Recent changes to NHS pension schemes have created uncertainty and complexity for General Practitioners, especially around tax charges, annual allowance calculations, and the admin required to keep records up to date. The expert team at Foxley Kingham Medical, Zeeshan...
General Practitioners are facing a number of challenges in today’s economic climate – increasing patient demand, pressure on services, and incoming National Insurance hikes. All of these combined with the demand of the job mean it’s more important than ever to ensure...
The latest raft of changes to NHS pensions came into force in April this year, many of which will have an impact on GPs and partner-owned practices. The changes are the most current set made after the findings of the ‘McCloud Judgement’ and resultant ‘McCloud Remedy’...
Chancellor Jeremy Hunt has announced in the government’s Spring Budget 2023 that the Pensions Annual Allowance (AA) is to increase from £40,000 to £60,000 from 6 April 2023. The adjusted income threshold for the tapered AA will also be increased from £240,000 to...
The key HMRC reform, which only affects unincorporated businesses, such as partnerships and sole traders, involves moving the calculation of business profits from the ‘current year’ basis to a ‘tax year’ basis. HMRC’s measure was originally put forward as a means of...
From 1 April this year, all public sector pensions will be subject to the outcome of the McCloud judgement, signalling significant changes to NHS pensions. We spoke to Zeeshan Hussain from FK Medical, a specialist in medical practitioners’ financial affairs, to find...
