Knowledgebase

How the Spring 2022 statement affects GPs

Honey Barrett summarises the key info GP locums and salaried GPs need to know.

Self assessment extension: advice for GP locums

Should GPs use the extension or not? Specialist medical accountant Liz Densley advises.

Accountancy

Managing cashflow as a GP locum

Specialist medical accountant Liz Densley shares six questions for a locum's budget.

PCSE advice: Accessing draft Type 1 and 2 forms

PCSE has produced a useful guide to accessing draft Type 1 and 2 forms. Download it here.

Making Tax Digital for GP locums

Liz Densley's advice for GP locums on HMRC's new approach.

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.

How to use the 2022 Locum Form B

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

Check your pension allowance, use your dividend allowance, and doublecheck your tax code.

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 parental 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).