Financial

Paid sick leave for locum GPs

Being self-employed doesn't mean you have to suffer financially if you're off sick. You will have seen the interesting article by Kevin Walker of Blackett Walker in which Kevin considered the pros and cons of Permanent Health Insurance and Critical Illness Insurance. He took you through the use of these forms of insurance when you…
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All change with National Insurance contributions

I have often mentioned the National Insurance contribution (NIC) problems that can arise when a doctor has both a salaried position and freelance work. It applies mainly to locum GPs and consultants with private practice, but it can apply to partners with a salaried appointment too). Up until now you needed to apply for deferment of Class 4 NIC,…
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The basics of inheritance tax

Even if you think it is too early for you to be worrying about inheritance tax, it may well apply to your parents (or even grandparents), so you need to know the basics. When is inheritance tax payable? It can apply to certain lifetime gifts at 20% (normally amounts put into trusts), or where the…
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HMRC enquiries into tax

Self assessment works on a ‘process now, check later’ basis. So when you submit your self assessment tax return, HMRC will normally just accept it unless there is an arithmetic mistake in it. Do not assume that if a refund has been issued to you that that means the Revenue have agreed your claim. At…
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