The Department of Health and Social Care (DHSC) has confirmed that GP practices will receive no additional funding to cover recommended pay rises for salaried GPs and other practice staff, a decision that could cost the average practice up to £40,000. The DHSC announcement follows a recommendation by the Review […]
Monthly Archives: September 2022
26
Sep
Sep
“Start Up” is an evocative word, which usually suggests San Francisco style tech companies with an electric scooter and a coffee obsession. However, the pandemic saw a dramatic increase in the number of new businesses being launched, as individuals started to take up a side hustle or monetise a long-held […]
Blog, Financial Planning, Later Life, Personal Finance, Property, Protection, Wealth
Paying for care, how a local authority views deprivation of assets
22
Sep
Sep
Something that comes up, a lot! Many of us know of someone in care or needing care and, from our discussions, of course individuals don’t want to see family assets disappear to cover care fees. Conversely though, paying for your own care tends to come with choice. There are […]
Blog, Financial Planning, Healthcare, Investments, Later Life, Medical, Pensions, Personal Finance
High earning NHS workers could face huge pension tax bills
22
Sep
Sep
High earning NHS workers, including GPs and practice manager partners, could face a £33,000 tax bill due to the way inflation is applied to their pension. The Government has rejected a call from the Association of Independent Specialist Medical Accountants (AISMA) to repeat the 2019/20 compensation scheme, which protected NHS […]
12
Sep
Sep
Pension Awareness Day 12th – 16th September – what do I need to be aware of exactly? We all get bombarded with information 24/7 and to be honest, most of it isn’t good news at the moment! So, it’s easy to put things off and, in our experience, […]
07
Sep
Sep
With inflation on the rise it’s important to consider pension tax charges for NHS pension members. This has been a huge issue for medical professionals over recent years, which you will be very aware of. Many NHS pension scheme members have reduced hours, declined additional responsibilities, left the scheme or […]