Medics Money podcast

Ep 242: NHS GPs won’t survive unless … with Dr Katie Bramall-Stainer BMA GPC chair

Join the chair of BMA GPC Katie Bramall-Stainer for a live podcast recording to members of our GP Partnership Community.

How to sort out NHS Pension on PCSE

https://youtu.be/9Q3O34IapOE?si=2Hya6deAXP4n6l0d

GP Partnership course

https://www.medicsmoney.co.uk/gp-partnership-programme/

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Ep 241: Partnership or Limited Company?!

In this episode of the Medics Money podcast, Dr. Cyra Mackintosh, a doctor and chartered accountant, discusses with Andy Pow, a medical specialist accountant, the differences between GP partnerships, limited companies, and LLPs. They delve into the pros and cons of each structure, including liability concerns, tax implications, and how they affect the financial operations of GP practices. The episode aims to provide up-and-coming GPs with fundamental knowledge to navigate the business aspects of GP practice effectively.

 

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00:00 Welcome to the Medics Money Podcast

00:50 Introduction to Andy Pow

01:57 Understanding GP Practice Structures

03:39 Pros and Cons of GP Partnerships

05:14 Limited Companies in the GP Space

07:03 Risks and Considerations for Limited Companies

11:07 Tax Implications of Limited Companies

22:57 Exploring Limited Liability Partnerships (LLPs)

27:16 Final Thoughts and Advice

Ep 240: 5 Questions to Ask Before Investing...

Tommy takes us through not what investments he owns, but 5 questions any doctor can ask before starting investing to get the right mindset secured!

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Ep 239: Labour's Halloween Budget Aims to Balance Tricks with Treats

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Ep 238: Remedial Pension Savings Statements... what do YOU need to do?!

Tommy and Andy take you through everything you've need to know and do if you have, or haven't yet, received a brown envelope in the post...

McCloud explained https://www.medicsmoney.co.uk/what-does-the-mccloud-judgement-mean-for-my-nhs-pension/

Find a Medics’ Money approved accountant to help https://www.medicsmoney.co.uk/medical-accountant/

HMRC triage tool (watch YouTube before using) https://www.gov.uk/guidance/calculate-your-public-service-pension-adjustment

 

Mastering NHS Pension Adjustments: Expert Guidance and Essential Steps

This episode provides a comprehensive guide to navigating the complexities of NHS pension adjustments in light of the McCloud remedy. Host Tommy, along with specialist Andy Pow, delve into the background and implications of recent pension changes, offering essential tips for recalculating annual allowance tax charges and understanding eligibility for compensation. They explain the use of triage tools, the submission process for revised tax data, and the importance of meeting deadlines to avoid penalties. The discussion also highlights difficulties NHS staff face in obtaining accurate pension data, especially in Scotland, and the necessity of seeking professional financial advice. Listeners are encouraged to verify their pension records, understand tax implications, and use resources like the Medics Money website for expert guidance. Practical steps for managing pension-related disclosures and avoiding common pitfalls are provided.

Ep 237: Maximising Tax Efficiency for Limited Companies: Expert Tips with Tori Fergusson

Tori from Honey Barrett Chartered Accountants takes us through limited companies for doctors today.

 

AI generated summary: Tori Fergusson

In this insightful episode, we dive into tax-efficient ways to extract money from a limited company and navigate HMRC compliance checks with Tori Fergusson from Honey Barrett Specialist Medical Accountants. We discuss directors' loans, employing spouses, avoiding tax investigations, and much more. Tune in to empower yourself with essential financial knowledge! Introduction & Listener Questions Welcoming Tori Fergusson Why Honey Barrett? Expert Discussion: Limited Companies Tax-Efficient Ways to Extract Money Compliance Interactions with HMRC Handling Information Notices Real-Life Case Studies Conclusion & Contact Information

Ep 236: Is your NHS payslip correct? NHS Pension Tax relief? Investing for your kids? - Q&A Episode!

Tommy and Ed dive into a Q&A session featuring queries from doctors at the recent Royal College of Obstetrics and Gynaecology National Trainees Conference. Topics covered include investing in children's Junior ISAs, the impact of pay errors on NHS pensions, the global diversification of the S&P 500, and the complexities of National Insurance for multi-employer doctors.

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Ep 235: Surviving a Crisis in GP Dr. Rebecca Keogh on GP Partnerships & Practice Management

Overcoming Challenges as a GP Partner ft. Dr. Rebecca Keogh

Join Dr. Tommy Perkins, Dr. Ed Cantelo, and Dr. Rebecca Keogh on the Medics' Money Podcast as they delve into the realities and challenges of being a GP partner running a practice. Dr. Keogh shares her journey through a challenging situation when her practice manager unexpectedly left, and how she navigated the crisis with the aid of the MedicsMoney GP partnership course. She discusses the importance of community support and professional help in handling the administrative and financial aspects of running a practice. Learn from her experience and gain insights into maintaining morale, managing finances, and adapting to unexpected changes in a healthcare setting. This episode is essential for healthcare professionals seeking to improve their practice management skills.

Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

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Want to improve your finances fast? Then come on our course

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GP partner looking to improve your practice/ Then come on our course

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00:00 Introduction to the Challenges of Being a GP Partner

01:26 Meet Dr. Rebecca Keogh: Overcoming Practice Challenges

02:16 The MedicsMoney GP Partnership Course Impact

02:50 Facing Unexpected Challenges: Practice Manager Departure

04:11 Navigating Financial and HR Responsibilities

16:56 Recruitment and HR Solutions

24:05 Reflecting on the Journey and Future Outlook

27:29 Conclusion and Final Thoughts

Ep 234: 2024 Budget Predictions - Which taxes will rise? CGT, Pensions tax, IHT and more

Predicting the 2024 Budget: Insights for Medics and Professionals

In this episode of the MedicsMoney podcast, Dr. Tommy Perkins and Dr. Ed Cantelo discuss the potential changes in the upcoming budget by Labour Chancellor Rachel Reeves. They delve into the implications of a £22 billion black hole on the economy, explore possible tax adjustments, and debate the future of capital gains tax, pension tax relief, and inheritance tax. The episode also includes insights into effective financial planning for doctors, emphasizing the importance of early action on ISAs and private pensions. This podcast is aimed at helping medical professionals navigate potential financial changes and make informed decisions.

Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

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Want to improve your finances fast? Then come on our course

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GP partner looking to improve your practice/ Then come on our course

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00:00 Introduction to the Upcoming Budget

00:21 Meet the Hosts and Their Summer Adventures

02:27 Discussing the Labour Government's 22 Billion Pound Black Hole

04:06 Current High Tax Burden and Predictions

09:36 Potential Changes in Capital Gains Tax

17:40 Speculations on Pension Tax Relief

24:21 Inheritance Tax and Other Speculations

33:28 Final Thoughts and Financial Advice

42:25 Conclusion and How to Stay Updated

 

Ep 231: This doctor TRANSFORMED their finances in 8 weeks?!

Tommy is joined by Rhoda from the Financial Wellbeing Course to explain how she revolutionised her finances in just 8 weeks? https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

Get paid for your Opinion here! 

Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

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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/

GP partner looking to improve your practice/ Then come on our course

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