• Ep 243: How will the budget affect NHS doctors?
    Nov 26 2024

    Now the dust has settled, let's find out how the dust will affect NHS doctors with special guest star Mike Harms from Medical and General IFA.

    Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

    Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com

    Want to improve your finances fast? Then come on our course

    https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

    GP partner looking to improve your practice/ Then come on our course

    https://www.medicsmoney.co.uk/gp-partnership-programme/

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    31 mins
  • Ep 242: NHS GPs won’t survive unless … with Dr Katie Bramall-Stainer BMA GPC chair
    Nov 15 2024

    Join the chair of BMA GPC Katie Bramall-Stainer for a live podcast recording to members of our GP Partnership Community.

    How to sort out NHS Pension on PCSE

    https://youtu.be/9Q3O34IapOE?si=2Hya6deAXP4n6l0d

    GP Partnership course

    https://www.medicsmoney.co.uk/gp-partnership-programme/

    Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

    Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com

    Want to improve your finances fast? Then come on our course

    https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

    GP partner looking to improve your practice/ Then come on our course

    https://www.medicsmoney.co.uk/gp-partnership-programme/

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    58 mins
  • Ep 241: Partnership or Limited Company?!
    Nov 12 2024
    In this episode of the Medics Money podcast, Dr. Cyra Mackintosh, a doctor and chartered accountant, discusses with Andy Pow, a medical specialist accountant, the differences between GP partnerships, limited companies, and LLPs. They delve into the pros and cons of each structure, including liability concerns, tax implications, and how they affect the financial operations of GP practices. The episode aims to provide up-and-coming GPs with fundamental knowledge to navigate the business aspects of GP practice effectively.

    Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

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    Want to improve your finances fast? Then come on our course

    https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

    GP partner looking to improve your practice/ Then come on our course

    https://www.medicsmoney.co.uk/gp-partnership-programme/

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    00:00 Welcome to the Medics Money Podcast 00:50 Introduction to Andy Pow 01:57 Understanding GP Practice Structures 03:39 Pros and Cons of GP Partnerships 05:14 Limited Companies in the GP Space 07:03 Risks and Considerations for Limited Companies 11:07 Tax Implications of Limited Companies 22:57 Exploring Limited Liability Partnerships (LLPs) 27:16 Final Thoughts and Advice
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    29 mins
  • Ep 240: 5 Questions to Ask Before Investing...
    Nov 5 2024

    Tommy takes us through not what investments he owns, but 5 questions any doctor can ask before starting investing to get the right mindset secured!

    Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

    Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com

    Want to improve your finances fast? Then come on our course

    https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

    GP partner looking to improve your practice/ Then come on our course

    https://www.medicsmoney.co.uk/gp-partnership-programme/

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    7 mins
  • Ep 239: Labour's Halloween Budget Aims to Balance Tricks with Treats
    Oct 31 2024

    Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

    Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com

    Want to improve your finances fast? Then come on our course

    https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

    GP partner looking to improve your practice/ Then come on our course

    https://www.medicsmoney.co.uk/gp-partnership-programme/

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    24 mins
  • Ep 238: Remedial Pension Savings Statements... what do YOU need to do?!
    Oct 29 2024

    Tommy and Andy take you through everything you've need to know and do if you have, or haven't yet, received a brown envelope in the post...

    McCloud explained https://www.medicsmoney.co.uk/what-does-the-mccloud-judgement-mean-for-my-nhs-pension/

    Find a Medics’ Money approved accountant to help https://www.medicsmoney.co.uk/medical-accountant/

    HMRC triage tool (watch YouTube before using) https://www.gov.uk/guidance/calculate-your-public-service-pension-adjustment

    Mastering NHS Pension Adjustments: Expert Guidance and Essential Steps This episode provides a comprehensive guide to navigating the complexities of NHS pension adjustments in light of the McCloud remedy. Host Tommy, along with specialist Andy Pow, delve into the background and implications of recent pension changes, offering essential tips for recalculating annual allowance tax charges and understanding eligibility for compensation. They explain the use of triage tools, the submission process for revised tax data, and the importance of meeting deadlines to avoid penalties. The discussion also highlights difficulties NHS staff face in obtaining accurate pension data, especially in Scotland, and the necessity of seeking professional financial advice. Listeners are encouraged to verify their pension records, understand tax implications, and use resources like the Medics Money website for expert guidance. Practical steps for managing pension-related disclosures and avoiding common pitfalls are provided.
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    53 mins
  • Ep 237: Maximising Tax Efficiency for Limited Companies: Expert Tips with Tori Fergusson
    Oct 22 2024

    Tori from Honey Barrett Chartered Accountants takes us through limited companies for doctors today.

    AI generated summary: Tori Fergusson

    In this insightful episode, we dive into tax-efficient ways to extract money from a limited company and navigate HMRC compliance checks with Tori Fergusson from Honey Barrett Specialist Medical Accountants. We discuss directors' loans, employing spouses, avoiding tax investigations, and much more. Tune in to empower yourself with essential financial knowledge! Introduction & Listener Questions Welcoming Tori Fergusson Why Honey Barrett? Expert Discussion: Limited Companies Tax-Efficient Ways to Extract Money Compliance Interactions with HMRC Handling Information Notices Real-Life Case Studies Conclusion & Contact Information

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    34 mins
  • Ep 236: Is your NHS payslip correct? NHS Pension Tax relief? Investing for your kids? - Q&A Episode!
    Oct 15 2024

    Tommy and Ed dive into a Q&A session featuring queries from doctors at the recent Royal College of Obstetrics and Gynaecology National Trainees Conference. Topics covered include investing in children's Junior ISAs, the impact of pay errors on NHS pensions, the global diversification of the S&P 500, and the complexities of National Insurance for multi-employer doctors.

    Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

    Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com

    Want to improve your finances fast? Then come on our course

    https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

    GP partner looking to improve your practice/ Then come on our course

    https://www.medicsmoney.co.uk/gp-partnership-programme/

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    46 mins