28th January 2022 by Liz Densley, Honey Barrett
Work pressures for GPs are continually mounting and finding the time or energy to manage your own finances can seem impossible.
However, if you do not put away funds for tax/NIC/student loan etc as you go, you can end up receiving impossible demands for your money.
In addition, there is the risk of your own ill-health and having to find a way to cope financially with no income.
‘Priority’ queries only for HMRC phonelines until 31 January
Taxpayers will receive no support with frequently-asked questions from helplines over seven weeks to the Self Assessment deadline.
More GPs face higher tax bills after Autumn Statement freeze
Despite the abolition of Class 2 National Insurance contributions, more GPs face higher income tax bills, accountants have warned.
Lowest-earning GPs to pay higher pension contributions
But GPs with pensionable earnings of £75,633 per year or more will pay lower NHS pension contributions rates from April 2024.
"I have found LocumDeck to be the most helpful and invaluable resource for keeping bookings and accounts. I want to thank you for the wonderful service you provide. Many thanks once again for all the NASGP provides, and particularly for use of the excellent resource LocumDeck has proved to be – something I have recommended to many colleagues who have taken a step to locum work."
Dr Ruth Snowball, GP, Birmingham
