Medics Money podcast

Ep 244: Improve your finances FAST

https://www.medicsmoney.co.uk/fwb

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In this episode, the speakers discuss their previous live financial teaching sessions and announce two upcoming events where attendees can learn to fix their finances fast. They then replay the Q&A section from a recent session, addressing various questions about salary sacrifice and its impact on NHS pensions, annual allowance tax charges, student loan repayments versus investments, and more. The experts share insights on investment strategies, including the pros and cons of using ISAs and robo-advisors, as well as practical advice on managing GP pension records and making tax-efficient decisions. Detailed timestamps of the Q&A are provided to help listeners find specific information.

00:00 Introduction to Live Financial Teaching Sessions 00:30 Upcoming Live Sessions and Registration Details 00:53 Podcast Overview and Q&A Replay Announcement 02:30 Salary Sacrifice and NHS Pension Impact 04:18 Annual Allowance Tax Charge Explained 06:05 Student Loans: Pay Off or Invest? 08:56 Investment Strategies and Robo-Advisors 10:24 Pensionable Pay and Family Protection Benefits 14:51 Investment ISAs and Retirement Strategies 19:24 GP Pension Records and Fixing Gaps 23:02 Conclusion and Upcoming Webinars

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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

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

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Ep 243: How will the budget affect NHS doctors?

Now the dust has settled, let's find out how the dust will affect NHS doctors with special guest star Mike Harms from Medical and General IFA.

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

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

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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/

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

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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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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.

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

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

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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/

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: https://www.instagram.com/medicsmoney/

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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