Case Studies

A single six month rotation as a house officer in hospital can typically represent £1,000 a year and a tax free lump sum of £3,000 to a GP’s pension. However, the doctor will only receive this if the period of service is noted on his or her service record. Consequently, incomplete service records can significantly reduce the amount the doctor...

Detailed questioning by AISMA accountant Honey Barrett revealed a pattern of persistent under-claiming at a small medical practice in the South East. The three-partner GMS practice had been without a practice manager for a year following the resignation without notice of the previous incumbent. With no-one focusing on funding claims, matters slipped and it was only when Honey Barrett started to...

When AISMA accountants Coveney Nicholls took over the taxation and financial affairs of a large London practice, they inherited a group of worried and financially stretched doctors who had lost all faith in their previous accountants. The practice had a non 31^st March year-end and, although their accounts reflected reserves for tax and superannuation, calculation errors by the previous accountants meant...

This was certainly the case for a client of AISMA accountants Moore and Smalley LLP. On taking over the financial affairs of a hospital consultant employed by the NHS who also worked privately, Moore and Smalley uncovered a catalogue of errors over the previous six years and found that the doctor had overpaid National Insurance contributions that, with interest, amounted...