Our specialist medical accounting team has partnered with Dr Tony Goldstone to support NHS pension members affected by the McCloud ruling and the impact on pension annual allowance tax.
Court rulings have determined that the movement of members from the NHS pension scheme to a new pension scheme in 2015 was illegal and for the period from 1 April 2015 to 31 March 2022 pension records are now being reinstated to either the 1995 or 2008 NHS pension schemes.
Research and development is at the heart of the pharmaceutical industry and, more generally, the wider life sciences sector. The significance of R&D to the life sciences sector is clearly evidenced by the cumulative R&D expenditure.
Companies operating in the pharmaceutical sector report on many different metrics and KPIs, including GAAP measures under IFRS, other financial Alternative Performance Measures (APMs) and other non-financial measures often linked to strategic objectives.
NHS GP and Consultant doctors have been impacted significantly from Annual Allowance pension tax charges. The budget in the Spring of 2023 announced changes for the tax year which commenced on 6 April 2023. In addition, there have been other changes outside of the tax regulations which will have impact, including a recent announcement for doctors completing their tax returns for 2022/23.
A large number of NHS consultants, GP’s, and other scheme members were required to transition to the 2015 scheme in the years from 2015 to 2022. Following a lengthy court process this was deemed discriminatory against younger unprotected members in what has come to be known as the McCloud judgment.
11/10/2023. In 2015, most public sector pension schemes, including the NHS Pension Scheme, experienced reforms. As a result, many members had to transition into new arrangements.
The ‘Back to basics’ series has returned, with our experts, Lee Simmonett and Kelsey Ross, on hand to showcase how Xero can support your practice's financial needs, whilst answering any questions you may have.
On 19 December, Scottish Finance Secretary Shona Robison unveiled the Scottish Government’s 2024/25 budget plans in what she described as turbulent circumstances.
In order to get pension record updated partners in GP practices and salaried GP’s are now required to submit an annual return of their pensionable income for the 2022/23 tax year. In addition, practices need to submit estimates of pensionable pay for the 2024/25 year ahead.
We are hosting three in-person events across Edinburgh, Glasgow and Dundee and would like to invite you to our conference tailored for GP Practice Managers.
10/11/2023. 2022/23 and 2023/24 have been difficult years for General Practice as income rises have not kept pace with cost increases.
In 2015, most public sector pension schemes, including the NHS Pension Scheme, experienced reforms. As a result, many members had to transition into new arrangements.
01/09/2023. Becoming a GP Locum can often mean a change in status from employed to self-employed. Have you considered everything from a tax and pensions perspective?
25/07/2023. If your practice is likely to be affected by Basis Period Reform (BPR) its important to know what your options are moving forward. Our team of experts have devised a series of FAQs to help answer a number of scenarios.
06/09/2023. Watch our webinar, where our experts explore how Basis Period Reform will impact your practice.
30/06/2023. If your practice year end is currently not in alignment with the tax year end of 5 April (or 31 March), then Basis Period Reform will impact you as an individual for tax and superannuation purposes.
Are you thinking of selling a residential property in the UK, which is not your main home? If you are, you should be mindful of the Capital Gains Tax (CGT) implications.
09/06/2023. Generally, investing in a GP surgery has always been seen as a stable long-term investment and that position has not changed despite short term economic pressures.
16/03/2023. The Chancellor, Jeremy Hunt has announced wholesale changes to pension legislation in the form of an increase in the Annual Allowance and plans to abolish the Lifetime Allowance.
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