Managing finance when leaving a partnership for locum work
January 9, 2014
Pulse Finance Diary – January 2014
January 7, 2014
Plans to phase out pay benefits for experienced GPs could create discord in practices. AISMA Chairman Bob Senior discusses what the loss of seniority pay will mean for GP practices and suggests a strategy to ease the way. Read more
AISMA Chairman comments on pension scheme errors
December 11, 2013
Some GPs are wrongly facing tax demands of up to £17,000 due to miscalculations made by the NHS pensions authorities, medical accountants have warned. Read more
Pulse Finance Diary – December 2013
December 3, 2013
Accountant Bob Senior advises on tax-efficient ways for GP partners to throw seasonal parties or give end-of-year gifts to their practice teams.
It’s been a hard year in general practice and most partners will be thinking of the best way to thank staff for their efforts over the past 12 months. But unless GPs take care, they may find themselves making a seasonal gift to the taxman too. Read more
Practice Management: Tearing your hair out?
November 30, 2013
There seems to be no end in sight to the stressful work environment experienced by so many practice managers. AISMA accountants offer tips on how to manage some frustrating practice finance conundrums. Read more
Pulse Dilemma: Practice manager needs support
November 18, 2013
Staff costs are increasing due to rising pay and extra workload. Despite falling profits, the practice manager wants to employ an additional secretary to release the present secretary, who may leave if they do not have the chance to expand their role into that of a deputy practice manager.
How do you handle the various concerns? AISMA member Seamus Dawson joins the debate. Read more
AISMA accountants comment on new GP contract
November 15, 2013
GPs are unlikely to see an increase in income as a result of the changes laid out in the 2014 GP contract deal, accountants have claimed.
Medical accountants told Pulse the agreement would be likely to alleviate many of the burdens on GPs, and had been universally welcomed by their GP clients, but warned that an increase in pay would not necessarily follow given there is no new funding. Read more
AISMA chairman, Bob Senior, comments on reduced seniority
November 15, 2013
Seniority payments will be reduced by 15% a year until they are completely abolished in 2020, under the new GP contract deal for 2014/15.
The payments – worth an extra £8,000 per year for senior GPs – will be continued for those getting them on 31 March 2014, and will then not be given to any new entrants to the scheme from that date. Read more
Pulse Finance Diary – November 2013
November 1, 2013
This month’s column covers two areas for potential savings – changes to abatement rules, and a way to avoid a VAT liability.
After the new Premises Cost Directives emerged earlier this year, it seemed there was no limit to the amount of private work a practice could undertake. However, the Department of Health pointed out that significant private use might still lead to clawbacks. Read more
Practice Management: Reducing practice expenditure
October 1, 2013
My starting point for this article is our own accountancy practice. While the services we provide are very different to a GP practice the cost structure is similar, with people being the major cost. Like us, GP practice managers looking to reduce expenditure can really divide their efforts into two distinct camps; staff costs and the rest. Francis Whitbread suggests how practices can reduce their annual expenditure