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.

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.

Three ways new NHS Pensions changes could affect GPs

Annual allowance, compensation, and retrospective taxation could all hit GP locums and salaried GPs now, or in the next two years. Kirsty McGaun, Legal & Medical, advises

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

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

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

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

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

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

Setting the right locum rates

You need to charge rates that work both for you and for the GP practices that book you.

NHS pensions

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

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

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.

Ensuring a locum GP is a self-employed contractor, not an employee

There are a number of important differences between employees and self-employed contractors

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.

Registering as self-employed

Is my pay all going on income tax?

Options for illness cover for locum and salaried GPs

Will you get your death in service benefit?

Computer says no – GP locum mortgages

Start planning now for 
next year’s tax