The start of a new year always provides a chance to take a fresh look at what's going on around us and plan for the year ahead. With us in the busiest time of year for GPs, principals and practice managers though, you may not have as much planning time as you’d like.
A very welcome change to the rules around the NHS pension scheme will negate the need for thousands of doctors to cover annual five-figure tax bills.
The calculation of accounts for the first full financial year following the introduction of the updated IR35 tax regulations is now well underway. Their impact on the primary care sector is quickly becoming obvious - and lessons are being learned that all principals and practice managers would be well advised to heed.
They say that familiarity breeds contempt – and in the case of how unavoidable the letters G, D, P and R have been in recent months, it's probably fair to say that most of us have become pretty contemptuous.
With the primary care sector evolving at an ever-increasing pace, we've seen significant growth in the number of GP practices looking to reorganise their finances for many different reasons.
The start of a new financial year is always the catalyst for focusing the mind on money matters. So Richard Humphreys, director at RMT Healthcare has put together this handy article discussing changes to GP pension tax relief.
One of the issues in primary care we've noticed happening with more regularity in recent years is the handing back of contracts by primary care practices to the NHS. So what are the main factors you need to think about before taking that step?
Even before the recent ransomware attacks that paralysed large parts of the NHS, issues around cyber security were becoming a more and more regular component of conversations with our healthcare clients - and as you might imagine, since the WannaCry virus hit the headlines, such conversations have become even more common.
The Government's flagship Making Tax Digital initiative was first announced back in 2015, and as with all major undertakings of this sort, it has been far from a smooth ride towards implementation. Learn more about what it could mean for you and your practice here...
Working to detect and prevent fraud is sadly an everyday part of business life these days, and while GP practices might not seem like the most obvious targets for the criminals who carry out such enterprises, it's far from uncommon across the primary care sector.
Over the last few months, issues surrounding the employment status of people working for the likes of Uber and Deliveroo have been high on the business news agenda. While cab drivers and couriers might seem far removed from the world of primary care, we're expecting to see a number of similar instances arising in GP practices as some important new rule changes come into effect.
With NHS budgets remaining as tight as they've ever been, the details of the newly announced changes to the GP contract for 2017-18 have been eagerly awaited by everyone in primary care.
The results of a new survey of over 3,500 partners across England by the BMA have confirmed what anyone working in primary care has known for a long time - it's very difficult to recruit GPs and there are clearly currently not enough to go around.
Inspections of GP practices by the Care Quality Commission (CQC) have become an accepted part of the primary care life cycle but, as with anything else that features therein, there are operational and cost implications to be considered for both before and after inspections takes place.
Questions relating to property ownership in primary care have risen to the top of many practices' agendas in recent months, as the impact of the formation of NHS Property Services has become all too clear.
As the complexity of primary care finance and logistics becomes ever more byzantine, it's essential to have someone in place who has a very firm hand on the business tiller and whose commercial expertise allows GPs to get on with the clinical job in hand.
Formal mergers between GP practices have become an increasingly regular occurrence over the past few years, and it's a trend that has been driven by a range of different clinical and management.
The beginning of any new financial year inevitably brings a whole raft of changes to the tax system that need to be taken into account when you're reviewing your personal finances. But if you're a GP, and especially if you're in the later years of your career, changes that have just been introduced around your pension allowance require your swift and careful consideration.
In 2014, it was agreed that no new GP entrants would be admitted to this scheme, and that seniority payments would be gradually phased out over the remainder of the decade. A 15% year-on-year reduction was introduced in December last year, with a view to payments eventually disappearing altogether by 31 March 2020.
A second budget within a calendar year is highly unusual; however the chancellor unveiled the first Conservative-only Budget in nearly 20 years announcing a series of bold measures affecting business, tax and welfare. Many elements of the second budget will affect the GP Practice.