In recent weeks, the news has reported significant volatility in world stock markets. Mid-March saw both the FTSE 100 and Dow Jones experience their biggest one-day fall since 1987 before the Dow Jones then experienced its biggest weekly rise in more than 45 years. During periods of turmoil, it’s natural that you may be worried […]
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The Taxation of Cremation Form Income by Dr Ed Cantelo GP, Chartered Accountant and Tax adviser. Medics’ Money co-founder. Received a few cheques from completing cremation forms (ash cash) and not sure what to do regarding tax? Wondering if you need to tell HM Revenue and Customs (“HMRC”) or how? In this blog Ed tells […]
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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, Chartered Accountant and Chartered tax advisor, I often see colleagues who are paying too much tax as a result of making mistakes themselves or using non-specialist accountants. We built […]
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Mortgages for doctors. Sometimes it’s tricky to get a mortgage for doctors, especially if you are a 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 mortgage […]
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In the March 2020 budget, the government announced the threshold income was rising to £200,000 and adjusted income to £240,000 along with some other changes. We will update this article very soon. Much of it remains relevant, taking into account the new limits. To be notified of the updated article join Medics’ Money here https://www.medicsmoney.co.uk/join-medics-money/ […]
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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. Medics’ Money was built by doctors to help doctors […]
Read more 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. Medics’ Money is run by doctors for doctors and we asked, Paul Gilman from specialist Independent Financial Advisers Legal and Medical to outline some things […]
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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 […]
Read more 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. Many of us are looking down the barrel of our ‘normal retirement age’ being 67. A chilling thought. One that drops […]
Read more The Annual Allowance Maze You will have read numerous articles about the challenges posed by the Annual Allowance and specifically the introduction in the 2016/17 tax-year of tapering of this allowance. As a reminder, the allowance can fall as low as £10,000 for Consultants and GPs with Threshold Income over £110,000 – this income includes […]
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