How to avoid overpaying self assessment tax

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

How does IR35 affect GP locums?

IR35 only takes effect in an intermediary company (or partnership) between the GP and practice – so it doesn't affect sessional work.

Accountancy

How will annual allowance charges affect me this year?

Don’t just assume you are below the limits, Liz Densley advises – make sure you are aware what your ‘pension inputs’ are.

Changes to Locum Form B 2021/22

The guidance notes advise that Box j is “to assist with declaring your correct tiered rate.”

What does the McCloud consultation mean for my pension?

What are the practical implications of the McCloud consultation, and what do you need to do now (or not, as the case may be)?

Nine tasks for sessional GPs to prioritise before the end of the tax year 2020/21

It is the end of the tax year, and we must check we are in a good state to wave goodbye to 2020/21 and hello to 2021/22. We know you are all short on time so here is a quick guide to the things to tick off before it's too late.

Switching between salaried and freelance work

In 2020 greater incidence of GPs switching between salaried and freelance roles, rather than just having a mix of both, poses new questions for self-employed GPs, Liz Densley writes

Accountancy

How will having a lower income from sessional work affect my tax return this year?

Specialist medical accountant Liz Densley explains

Ten tips for setting up your finances as a GP locum

Tell HMRC you're locuming, hang on to your receipts, tell your accountant about big moves and purchases, and get advice before setting up a company

Accountancy

Financial advice for GP locums and salaried GPs working overtime

Beware of unforeseen financial impact on NHS pension, national insurance and tax, specialist medical accountant Liz Densley advises

GP locums and the Self-Employment Income Support Scheme (SEISS)

Advice for GP locums claims SEISS income support during lockdown after losing work: who's eligible and how to claim

BMA IR35 guidance

Read the union's 2020 advice for GPs.

Financial assistance for locum GPs in relation to the Covid-19 pandemic

Advice on SEISS and Universal Credit for GP locums whose income has been affected by Covid-19.

Returning from maternity leave

Given how tricky it can be to return to work after maternity leave, it's a good idea for GP locums to get their taxes in order before they're back behind the desk

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.

Setting up your tax and legal status as a new GP locum

NASGP's specialist medical accountant explains how newly-qualified GPs can set up a watertight system for managing their accounts when they undertake GP locum sessions, from managing rates to recording expenses

Tax FAQs for salaried GPs and GP locums

Liz Densley from Honey Barrett runs through some commonly asked questions from GP locums on matters related to tax and national insurance.

What expenses can a GP locum claim?

Jess is a sessional GP on a budget, saving for her wedding so she’s recording every single penny she spends – let’s look at what she can get tax relief for (and why or why not).

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.

Taking account – is having an accountant a luxury or a necessity?

Are you confident that you can keep up to date with all the changes in tax law, practice, tax tribunals etc?

Pension tier and indemnity non-tax thresholds and take-home pay

Registering as self-employed

Is my pay all going on income tax?

Computer says no – GP locum mortgages

Start planning now for  next year’s tax

Sort your tax in time for Christmas

To sell a house

IR35 intermediary legislation: turning a sow’s ear into a silk purse

Where the nhs pension  scheme gets really complicated

IR35 ‘intermediary legislation’ and public sector employment for GP locums

Don’t leave your accounts until the last minute

Give and take – what locum GPs can claim for tax

Locuming as a limited company

When ill-health causes  financial and tax problems

New tax rules with 2016 budget

Why do you need  an accountant?

Rental properties – good news and bad

Claiming for GP travel expenses

This has become an extremely complex area in recent years and a recent tax case, concerning a consultant, which restricted mileage claims, will have repercussions for sessional GPs.

Summer 2015 Budget Update

All change with National Insurance contributions

Accountancy

The basics of inheritance tax

HMRC enquiries into tax

Accountancy

Read GP financial advice on setting up GP locum tax accounts, starting out as a GP locum, how IR35 affects your GP locum, whether to join, stay or leave the NHS Pension Scheme, and what allowable expenses GP locums should record in their annual tax return.

Join NASGP’s free three-month membership trial to unlock all our resources.

Knowledgebase

How to avoid overpaying self assessment tax

How does IR35 affect GP locums?

How will annual allowance charges affect me this year?

Changes to Locum Form B 2021/22

What does the McCloud consultation mean for my pension?

Nine tasks for sessional GPs to prioritise before the end of the tax year 2020/21

Switching between salaried and freelance work

How will having a lower income from sessional work affect my tax return this year?

Ten tips for setting up your finances as a GP locum

Financial advice for GP locums and salaried GPs working overtime

GP locums and the Self-Employment Income Support Scheme (SEISS)

BMA IR35 guidance

Financial assistance for locum GPs in relation to the Covid-19 pandemic

Returning from maternity leave

Parental benefits

Setting up your tax and legal status as a new GP locum

Tax FAQs for salaried GPs and GP locums

What expenses can a GP locum claim?

Confused by Type-2 Self-Assessment forms?

Taking account – is having an accountant a luxury or a necessity?

Pension tier and indemnity non-tax thresholds and take-home pay

Registering as self-employed

Is my pay all going on income tax?

Computer says no – GP locum mortgages

Start planning now for next year’s tax

Sort your tax in time for Christmas

To sell a house

IR35 intermediary legislation: turning a sow’s ear into a silk purse

Where the nhs pension scheme gets really complicated

IR35 ‘intermediary legislation’ and public sector employment for GP locums

Don’t leave your accounts until the last minute

Give and take – what locum GPs can claim for tax

Locuming as a limited company

When ill-health causes financial and tax problems

New tax rules with 2016 budget

Why do you need an accountant?

Rental properties – good news and bad

Claiming for GP travel expenses

Summer 2015 Budget Update

All change with National Insurance contributions

The basics of inheritance tax

HMRC enquiries into tax

Join NASGP’s free three-month membership trial to unlock all our resources.

Help

Contact

Start planning now for  next year’s tax

Where the nhs pension  scheme gets really complicated

When ill-health causes  financial and tax problems

Why do you need  an accountant?

Rental properties – good news and bad