Specialist medical accounting blog

Mortgages for doctors – 8 tips including for locum doctors, self employed doctors, GP and other medical professionals.

Mortgages for doctors. Sometimes its tricky to get a mortgage for doctors, especially if locum doctor or self employed doctor. What can you do to improve your credit score and clean up your outgoings? How many years accounts do you need? How much deposit do you need? We asked specialist medical Independent Financial Adviser Michael Miles […]

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NHS pension tax charges. Are you affected by annual allowance, tapered annual allowance and how to calculate your threshold and adjusted income?

The NHS pensions crisis affecting hardworking NHS doctors has been well publicised recently. What is the annual allowance, tapered annual allowance and why are threshold income, adjusted income and scheme pays important for all doctors to  understand? Not sure if you are likely to be affected or think you are safe because you earn <£110000 […]

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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 […]

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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 […]

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Starting out as a GP Locum including how to pension work, paying tax, claiming expenses and finding work

Starting out as a Locum GP can be daunting. Medics’ Money asked specialist medical accountant Sam Taylor and Pete Farrier from Morris Crocker to give us a guide to working as a locum GP. Including registering as self employed, paying tax how to pension work, should I work as limited company, IR35 and how to […]

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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 […]

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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 […]

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NHS pension alternative options – ISA, VCT and childrens pensions

With the seemingly ever-reducing lifetime and annual pension allowances, there has never been a more important time for doctors to look at alternative ways to save for retirement outside of the NHS Pension Scheme. We asked specialist medical financial adviser Kirsty McGaun from Legal and Medical to outline some options to compliment the NHS pension and give […]

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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 […]

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Socially responsible investment advice for doctors

Socially responsible investment advice for doctors. What is it? Can you make money and be socially responsible? This month Medics’ Money chats with specialist medical IFA Guy Roper FPFS, Chartered Financial Planner from Sunrise Independent Financial Advisers Limited. You can contact Guy for a free no obligation consultation via Medics’ Money here. So Guy, tell us what is […]

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