Specialist medical accounting blog

The NHS pension crisis – some possible solutions?

The NHS pensions tax crisis –  What changes could be made to the pension to help hard working doctors receiving tax bills as a result of annual allowance and tapered annual allowance charges? Medics’ Money asked specialist Independent Financial Adviser Max Spurgeon, from Legal and Medical what changes could help. You can book a free […]

Should I opt out and leave the NHS pension scheme ?

Here at Medics’ Money we are aware of colleagues that opt out and leave the NHS pension scheme, often without being fully informed of the risks and benefits of doing so. Here, Paul Gilman from specialist Independent Financial Advisers Legal and Medical outlines some things to consider. NHS staff are leaving the NHS Pension Scheme […]

Independant financial advisers ( IFA ) for doctors

Independent financial advisers for doctors (IFA) – how do I find a good IFA? Choosing an Independent Financial Adviser that specialises in advising NHS  doctors and surgeons on NHS pension life insurance and protection for doctors and investment advice for doctors and surgeons can be difficult. Here are 6 important things to consider. Choose an […]

Limited company for GP Locum doctors and Consultants.

Self-employment V’s Limited Company for doctors Many doctors forums are abuzz with ways to save tax and here at Medics’ Money one of the common questions we get asked from self-employed Consultants GPs and Locums is “Should I start a limited company to pay less tax” Our advice? Everyones situation is different and you should […]

Is your doctors tax code correct?

Is your doctors tax code correct? by Dr Ed Cantelo GP Trainee, Chartered Accountant and Chartered Tax Advisor   Understanding your tax code. Your tax code is calculated by HM Revenue and Customs or “HMRC” and is used by your trust’s payroll to determine how much income tax you should pay. In the first part […]

Tax saving tips for doctors – 5 tips to increase doctors pay.

Tags: doctors

Tax saving tips for doctors – 5 tips to increase doctors pay. by Dr Tommy Perkins, GP and Medics’ Money founder With doctors pay falling by up to 30% in real terms over the last decade*, an often overlooked way to increase your take home pay is by working tax efficiently. Ed, Medics’ Moneys Chartered […]

Income protection insurance for doctors and surgeons

What is income protection insurance for doctors and surgeons? Who needs it? Why should you update your existing policy using an Independent Financial Advisor? Expert Independent Financial advisor Oliver McDonald, from IEPFinancial oliver.mcdonald@iepfinancial.co.uk answers your questions on income protection.   What is income protection? Income protection insurance (sometimes known as permanent health insurance) is a long-term insurance […]

What can doctors claim tax back on?

Junior doctors can claim tax back on GMC, BMA, MDU, MPS Royal college and examination expenses amongst other professional expenses, reducing the cost by up to 40%. Our free step by step guide allows most doctors to claim themselves, online for free. What can junior doctors claim tax rebates on? The most important point is that […]

Accountants for doctors – how do I find a good medical accountant?

Accountants for doctors – how do I find a good medical accountant? by Dr Ed Cantelo GP Trainee, Chartered Accountant Chartered Tax Advisor   As a Doctor and Chartered Accountant and Chartered tax advisor myself, all too often I see colleagues who are paying too much tax as a result of making mistakes themselves or […]

Do I need a specialist medical accountant

Do I need a specialist medical accountant? by Dr Ed Cantelo GP Trainee, Chartered Accountant Chartered Tax Advisor As doctors, it’s usually a case of not if, but when we will need an accountant. But how to tell when you would benefit from some advice? As a Doctor but also a Chartered Accountant and Chartered […]