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. Engaging […]
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Mortgages for doctors. Sometimes its 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 Independent Financial […]
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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 <£110,000 […]
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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. Here are 6 important things to consider. Choose an […]
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. 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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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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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 […]
Read moreReal Benefits of Working with a Specialist Medical Mortgage Broker The mortgage market is extremely competitive. It can be hard to unravel mortgage jargon to understand exactly what certain offers mean. There are a great deal of different providers and an extensive range of products and rates available. General advice given to property buyers is […]
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