Five typical tax enquiries and how to handle them
April 8, 2014
Tax inquiries into GPs remain relatively rare. Most GPs occasionally receive a request from HMRC for information on aspects such as an interest or pension payment and the accountant normally deals with these. GPs who experience these relatively passive inquiries should have little to fear provided they stay on top of their financial affairs. AISMA accountant Anthony Brand has some advice for GPs who run the risk of unintentionally falling prey to a tax inquiry. Read more
Pulse finance diary: April 2014
April 1, 2014
An up-to-date partnership agreement will ensure your practice is well placed to withstand potential upheaval. AISMA chairman Bob Senior has some advice for GPs on how to future-proof the practice against partnership changes. Go to the Pulse web site
Practice Management: Cautionary tales
March 17, 2014
Recent cases from AISMA accountants prove that specialist legal and accountancy advice always pays its way. Read more
AISMA accountants comment on pay decision
March 13, 2014
The government’s decision on GP pay received wide-spread coverage in the GP press. Read the reaction from AISMA committee members Luke Bennett and Bob Senior as published on the Pulse website.
Pulse finance diary: March 2014
March 1, 2014
As the 2013/14 QOF year draws to a close, GPs are doing all they can to maximise their achievement, writes Bob Senior. Read Work hard and smart in the great QOF chase on the Pulse website
Pulse Dilemma: DES losses row
February 6, 2014
Should you make a partner pay for losses resulting from the poor implementation of a DES they were leading on? The local area team has refused to pay your practice income due from work on a DES. When you discuss what went wrong, it transpires one partner made critical mistakes. Another partner argues they should personally meet the costs lost. AISMA Chairman Bob Senior joins the debate. Read more.
Practice Management: GP pensions
February 3, 2014
Practice managers are meant to be the fount of all knowledge on all topics, and are often asked questions by their GPs about pensions. AISMA committee member Luke Bennett offers a layman’s guide to what you need to know, and equally what you don’t! Read more
Pulse finance diary – February 2014
February 3, 2014
When the new tax year starts on 6 April there will be two significant tax changes affecting pensions – changes that GPs should be taking stock of now, writes AISMA Chairman Bob Senior. To find out more visit the Pulse website.
Practice Management: Planning for 2014
January 21, 2014
Many practice managers will look back on 2013 as one of their most stressful years yet working for the NHS. The chaos arising from NHS reforms resulted in increased workloads across the board, for doctors and their staff alike. By the end of the year many practice teams were exhausted and demoralised. It’s hard to imagine that things will improve in 2014 but one thing is certain: time taken now to plan practice strategy for the year ahead. AISMA accountant Liz Densley offers some tips on getting the practice in shape for the year ahead. Read more
Managing finance when you retire to become a locum
January 13, 2014
Accountant James Gransby has a five-step plan for GPs retiring from a partnership position for a sessional career.
A popular option for GPs approaching retirement has been to relinquish their partnership but continue working as locums. And with concerns over the new contract and the reduction of seniority payments, many GPs over 55 may well be considering this option with renewed interest. So what are the financial considerations GPs need to heed if they plan to work as a locum while drawing their NHS pensions? Read more