Understanding NHS Pension Annual Allowance
The annual allowance is a limit on how much your pension can grow each tax year before you have to pay extra tax. As of April 2023, this limit is £60,000 for most NHS staff. However, if you’re a higher earner, your limit might be lower. If you earn more than £200,000 a year (after […]
Tax Deductions NHS Doctors can Claim
NHS doctors can claim various tax deductions to help manage their finances better. Here’s a straightforward explanation of what you can claim and how to do it. Key Eligible Expenses Professional memberships like BMA and GMC fees are fully tax-deductible. These are essential for your practice, so HMRC recognizes them as legitimate expenses. Work equipment […]
NHS Consultant Pay Guide
When doctors reach the pinnacle of their medical career as NHS consultants, they enter a complex but potentially rewarding payment structure. Let’s break down how these senior medical professionals are paid in straightforward terms. To become a consultant, doctors typically spend 8-10 years in specialized training after medical school, earning their Certificate of Completion of […]