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The Medics’ Money podcast helps doctors, dentists and other professionals make better financial decisions. Hosted By Dr Tommy Perkins and Dr Ed Cantelo, who is not only a doctor but also a Chartered Accountant and Tax adviser.
Episodes
6 days ago
6 days ago
In this episode of the Medics' Money podcast, host Cyra welcomes co-leads Sophie and Henry from the BMA's finance campaign and fourth-year medical student Miki to discuss the financial challenges faced by medical students in England. They delve into how student finance currently works, the significant drop in funding during later years of study, and the impact of these financial shortcomings on students' lives. Personal stories highlight the struggles of balancing intense academic workloads with part-time jobs and the use of food banks, among other hardships. The episode also explores potential solutions, including the continuation of full maintenance loans, increased grants, and better pre-application information. The guests share ongoing efforts to engage with government departments and proposed actions to address these critical issues.
00:00 Welcome to the Medics Money Podcast
00:28 Meet the Finance Campaign Co-Leads
01:16 Understanding the Student Finance System
03:18 The Financial Struggles of Medical Students
05:38 Personal Stories of Financial Hardship
11:00 Campaign Goals and Government Engagement
18:14 Closing Remarks and Future Actions
Friday Mar 21, 2025
Friday Mar 21, 2025
In this episode of the Medics' Money Podcast, Chartered Accountant and Doctor Cyra takes over for Women's Week in honour of International Women's Day. She engages in a detailed discussion with Melanie Thomas, an accountant specialising in the financial management of doctors. The conversation delves into observed behavioral and career differences between male and female NHS consultants and GPs, particularly in relation to risk-taking, investment behaviors, and work-life balance. They explore the impact of these differences on gender pay gaps and pension disparities. Additionally, the episode provides actionable advice for female doctors to gain financial literacy and confidence in managing their finances. Stay tuned for more insights throughout Women's Week on multiple platforms.
00:00 Introduction to Women's Week
00:28 Meet Melanie Thomas: Accountant for Doctors
01:05 NHS Consultants: Gender Differences in Private Practice
03:16 GPs: Gender Dynamics and Financial Roles
06:11 Investing Behaviors: Risk Appetite and Gender
08:38 Balancing Family and Career: The Hidden Workload
10:10 Empowering Women in Finance
12:10 Conclusion and Upcoming Topics
Tuesday Mar 18, 2025
Tuesday Mar 18, 2025
GP partner looking to improve your practice/ Then come on our course
https://www.medicsmoney.co.uk/gp-partnership-programme/
Journey from ONG Trainee to Influential GP Partner: Tips & Insights with Dr. Durrat In this episode, we hear from Dr. Durrat, a GP partner who shares her transformative journey from an ONG trainee to a GP partner. Durrat offers invaluable insights into improving recall systems, leveraging cloud accounting, and utilising automations and technologies to enhance GP practices. She discusses the significant impact of the Medics Money GP partnership course on her career and practice management. She also highlights the pros and cons of being a GP partner, the benefits of a supportive GP community, and provides practical tips for aspiring partners.
00:00 Introduction to Today's Podcast
02:20 Meet Dr. Durrat Bharmal
02:53 Journey to Becoming a GP Partner
04:41 Learning the Business Side of GP
08:05 Implementing Changes in Practice
11:05 Pros and Cons of Being a GP Partner
14:13 Future Plans and Final Thoughts
Saturday Mar 15, 2025
Saturday Mar 15, 2025
Family Finances Guide: www.medicsmoney.co.uk/familyfinances
Part 2 of Financial Family Planning In this episode, Matt and Cyra, a chartered accountant and doctor, delve deeper into financial planning for medical families. They discuss the impacts of maternity and paternity leave on NHS pensions and financial obligations such as student loans. Saira highlights the various maternity leave policies, their effect on pensions, and alternatives like shared parental leave. They also address ongoing student loan repayments during parental leave, potential discounts on professional subscriptions, and strategies to manage childcare costs while working in the NHS. Key topics include child benefits, tax-free childcare, and the nuances of working less than full-time as a medical professional.
00:00 Introduction and Welcome
00:23 Recap of Part One
02:14 NHS Pension During Leave
05:16 Impact of Student Loans
08:01 Subscription Discounts During Leave
12:21 Child Benefits and Tax-Free Childcare
20:37 Locum Work and Parental Leave
22:08 Working Less Than Full Time
28:02 Conclusion and Guide Reminder
Friday Mar 14, 2025
Friday Mar 14, 2025
In this episode of the Medics' Money podcast, hosts Ed and Matthew provide a comprehensive guide on essential tax planning strategies to consider before the end of the 2024-2025 tax year on April 5, 2025. They cover six crucial topics, including claiming tax rebates for professional expenses from prior tax years, maximizing ISA allowances, understanding and mitigating marginal tax rate traps, exploring asset transfers to lower-taxed spouses, and staying aware of potential pension annual allowance issues. The episode aims to help healthcare professionals avoid missing out on valuable tax-saving opportunities and offers actionable tips to optimize financial planning.
00:00 Introduction and Overview
00:58 Meet Ed: Your Tax Guide
02:12 Claim Your Tax Rebates
06:00 Maximizing Your ISA Allowance
11:54 Understanding Marginal Tax Rates
14:57 Transferring Assets to Lower Tax Spouses
17:27 Pension Contributions and Annual Allowance
19:21 Final Thoughts and Recap
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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/
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https://www.medicsmoney.co.uk/gp-partnership-programme/
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Disclaimer:
The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.
Tuesday Mar 11, 2025
Tuesday Mar 11, 2025
Navigating Entrepreneurship as a Doctor: Insights from Elle Todd
In this episode, originally aired on 'What Medical School Doesn't Teach Us,' Cyra interviews Elle Todd, a part-time A&E doctor and full-time entrepreneur, about her journey in starting her own business. Elle shares valuable advice for doctors considering a shift to entrepreneurship, emphasizing the importance of passion, resilience, and comprehensive market research. She outlines key steps in the process, including developing a business plan, incorporating a company, and practical tips on website development and legal requirements. Elle also highlights the significance of balancing a job while initiating a business to manage financial risks and sustain motivation. The episode is packed with actionable insights, making it a must-listen for aspiring entrepreneur-doctors.
00:00 Introduction: Transitioning from Medicine to Business
00:59 Meet the Hosts and Guest 01:36 Elle's Journey to Entrepreneurship
03:18 Finding the Right Business Idea
05:53 Essential Elements for Starting a Business
08:27 Market Research and Initial Steps
10:46 Financial Considerations and Business Models
22:22 Legal Requirements and Incorporation
26:25 Setting Up a Business Bank Account
27:25 Creating a Comprehensive Business Plan
28:57 Managing Multiple Businesses and Accounts
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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Disclaimer:
The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.
29:27 Handling Accounting and Outsourcing
31:36 Legal Documents and Policies
34:15 Building and Managing Your Website
42:03 Lessons from a Failed Business Idea
47:22 Balancing a Job and a Side Hustle
48:49 Final Thoughts and Social Media Plugs
Saturday Mar 08, 2025
Saturday Mar 08, 2025
Navigating Financial Family Planning for Doctors
In this episode of the Medics' Money Podcast, the hosts delve deep into the complexities of financial family planning specifically tailored for doctors. Matthew is joined by Cyra, a doctor and chartered accountant, they explore various leave entitlements and financial planning considerations during family planning stages. The discussion includes comprehensive details about occupational maternity leave, statutory maternity pay, maternity allowance, paternity leave, and shared parental leave. Cyra offers insights into practical steps and various scenarios to maximize financial benefits, aiming to make this overwhelming subject more manageable. The episode is accompanied by a downloadable PDF guide to assist listeners further.
00:00 Introduction to Financial Family Planning
02:17 Understanding Occupational Rights During Pregnancy
07:10 Navigating Maternity Leave
15:07 Statutory Maternity Pay and Leave
23:26 Paternity and New Parent Support Leave
26:34 Adoption Leave Explained
28:14 Shared Parental Leave: A Comprehensive Guide
36:47 Conclusion and Next Steps
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/
Follow us on Instagram
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Disclaimer:
The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.
Tuesday Mar 04, 2025
Tuesday Mar 04, 2025
Medics Money MDT: Hot Takes on Financial Stories and Tax Debates In this special episode of the Medics Money podcast, the hosts introduce a new format where the Medics Money private group chat goes public.
Featuring Dr. Cyra Asher, Andy Pow, and COO Matthew Hodder, the team dives into controversial financial topics and current events. They explore why a £100,000 salary isn't sufficient anymore, debate the potential abolition of cash ISAs, and discuss the implications of higher Vanguard fees.
The episode also touches on the ongoing challenges in the UK stock market and the possible review of Lifetime ISAs, while providing a mix of expert insights and light-hearted banter.
00:00 Introducing the MDT: A New Podcast Style
01:09 Meet the MedicsMoney MDT Team
02:53 The Financial Struggles of a £100k Salary
03:32 Breaking Down the Numbers: Why £100k Isn't Enough
10:11 The Impact of Fiscal Drag and Inflation
17:47 Potential Abolition of Cash ISAs
28:17 AstraZeneca and UK Government Grants
28:31 Investment Portfolios and UK Market Challenges
30:31 Incentivizing Investment in British Companies
31:26 UK Stock Market Performance and Pension Fund Management
37:00 Vanguard Fee Increases and Investment Platforms
45:44 Lifetime ISA Review and Future Prospects
50:01 Final Thoughts and Wrap-Up
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/
Follow us on Instagram
Follow us on Twitter
Disclaimer:
The information provided in this video is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.
Tuesday Feb 25, 2025
Tuesday Feb 25, 2025
Disclaimer:
The information provided in this video is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.
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/
Follow us on Instagram
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Tuesday Feb 18, 2025
Tuesday Feb 18, 2025
Navigating Financial Complexities for GPs: Limited Companies and Adjusted Net Income
In this episode of the Medics' Money podcast, financial experts delve into two complex questions from GPs. The first question examines whether it is beneficial for a GP practice to use a limited company for certain services, discussing various tax implications, legal considerations, and regulatory challenges. The second question addresses how GP partners can manage their adjusted net income to stay below the £100,000 threshold, particularly in relation to pension contributions and the annual allowance. The discussion provides valuable insights for GPs and other doctors, emphasizing the importance of understanding financial nuances and seeking specialist advice.
00:00 Introduction and Episode Overview
01:23 Question 1: Using a Limited Company for GP Work
02:35 Tax Implications and Considerations
05:27 Legal and Regulatory Issues
07:46 Pension and Financial Planning
10:51 Conclusion of Question 1
14:48 Question 2: Adjusted Net Income and Private Pensions
16:28 Understanding Adjusted Net Income
19:14 Pension Contributions and Tax Relief
23:03 Gift Aid and Tax Planning
24:59 Practical Advice and Final Thoughts
34:23 Closing Remarks and Course Information
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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