Knowledgebase

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

Specialist medical accountant Liz Densley explains

What is income protection?

Income protection is a policy that provides GP locums with a replacement income if they are unable to work because of injury or illness. Kirsty McGaun explains how it works, and explodes a few old myths

Financial advice

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

The ‘firefighter fiasco’: how age discrimination in public pensions affects GP locums

The Government has confirmed that changes made to firefighters’ pension in 2015 were age-discriminatory, and they will impact all public sector pensions

Money Matters

Financial advice for GP locums working ‘overtime’

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

NASGP’s legal advice on NHS Pension ‘Death in Service’ benefits

Thanks to generous donations from NASGP members, we commissioned advice from specialist employment lawyer Ray Levy and barrister Mary O’Rourke QC on ‘Continual Service Contracts' and death in service benefits during Covid-19

NHS pensions

We explain how the pension scheme works, and give you the tools you need to manage the admin correctly.

NHS pensions

Setting the right locum rates

You need to charge rates that work both for you and for the GP practices that book you. We help you calculate what’s fair and profitable, and support you in negotiating the best terms.

Tax-free  childcare (TFC) scheme during Covid-19

If you or your spouse/partner have ‘adjusted income’ under £100,000 in this tax year, you may be entitled to support under new rules

Death-in-service benefits from the NHS: Are you returning to work due to COVID-19?

Find out about the death in service benefit, and private options available to GP locums returning to work during lockdown

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

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.

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.

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.

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.

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.

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?

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?

Does the NHS pension scheme still represent good value for money?

Just how good is the NHS pension scheme, anyway? Our advice on why GP locums should take a closer look at the 2015 scheme

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

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.