Following the AISMA conference (Association Independent Specialist Medical Accountants) the healthcare team at Robson Laidler have pulled together the key areas and latest financial updates that our healthcare professionals should be aware of:


NHS pension problems


We know that your pension is always on your mind due to the frustrations that come with ensuring that your pension contributions are correct.


The PCSE system is not always up to date, meaning NHS pensions are not able to provide pension statements upon request.


PCSE now have a dedicated complaints team should you need to escalate any of your ‘contact us’ enquires:

We have found that they are more responsive and better positioned to help with queries.


Stacey – “Knowing that you don’t have to stay in a ‘contact us’ loop, will be a game changer to helping clients tackle the pension issues they have been facing.”



The McCloud Remedy

Pension changes in the past saw individuals moving into the 2015 scheme based on their membership status and proximity to normal age. Older members were protected but the protections did not apply to younger members.


Following a legal challenge, citing discriminatory practices on age grounds being won – we now have The McCloud Remedy.


From 1 October 2023, any pensionable service affected members between 1 April 2015 and 31 March 2022 will be placed in their legacy scheme – 1995/2008 – Rollback.

On retirement, you will be given the choice as to whether you remain with the rollback or opt for the pension to be paid out as it was in the 2015 scheme, for those 7 years.


It affects

  • Those who were automatically transferred from legacy scheme 2015 scheme
  • Those who opted out of the 2015 scheme
  • Those who joined the 2008 scheme in choice (2) exercise


Dates for the diary

  • October 2023 – Retirement estimates now show rollback
  • April 2024 – Both retirement estimates and TRSs will show rollback
  • October 2024 – Remedial Service statements (RSSs) issued (Potential delay)
  • April 2025 – TRSs will show both rollback and 2015 scheme options


So, how do you know whether you should remain with the rollback or to opt to have it moved to the 2015 scheme? You need advice.


There could be an impact on the annual tax charges where growth pots exceed the annual / lifetime allowance. Refunds / additional tax charges up to 4 years, could be due.


There is a compensation to help cover some of the costs involved up to a max £1,000 inclusive of VAT. (Accountancy £1,000 / Independent financial advisor £500)


Please speak to our wealth team RL Wealth for further information –



PCNs – the future

PCNs were formed to enable a greater provision of proactive, personalised, coordinated and integrated health and social care for people at home.


Going forward, PCNs will be the cornerstone of integrated neighbourhood teams, with streamlined access and personal care.


The service is aimed to support and improve resilience and care delivery, thus improving health outcomes and reducing health inequalities.  Targeted resource and collaboration efforts with non-GP providers aim to provide better care.


They will work at scale and look to build relationships and embrace digital technologies.


More funding will be allocated into PCNs to enable this care, rather than being paid directly to GP practices.


We are beginning to see collaboration between PCNs in geographical areas and incorporated entities to manage the funding streams being received.


Practice managers and AISMA

We know how hard practice managers work to ensure the smooth running of a practice, often being the main HR, finance and operating leads and not always having the support available to keep you going. Well, now there is a place you can get support.


We met three practice managers who are members of IGPM – Institute of General Practice Managers –


The institute offers support sessions for practice managers as well as enabling them to take part in training to become accredited in the profession. The institute gives:

  • A voice
  • Access to regional representatives
  • Regular newsletters
  • WhatsApp groups – dedicated topic specific
  • Fees are tax deductible for a practice – £50 per year


Emily – “Sounds like a good community and the subscription isn’t a lot per year.”


Tax update

There have been several tax updates over the last year;  benefits for groups of companies, IR35 and off payroll working, salary vs dividend, high income child benefit charge, capital taxes but the one that really got us thinking was the updated guidance on the deductibility of training for sole traders and self-employed.


Clarity has been given to what costs can now be deducted from profits:

  • updating skills
  • maintaining pace with technological advancements
  • changes to industry practice.


This gives much greater scope for healthcare professionals to grow and progress and reduce their tax burden.


Lawrence – “My biggest takeaway from AISMA was the tax update regarding CPD expenses, which is something I was able to bring back and immediately apply to our clients.”


Drugs profits

Practices used to be able to get 35%-40% profits from drug dispensing however due to changes in pricing and pressures on processes, they have seen profits drop to 25%-30%.


For dispensing practices, the dispensing fee income is becoming more variable.


Below are some key areas to watch out for, to maximise profit potential:

  • Not claiming everything / paid for everything
    • Have revenue assurance that all items are claimed and all payment issues are resolved.
  • Ordering Flus late (inflated prices) or too many (wastage)
    • Order earlier to get better prices, don’t over order or arrange an effective campaign to ensure no wastage.
  • Using the wrong suppliers – ordering high value drugs
    • Supplier management
      • Check prices against NHS refund rate
      • Shop around for discounts
      • Stop purchasing high cost drugs – any alternatives?


Liam – “This would be particularly useful as PMs begin to look at retirement and succession and could potentially lose on incorrect claims.”


If you need support to maintain standards of care, reduce waiting times, increase reporting, maintain staff well-being, all whilst ensuring partners are remunerated fairly, we are here to help.  Contact our Robson Laidler Healthcare team by visiting: or email: