexibility, autonomy and variety. But there are some disadvantages too: peaks and troughs in income, difficulties with getting a mortgage and uncertainty about your financial situation if you fall ill or die, to name just a few. Modern life can compound matters too. A recent report has found…
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Registering as self-employed

Who these days doesn’t have a portfolio career? Even if you’re not technically locuming at the moment, it’s pretty likely there will be opportunities over the coming months when you’ll be offered work outside your existing PAYE arrangements. Running your business arrangements is not as simple as PAYE for salaried staff – you are still…
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Is my pay all going on income tax?

Liz Densley is often get asked ‘Is it worth working harder and earning more? Or am I paying it all in income tax?’ Here she explains a better balance. There are certain ‘crunch points’ at income levels where it can make a material difference, depending on various circumstances, to different types of tax liabilities. There…
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Will you get your death in service benefit?

Locums are becoming a vital part of increasingly pressurised general practices, yet the NHS benefits they’re entitled to are not always as fair as they could potentially be. While locums can contribute to the NHS pension scheme, one critical benefit is not always available: death in service. What is a GP locum worth to the…
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