Summer 2015 Budget Update

7th August 2015 by Liz Densley

Summer 2015 Budget Update

By the time this is published, much will have been written about the planned Budget changes – but here is a brief summary of some of the parts that will affect sessional GPs most.

Pension tax relief changes for high earners

There will be further restrictions on tax relief on pension contributions, starting when net taxable income (after deducting pension contributions) exceeds £110,000. The rules, as usual, are complex and involve calculating pension inputs – that is, the deemed pension contributions based on the increase in pension earned from one year to the next. When the net income plus deemed pension contributions exceeds £150,000, then the £40,000 annual allowance is reduced, £1 for every £2 of excess income until it is reduced to £10,000 at earnings of £210,000.

This will mean that more doctors will fall into the annual allowance charge net and will need to make the decision whether to pay the additional tax or to elect for the scheme to pay it. Expert pensions’ advice is needed to help make this decision.

Read more

No credit card details needed – it takes two minutes.

Join free trial


Already a member? Login to view this content.


"LocumDeck is so good and so intuitive that I am lost for words and utterly filled with glee.

It can send an email confirming the sessions that are booked and creates and emails invoices direct to the practice for you. These contain links to your beautifully laid out ‘credentials’ page with all your relevant documents, and a model contract that is all ready for you to accept or edit.

It automatically produces and sends the locum form A, and will produce locum form B. It also acts as the calendar... And it all happens automatically. It is really less than a minute to invoice and do the pension forms, with everything calculated perfectly."

Dr Annette Steele, GP

See the full list of features within our NASGP membership plans