The Spring 2012 issue of AISMA Doctor Newsline, the publication of the Association of Independent Specialist Medical Accountants, is published today with an essential mix of advice and commentary on the business of running a busy GP practice.
This month’s lead article is by specialist healthcare lawyer, Andrew Lockhart-Mirams, who describes new case law that could impact on restrictive covenants, used by GPs to protect their business, but now with the potential to handcuff them.
Practice management guru Kathie Applebee focuses on restructuring and redundancy in her article. While few practices would choose to make staff redundant, the unpalatable truth is that rising costs and falling income may well make this inevitable for some. Kathie’s advice could make the process more bearable for all concerned.
If your tax bill came as a nasty shock back in January AISMA chairman Bob Senior explains exactly why GPs are feeling the pinch, while pensions experts Gareth Rose and David Walker give their assessment of the impact of the new annual and lifetime allowances for pension savings and outline some tax planning options ahead.
Finally, there are some tax and profit-making tips for GPs and practice managers to ponder for the financial year ahead.
Bob Senior says: “This year’s tax bills were bad enough for many GPs, yet things could get even worse once the new rules on annual and lifetime allowances kick in. It is essential that doctors take steps now to understand their own position with regard to pension growth by talking to a specialist medical accountant.”
AISMA Doctor Newsline is available exclusively to clients of AISMA accountants.
Doctors wishing to contact their local AISMA accountant can find details on the find an accountant page of this website.