One of our partners Ian Tongue is a regular contributor to Independent Practitioner and this month he covers 10 Financial Considerations for Succeeding in Private Practice in light of COVID19.
You can read his full article here
Remember, if you haven't paid your 31 July 2020 tax payment yet, you do not need to make payment until 31 January 2021. HMRC have been sending out the usual 31 July 2020 payment slips but have automatically changed the due date for payment to 31 January 2021.
If you would like to discuss your private practice please feel free to contact us
Cashflow is important for any business and for a GP Practice it can be vital when looking at Drawings Projections or simply planning the day to day finances of the practice.
Float is an online tool that links with Xero and can be used to forecast the cashflow of your practice. It can be pre-populated with your data and has proved invaluable for some of our GP Practices. You can also run multiple scenarios to see the impact of making different business choices on your practice cashflow. In our video below we explain Float in more detail.
The Annual Allowance is a complicated topic but here at Sandison Easson we have spent years understanding how the growth arises in the NHS Pension Scheme for Annual Allowance purposes. If you need any assistance planning to make the most of your Annual Allowances or preparing your Tax Return and/or Scheme Pays Elections then please get in touch.
Changes from April 2020 - Click here to watch our latest Annual Allowance webinar