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...
ProActivity spoke to Foxley Kingham Medical director and medical accountancy specialist, Zeeshan Hussain, about the risks faced by GP practices and managers which may arise from falling foul of the government’s Final Pay Control regulations. GP practices are at...
As a tax taper begins to bite, GPs are being offered a helping hand with tax changes. GP pensions have never been simple. Practice managers and GPs are faced with increasingly complex processes to ensure they make the most of pension pots and avoid major tax and...
GPs have played a vital role in the fight against the coronavirus, and although they may not be the first to suffer directly from its impact there are still a number of issues that could significantly affect their funding, renumeration and tax planning. At the very...
