Excellent helpful advice! I have been recommending that all my friends subscribe
Gregory McConaghie
16:10 28 Jul 24
I requested help from RBP through Medics' Money - I got a response they couldn't help me. No explanation to me or Medics' Money. Disappointing and unprofessional.
Amy Rogers
09:46 19 Jul 24
Medics money are invaluable and their course is excellent value for money with extremely knowledgeable and experienced staff that openly and honestly share of personal experiences. I highly recommend!
ian logan
06:02 11 Jul 24
Clear and concise delivery of information with opportunity to ask questions without feeling stupid.
shahzeb shaikh
17:20 23 Jun 24
Good service that educate medics about financials!
Wale Bodunwa
07:17 03 Jun 24
Can't describe enough how awesome medics money have been to me. Sorted a lot of my financial questions by just a quick glance.Thanks a lot medics money
Charis Lashley
11:21 25 May 24
The best site for financial advice for anyone in the medical field. Learnt so much. Also simple to follow.
Pauline
10:26 05 Apr 24
I have health issues and am planning to retire early due to this Richard Heap was excellent in providing me with information on the tiers of pension and plan for retirement
Bertie Fernando
07:42 24 Jan 24
Brilliant podcast, informative and interesting. A must for every doctor in the UK
XXMM MMAYO
11:28 03 Dec 23
Seun Gbemi
12:17 20 Nov 23
Kalp Patel
09:17 31 Oct 23
Have told all my colleagues about it!
Tim Wood
09:15 26 Aug 23
Good solid financial information that should be taught to all doctors before they start.
Nigel Koleth
09:17 13 Aug 23
Kiran Baillal
20:11 25 May 23
Really great resource available in various formats with information broken down in simple terms to make it easier for us to understand and use for practical life and work steps.
Chinwe Ursula Ikwueze
18:13 29 Apr 23
Waqar Younas
18:48 05 Feb 23
Mohammed Ali
20:51 01 Feb 23
Ime
14:03 30 Jan 23
Brilliant podcast, informative and interesting. Would highly recommend to any doctor in the UK
Tracey Covell
11:56 29 Jan 23
James
06:58 28 Dec 22
A fantastic free service that educates doctors in financial ways. Ensure you are paid correctly and claim back the money you are owed, which was thousands of pounds for myself. Obtain truly independent and knowledgeable accountants and financial advisors to help towards financial independence.Thank you medics money!
Peter Mezes
18:10 15 Dec 22
they connected with an advisor who refused to help. Then they promised to look into this, and haven't heard back from them ever again
Maryam Ahmad Idris
19:47 12 Dec 22
Great resource -find the podcasts very informative
Amanda Shabana
10:15 11 Dec 22
Excellent advice about the financial aspects involved in having a career as a medic with up to date podcasts on various issues E.g pensions. Excellent resource!
Debdeep Dey
06:30 29 Nov 22
brilliant website with useful information , Thanks
A Gautam
08:18 18 Nov 22
Really useful information and helped clarify what I needed to do to make better financial decisions. Thank you!
Firas Arnaout
07:18 05 Oct 22
On behalf of Orthopaedic Academy, I would like to thank Tommy & Ed. You are heroes. Literally!
Vicky Giniyatov
18:28 30 Sep 22
Excellent podcast, ebook & medic money legends. Thank you so much for explaining things I should have learnt at medical school....
bnf bnf2088
00:16 18 Aug 22
I have found your podcasts interesting and informative on financial aspects of our working lives that we were not taught about. I agree with you, Financial Health should be on the medical school curriculum. The reason I have given it four starts is indirectly linked with the podcast. The advisor recommended via your site has called me once and since receiving the information from NHS pensions agency (which took a few weeks because this is how long it takes to get the paperwork these days) has not replied any of my emails or returned calls. I am obviously disappointed. Could you please ask the financial advisers who agree to be contacted to be committed to the process. Thank you for your time and energy.
alexander brooman-gannon
05:34 20 Jun 22
Really helpful and explanatory.
Luke Newey
11:47 28 May 22
Moh Mhf
14:13 22 May 22
Very helpful step by step guide for doctors tax claim.
Matthew Nour
13:47 20 May 22
Excellent resource. Thank you for all that you do and are doing.
Charlotte G
10:28 05 Mar 22
Really helpful resources for educating doctors about how to navigate medicine-specific finances, thank you! Really enjoying the podcast too.
Eleanor Mulvenna
07:03 24 Feb 22
Really useful guides that explain every step in claiming your exam fees and subscriptions. Thanks
Rajan Patel
04:10 21 Jan 22
Simply fantastic. I am a newly turned consultant gastroenterologist who moved over to NZ a year ago but have continued to listen to these podcasts. Still really useful in sorting out finances back home. Particularly enjoyed the podcast on investment books to read. Keep it coming please!
Kate
22:11 25 Nov 21
Massive thank you to Tommy and Ed for all that they do to help empower their fellow medics, especially those like myself who just wouldn't have had a clue where to start to sort out their finances. I found the podcasts a great first step to give me ideas for things that I could then later look at more closely - and how amazing that the team have put together so many resources that then make these subsequent steps way easier! I can't recommend Medics Money highly enough :-)
P C
19:20 11 Nov 21
Without a doubt the best advice I have been given. I was really pleased with the service and recommend to all. Tommy was really approachable and took the time to guide me. This was something I should have done years ago. Thanks again. Paul Coulter
Michele Richards
09:27 11 Oct 21
Really informative
pip
07:32 17 Sep 21
Excellent podcasts. Practical advice with each podcast having at least one thing you can change straight away
Krishan Patel
12:08 24 May 21
Karanvir Singh
12:35 04 Apr 21
Fantastic podcast full of useful information, would recommend to any medics
Mubashir Siddiqui
20:50 20 Mar 21
Great website for medical professional looking to gain financial literacy!
nathan banda
06:49 23 Jan 21
kauserjan shaik
07:19 19 Jan 21
Aimed at medics, they offer sensible advice relating to issues medics face. Even a complete novice like me understood the financial principles, thanks to their presentations which are easy to understand. Best of all, they have podcasts which I can listen to on my walks.I think every medic should listen to them at-least once.
Aslam Khan
18:50 30 Nov 20
Very good
Niranjan Patel
16:07 17 Nov 20
Nene Nyemi-Tei
14:25 10 Nov 20
Used their advice to claims tax rebated for the past 3 years since I qualified as a doctors. Literally hundreds of pound from HRMC. Would recommend to an UK doctor. Great guides and great easy to follow advice
Ahmed Sulieman
11:10 05 Sep 20
Ben Woodward
15:53 25 Jun 20
Still in the early stages of dealing with the financial advisor appointed to me by Medics Money, but so far so good. The Medics Money team themselves have been excellent - very swift with replies and always extremely helpful and pleasant. Keep up the good work.
Bea
08:59 13 Jun 20
Really helpful service, great resources for understanding finances at no cost. Responded to a question I sent very quickly and with a thoroughly explained answer.
Deepak Sharma
16:19 26 May 20
DR PRADEEP KUMAR
16:13 07 May 20
You guys have stepped up beyond the calling of medicine and healthcare to provide a niche service which can meet the unspoken needs of Doctors and GPs, also GP trainees like me! Wish you the best!!
Ayodeji Omosebi
12:08 07 May 20
Imraan U
21:51 03 May 20
Saved me a tone.... every dr in training should read this.
Sarah Manohar
08:11 03 May 20
Found the information the had really helpful. Loads of information and amazing communication. :)
Seren Peters
19:32 30 Apr 20
Really helpful guidance, all provided free. Thank you!
Chris Howe
00:45 03 Mar 20
A kind and supportive organisation that helps medics navigate their way through the labyrinth of financial decisions that they have to make throughout their careers.
Adrian Stallwood
14:50 22 Jan 20
Fantastic, prompt and efficient service, run by doctors who understand the issues and know what's required. I was put in touch with an expert IFA within 24 hours which cam me the confidence I needed to make an informed decision regarding my annual allowance charge. Highly recommended, have already informed colleagues
Roger Sepping
16:40 21 Jan 20
Mohamad Zeina
15:39 08 Dec 19
Imran Khan
09:18 30 Nov 19
Fantastic service
E B
08:44 30 Nov 19
Used their great guide to file tax rebate for professional expenses. Really love what theyre doing. Thanks.
Ross S
09:16 12 Nov 19
I used their clear and concise guides to registering an account with HMRC and submitting a form for rebate. Very easy to navigate with the guides and took a lot of the stress out of the process. I would highly recommend for anyone with the need to submit requests for rebate - saved me a significant amount of time
Tiago Ivo
16:07 06 Oct 19
Great website, a real important resource for all medics
The MDM
11:58 11 Sep 19
Amy Kelly
10:33 27 Aug 19
Sudesna Chatterjee
20:39 30 Jul 19
I have found Medics Money to be very helpful in identifying suitable medical accountancy firms who can provide expert information on my complex financial needs. The website is easy to navigate and has lots of useful information which instils confidence. I was contacted very promptly by one of the recommended firms who gave me some important advice on NHS Pensions. I am still waiting to hear from the accountants but I understand that this is a very busy period for them with lots of interest from doctors based on the new pension rules. Tom contacted me early on to ensure I was happy with the service provided which was reassuring and indicates how serious he is in helping medics to better their financial situation. Thanks for setting up your website. I really appreciate it.
Nasra Alam
15:13 25 Jul 19
Tommy and Ed were fantastic. Very prompt with their responses and gave very detailed advice.
Eleanor Stone
09:33 20 Jul 19
Really helpful advice, speedy responses and gave me details of a suitable accountancy service which I have now registered with. Perfect how-to guides which enabled a novice to claim back some tax!
Theo Malthouse
18:21 09 Sep 18
Freddie Green
09:16 06 Aug 18
Alex Moncayo
10:16 11 May 18
Excellent customer service, fast communication and clear replies, I would recommend them to all doctors and nurses and allied health professionals who want to get a good rebate without complications
Richard Sutcliffe
07:54 02 Feb 18
Really helpful thanks for your assistance
Eleanor Lee
19:44 12 Dec 17
Professional, helpful and reliable. They went above and beyond to help my case and responded quickly to queries. Highly recommend them to my colleagues.
Steve Phillips
14:39 15 Nov 17
Fantastic service. Hassle free. Rebate came through very quickly. Excellent communication throughout.
Jan Klepacki
20:16 06 Oct 17
Excellent and professional team. They saved me many potential headaches!
Paul Sampson
07:37 20 Jul 17
Great company. Saved me lots of money. Much quicker than I was expecting too.
Get an instant, free, estimate of how much tax you could re-claim for paying GMC, BMA, Royal College, medical indemnity and examination expenses.
FAQS
How accurate is the doctors tax rebate calculator?
The rebate calculator is designed to give you an estimate and your final tax rebate may be more or less than the figure suggested by the rebate calculator.
There are many reasons why the tax rebate received may be different to the figure provided by the rebate calculator. These reasons include, among others:
- NHS payroll departments do not always deduct the correct amount of tax each tax year. If too little tax has been deducted previously, this will reduce the amount of rebate due. But sometimes too much tax has been deducted, especially if your payroll department has applied the wrong tax code to your salary.
- The tax rate entered into the tax rebate calculator may not be the correct marginal tax rate that your employment income is taxed at e.g. in certain tax years your income may be taxed at 20% rather than 40% especially if your claim includes years in which you were an FY1 or FY2, on maternity leave or taking time out of employment.
- Reducing your employment income by your professional expenses may bring your income from the 40% tax rate into the 20% tax bracket reducing the amount of rebate due.
- The calculator does not take into account any other sources of income which you may have and these can affect the amount of any tax rebate due. Note that only rates that apply to employment income are included in the calculator.
Why would I have overpaid tax and why would I be due a rebate?
HM Revenue and Customs allow tax relief on professional expenses that we as Doctors have to pay in order to do our jobs. For example, if you pay £425 to the General Medical Council, every year you are entitled to tax relief on this amount (usually at 40% of the amount paid). So for example for £425 of GMC fees you would be due a refund of £170 per year (40% of £425). If you haven’t claimed before you can backdate the claim for the previous 4 tax years. (£680) If you also pay money to e.g. Royal College General Practitioners, MDU, British Medical Association or a host of other Royal Colleges and societies you could be owed thousands of pounds in overpaid tax. You may also be entitled to claim a tax rebate on examination expenses such as MRCP, MRCGP, MRCS, FRCA, etc.
What can I claim for?
Our guide gives you guidance on what you can claim but in general a doctor on a training contract can usually claim GMC, BMA, Royal college, indemnity and examination expenses including in some circumstances travel to and from the exam and accommodation expenses. We're often asked if there's a definitive list - there isn't as such, but HMRC does have a list of professional bodies approved for tax relief which is accessible here HMRC List 3.
However List 3 isn't very intuitive to search. For example the GMC appears in the M section as "Medical Council General". Similarly, the BMA appears in the M section as "Medical Association British". This makes it tricky to use, but our free guides give you speciality specific guidance on what you can claim to make things easier.
It's important to realise that what you can claim depends on your employment status and if you are self employed or working via a Limited company we would STRONGLY advise you to use an accountant.
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