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The hosts review Labour’s third budget of the Parliament (28 Oct 2026), the first under Prime Minister Andy Burnham and Chancellor John Healey, arguing it lacked big headlines but contained many detailed changes with potential impact for doctors. Core income tax thresholds remain frozen, continuing fiscal drag, while tax on rental and savings interest rises by 2% from April 2027 (dividend tax unchanged). The trading allowance increases from £1,000 to £3,000, and self-assessment payment timing is set to shift from 2029, affecting cash flow. From April 2028, the £2,500 employment-expense claim threshold requiring self-assessment is removed, and mileage rates are improved. ISA plans to cut cash ISA limits are scrapped; Lifetime ISAs are replaced in April 2029 with a first-time buyer ISA, with the >£450k withdrawal penalty abolished. CGT changes include cutting Business Asset Disposal Relief to £500k and introducing a limited founders relief. NHS measures are modest, with limited winter funding, robotics investment, and a productivity/AI review, amid ongoing pay tensions; cost-of-living steps include fuel duty and VAT cuts and an energy payment for bands A–D.

00:00 Budget Overview

02:22 Income Tax Changes

05:13 Self Assessment Shakeup

07:50 Claiming Work Expenses

10:17 ISA Rule Changes

12:32 Capital Gains Updates

15:50 NHS Funding Snapshot

18:00 Cost of Living Measures

20:04 Wrap Up and Takeaways

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In this episode Ed and Andy sit down to discuss the upcoming 28th of October Budget.

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Host Dr. Tommy Perkins is joined by Sarah Cook, a specialist medical solicitor from DR Solicitors, to unpack NHS England's recent consultation on the future of neighbourhood healthcare — a topic that could reshape how general practice is delivered.

Key topics covered:

1. The consultation at a glance — NHS England isn't asking whether neighbourhood healthcare is coming; it's asking who will deliver and control it. Two models are on the table: a Single Neighbourhood Provider (SNP) built on existing PCN footprints (~50,000 patients), and a Multi-Neighbourhood Provider (MNP) spanning multiple neighbourhoods (~250,000+ patients) that would coordinate a wide range of services across primary and community care.
2. Three SNP delivery routes — (1) Vary the existing PCN DES (already in regulations since May), (2) Have the PCN hold a single neighbourhood contract directly, or (3) Let an MNP sweep up services and subcontract them — the option GPs should most want to avoid.
3. Income & risk concerns — Dr. Perkins raises the fear that MNPs could strip away enhanced-service income (LESs, DESs) that practices rely on top of the frozen global sum. Sarah reassures that GMS/PMS contracts remain and PCN/ARRS funding is intended to be protected — but only if practices stay engaged and organised.
4. The legal entity question — Any SNP contract must be held by a legal entity. Since PCNs aren't legal entities, many are incorporating as limited companies to gain limited liability, cleaner governance, and the ability to hold contracts and employ staff (with NHS pension access confirmed).
5. Future of PCNs — PCNs are expected to evolve into neighbourhoods rather than disappear outright. A limited company structure gives practices future-proofing and flexibility for that transition.
6. What practices should do now — Assess your current organisational model, consider whether a limited company makes sense, read the consultation, and get both legal and accounting advice. DR Solicitors offers a free initial consultation and has a webinar on their website.

Bottom line: Neighbourhoods represent a potential growth opportunity for GP-led organisations — but only for practices that get structured and ready before contracts arrive. Those that disengage risk losing control and income to MNPs.

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Ed is joined by Cyra and Andy to tackle three financial topics for medics: the government's new "Your First Home" scheme and what first-time buyers need to know, HMRC's letters targeting doctors with consultancy income — what to do if you get one — and the surprisingly complex world of free childcare and funded hours. Plus, a little-known NICU parental leave entitlement most parents miss.

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Show notes:

Tommy interviews specialist medical accountant Steve Nichols (Nichols & Co, London) about how doctors can use limited companies for legitimate tax planning. Nichols explains the key advantage is flexibility over who gets paid, when, and how (dividends, salaries, director’s loans, liquidation, and pension contributions), and clarifies differences between shareholders, directors, and employees, including using alphabet shares to pay dividends to spouses or adult children. He notes limited companies aren’t always better due to costs and admin, especially for single high-earning sole traders who spend all income, and says suitability is bespoke. They discuss using companies and pensions to manage the £100,000 tax-free childcare cliff edge and the £200,000 pension taper threshold, “money box” companies using members’ voluntary liquidation to swap dividend income tax for capital gains tax, family investment companies (e.g., property), director’s loan accounts, and employing family members at commercial rates. Nichols also offers PDFs on allowable expenses, meals, and M&S vouchers, and shares contact details.

00:00 Tax Planning Teaser

01:01 Meet The Medical Accountant

02:24 Why Limited Companies Work

04:49 When It Is Not Worth It

08:37 Getting Paid From The Company

12:20 Shares Directors Employees

14:16 Setting Up The Company Right

16:57 Income Levels And Tradeoffs

18:41 Tax Free Childcare Cliff Edge

22:44 Private Only Doctors Strategy

26:53 Money Box Companies Explained

30:57 100k And 200k Cliff Edges

33:59 Family Investment Companies

39:06 Directors Loan Accounts

42:40 Employing Spouse And Kids

46:07 Perks PDFs And Wrap Up

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This week we welcome back GP partner Dr. Nabeel Arshad, founder of growyourlistsize.co.uk, to discuss urgent list-size losses from an “aggressive list clean” by PCSE, with the BMA estimating 300,000 patients removed and £40m in funding lost. Arshad explains FP69 flags and the three-month window to verify patients, noting many removals are erroneous and can drive staffing and profit pressures. He urges practices to run FP69 searches in EMIS/SystemOne, track list trends, and stop treating list size as passive. He outlines strategies to grow lists through marketing, optimizing estates capacity (his practice grew from 10,000 to 20,000 patients in the same building), attracting digitally literate demographics, managing out-of-area registrations without home visits, and reducing registration friction via fast online onboarding. He recommends using the site’s free growth report and describes exclusive-area working and a money-back guarantee.

00:00 Streamlining Patient Onboarding

01:08 List Cleansing Funding Shock

02:50 FP69 Flags Explained

05:50 Run the FP69 Search

07:15 Why List Size Is Active

09:37 Marketing to Grow Lists

11:44 Capacity and Estates Myths

14:24 Out of Area Patient Strategy

15:52 Digital Front Door Fixes

18:13 Free Growth Report Next Steps

20:34 Guarantee and Exclusivity

22:00 Wrap Up and Call to Action

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Find out if you can claim tax relief with this list: https://www.gov.uk/government/publications/professional-bodies-approved-for-tax-relief-list-3

Sanay (incoming F1) and Cyra (doctor and chartered accountant) explain how doctors can get money back via HMRC tax relief and NHS reimbursements. Cyra advises tracking professional expenses in a spreadsheet across the tax year (6 April–5 April) and applying online at year-end, noting HMRC may adjust your tax code. Eligible tax-relief items include GMC, Royal College and BMA fees (including exams but not revision courses), some recognized memberships, subsequent stethoscopes, plus a flat £80 NHS doctor work expense; question banks aren’t eligible. They contrast this with employer-funded study budgets (e.g., ALS), which generally aren’t tax-relievable. They also outline relocation expenses up to £10,000 across training, common caps, the need for pre-approval and evidence, tips on comparable mover quotes, and the importance of understanding excess mileage policies.

00:00 Welcome and Series Intro

00:51 Episode Focus Reimbursements

01:31 Meet Saira the Expert

02:10 Tax Relief Basics HMRC

04:00 What You Can Claim

05:16 Evidence and Flat Rate

06:12 Study Budget vs Tax Relief

07:42 Memberships from Med School

08:40 Relocation Expenses Explained

11:08 Relocation Application Pitfalls

13:06 Mover Quotes Pro Tip

14:25 Excess Mileage and Final Takeaways

15:59 Wrap Up and Next Episode

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A Medic's Money MDT episode with Tommy Perkins, Dr Cyra Asher, Andy Pow, and Ed. The team breaks down three live financial stories affecting doctors right now: the £100,000 tax trap, the huge amount of cash sitting in low interest accounts, and the NHS pension scheme's reported surplus. It is practical, opinionated, and focused on what these headlines mean for clinicians in real life.

• In this episode, Ed explains how the £100,000 tax trap works and why income above that level can effectively face a 60% tax rate in England, or 67.5% in Scotland, because of the tapering personal allowance.
• The team discusses how frozen thresholds have pulled far more people into the trap over time, with the threshold now affecting a much larger share of earners than when it was introduced.
• Cyra and Andy talk through the knock on effects for doctors, including tax free childcare, childcare hours in England, and child benefit, all of which can disappear at different income points.
• Practical mitigation ideas are covered, including monitoring annual earnings, additional pension contributions, gift aid, and claiming professional expenses properly.
• Ed and Andy emphasize that many doctors still have not claimed expenses back, despite a Medics Money guide being widely downloaded and potentially saving substantial tax overall.
• The discussion moves to working less as a legitimate strategy, with Cyra noting that reducing hours does not always reduce take home pay as much as people fear.
• Tommy raises the option of private work and limited companies outside the NHS, while Andy cautions that company structures need proper advice and compliance.
• The second topic looks at the £1.1 trillion held in cash and easy access savings, where average returns are far below inflation, meaning real value is being eroded.
• Tommy argues that keeping large sums in cash feels safe but often loses value over time, and he contrasts that with the long term growth potential of broad market investing.
• Cyra adds the millennial perspective, explaining how financial crisis, recession, and pandemic experiences make many younger savers deeply risk averse.
• The final discussion focuses on the NHS pension scheme's reported £7.38 billion surplus and the planned reduction in employer contribution rates in England and Wales from 23.7% to 15.5%.
• The team debates what should happen with that surplus, from improving NHS pay and services to reducing employee contributions or fixing pension administration.
• Tommy strongly pushes for a better pensions portal and clearer statements, arguing that the current NHS pension admin and forecasting tools are far too opaque.
• Andy explains that projected pension figures need caution because pay, hours, inflation, and retirement timing can all shift substantially before benefits are taken.
• The episode ends with a wider critique of annual allowance tax charges, with the group arguing that the current system is overly complex and punitive.

00:00 - Welcome back to the MDT style podcast and today's three live money stories

02:07 - How the £100,000 tax trap works and why it keeps growing

03:31 - Frozen thresholds and why more earners are getting caught

04:21 - Childcare cliff edges, child benefit, and other hidden losses

05:21 - Why marginal tax plus student loans

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In this episode, Cyra sits down with Shivali, a senior private client lawyer at Talbots specialising in wills, estates, trusts, and tax, for a deep dive into inheritance tax (IHT). They cover the basics — how IHT is calculated and the 40% rate — then move into practical strategies: lifetime gifts (exempt gifts, annual exemptions, gifts out of income), chargeable lifetime transfers, and potentially exempt transfers (the seven-year rule). Shivali also breaks down available reliefs like the nil rate band and residence nil rate band, explains how trusts work and when they make sense, clears up common misconceptions about IHT and control over trust assets, and shares why getting a lasting power of attorney sorted early is so important. A practical, must-listen guide for anyone thinking about protecting their estate and loved ones.

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In this episode, Ed GP, chartered accountant and tax advisor) and Andy Pow (specialist medical accountant with 30+ years advising doctors) break down everything employed NHS doctors need to know about claiming tax relief on their work expenses — including the latest changes following the BMA–government agreement.

What's covered:

• Which expenses qualify for tax relief: GMC fees, BMA membership, medical defence/indemnity, Royal College fees, NHS pension contributions, and eligible travel
• The HMRC "wholly, exclusively and necessarily" test — and why it rules out CPD, conferences, and courses like ALS/ATLS
• How much you could get back: up to 40% of qualifying expenses if you're a higher-rate taxpayer
• Claiming for up to 4 previous tax years — you can go back to April 2022
• New for English resident doctors: Exam fees reimbursed from April 2026; Royal College membership and portfolio fees from April 2027 — and what this means for your tax claim
• How to make a claim via your HMRC Personal Tax Account (and the new step you can't miss to actually receive your refund)
• When you need to file a Self Assessment return instead

Download the Medics' Money Doctor's Tax Rebate Guide (30,000+ downloads) — link above.

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Mentioned in this episode:

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Check Aserix out here: https://asterix.health/

Tommy is joined by Julian, co-founder of Astrix Health, a startup tackling the NHS GP shortage by bringing GMC-registered doctors working abroad back into the UK primary care workforce — remotely.

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Join Medics' Money with a free guide here: https://medicsmoney.co.uk/free-guide/

In part two of the Medics' Money New Doctors' Finance series, Dr. Ed Cantelo sits down with specialist medical accountant Andy Pow to break down the NHS pension.

Topics covered:

• What the NHS pension is and how the 2015 defined benefit scheme works
• How contributions are calculated (tiered rates, tax relief)
• Why the pension isn't invested — how the scheme is funded
• Where to check your pension record (Total Reward Statement) and what documents to keep (P60s, P45s, payslips)
• Family and ill-health protections built into the scheme
• The risks of opting out
• Retirement age, early/late retirement, and partial retirement options
• Where to find more resources (medicsmoney.co.uk, YouTube)

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Mentioned in this episode:

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Get your free guide here: https://medicsmoney.co.uk/free-guide/

Starting a new rotation, or FY1, is exciting, overwhelming, new payslips, and filled with a whole lot of new questions. In this episode, freshly qualified Dr. Sanay Goyal sits down with chartered accountant (and doctor!) Cyra from Medics' Money to break down exactly what every new FY1 needs to know before hitting the wards.

From budgeting your first "grown-up" payslip and building an emergency fund, to understanding ISAs, Lifetime ISAs, and how to make your money work as hard as you do — this is the financial survival guide every new doctor needs as they rotate into their first placements.

Whether you're heading into your very first rotation or just trying to get your finances sorted before day one, this episode is packed with practical tips to set you up for success.

In this episode:

• Budgeting tips for your first NHS payslip
• Building an emergency fund before you start investing
• A breakdown of Cash ISAs, Stocks & Shares ISAs, and Lifetime ISAs
• Why saving habits matter most as you head into new rotations

Congratulations to all the new FY1s starting this year — welcome to the profession!

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Mentioned in this episode:

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This week, Cyra (a chartered accountant and doctor) interviews Donna Butler, a technical support solicitor at Talbots Law, about why buying and selling property is so slow and stressful. Donna outlines common transactions (sales, purchases, remortgages, transfers of equity, buy-to-lets) and explains the behind-the-scenes parties solicitors deal with. She defines core property searches (local authority, water and drainage, environmental) and optional searches (e.g., mining, agricultural), and distinguishes searches from inquiries raised on contract papers, title, forms, and guarantees. Donna explains how solicitors contextualize results, when indemnity insurance is used or unsuitable (e.g., agricultural occupancy restrictions), and that solicitors act for both buyer and lender. She clarifies exchange vs completion, deposits, fund movements, vacant possession, post-completion steps (stamp duty return, Land Registry, management company notices), common causes of chain collapse, and advises early instruction, quick ID/source-of-funds responses, preparation of documents, and not chasing solicitors daily.

00:00 Welcome and guest intro

01:22 What conveyancers handle

02:42 Mover vs solicitor view

04:55 Property searches explained

08:47 Interpreting search results

11:26 Listed homes and detective work

13:19 Management companies and fees

15:40 Inquiries vs searches

17:42 Indemnity insurance basics

20:56 Mortgage offers and lender panels

24:28 Exchange vs completion

26:39 Exchange Day Reality

27:30 Packing and Planning

28:25 Deposits and Fund Flow

31:32 Completion Day Rules

33:03 After Completion Paperwork

34:54 Speeding Up Your Sale

36:51 Red Tape and ID Checks

38:41 Why Chains Collapse

41:29 Gazumping and Gazundering

44:12 Chasing Solicitors Myth

46:52 Top Tips Recap

49:03 Final Thanks and Wrap

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Mentioned in this episode:

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Cyra (a doctor and chartered accountant) hosts GP Dr Steve Taylor and specialist medical adviser Andy Pow to discuss UK general practice finances. They describe long-term underfunding, noting average practice income rose from £152 to £169 per patient since 2015 but would be ~£209 if it had tracked CPI, alongside rising workload and patients per GP (about 2,000 to 2,300). They explain circular funding changes, staffing pay pressures, the imposed contract, and concerns about advice-and-guidance replacing referrals without extra resource. Andy outlines how the Carr-Hill (global sum) weighting can mean some practices are paid for fewer patients (e.g., 83%), with a review pending that could redistribute money without new investment. They warn of practice closures, rural access issues, private providers buying contracts, low morale (99% contract rejection), and argue for additional funding, autonomy, and proper consultation on reforms.

00:00 Welcome and Guests 02:04 Underfunding Explained 05:05 Contract Uplift Reality 09:04 Car Hill Formula Basics 13:21 Funding Streams and Workload 14:39 GP Workforce Paradox 17:02 Partnership Pressures 20:14 Trust and Investment Case 23:22 Closures and Private Providers 27:09 Morale and Central Impositions 30:25 Contract Positives 33:04 Final Thoughts and Thanks Want the latest financial tips for doctors and exclusive invites?

Join 71,000 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/ Want to find out more about our other courses? www.medicsmoney.co.uk/courses Follow us on Instagram Follow us on Twitter **Disclaimer:** The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

DISCLAIMER: This channel is for education purposes only and does not constitute financial advice and tax allowances and rates are subject to change.

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This episode (originally from the GP Practice Finance Course) features Scottish experts Dawn Laird and Colin Malone from Forvis Mazars explaining key elements of the Scottish GP contract and practice finance. They outline NHS Health Board income streams shown on monthly statements, including global sum (the largest), enhanced services, reimbursements, and deductions for seniority and superannuation. They describe how the Scottish workload formula values patients (especially by age, plus uplifts for new registrations and care homes) and note trends of rolling income into global sum, plus Scottish Government plans for £148m recurring funding by 2028–29 focused on workforce, locum cover reimbursement from day one, expense reimbursement, cloud-based telephony, and health inequalities. They review major costs (staffing and premises), practice structures (partnerships, LLPs, limited companies and superannuation implications), premises loans and grants, superannuation processes and opting out considerations, seniority rules, and pension administration via SPPA Engage, McCloud remedy statements, benefit statement timing, and retirement options.

00:00 Welcome and Course Intro

00:47 Meet the Experts

02:04 NHS Income Streams Explained

04:06 Global Sum and Workload Formula

06:51 New Funding and Contract Changes

11:05 Key Costs Staff and Premises

14:45 Practice Structures Partnership LLP Ltd

21:58 Premises Loans and Grants

26:40 Superannuation Basics and Planning

35:44 Seniority Rules and Session Changes

37:13 SPPA Portal and McLeod Updates

42:04 Retirement Options Partial and Return

46:04 Wrap Up and Q&A

Mentioned in this episode:

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Find a Solicitor here: https://medicsmoney.co.uk/medical-solicitor/

Cyra hosts Trish Venables, a solicitor at Talbots Law, to explain asset protection as maximising assets preserved for descendants and shielding them from risks such as divorce, care home fees, and means-tested benefits rules. Trish describes discretionary trusts set up in life or via a will, where beneficiaries have no absolute entitlement, supported by private letters of wishes, helping reduce exposure in divorce and allowing disabled beneficiaries to receive support without losing benefits. She outlines practicalities, including trustee selection, Trust Registration Service registration, and inheritance tax (IHT) implications such as a 20% lifetime entry charge above the £325,000 threshold and the seven-year rule. She warns that putting a home into a lifetime trust while continuing to live there can be challenged as deprivation of assets and a gift with reservation; instead, a will-based life interest trust over a severed 50% share may ring-fence value from care assessments. They discuss gifting from surplus income, and Trish notes NHS defined benefit pensions likely face no immediate IHT change, unlike some defined contribution schemes, pending legislation.

00:00 Welcome and Guest Intro

01:03 What Asset Protection Means

02:23 Trusts for Divorce and Benefits

04:19 How Discretionary Trusts Work

05:45 Setting Up Trusts and IHT

08:23 Care Fees and Home Trust Pitfalls

10:46 Will Planning Life Interest Trusts

12:08 Surplus Income Gifting Strategy

14:16 NHS Pensions and IHT Changes

19:11 Costs and Choosing Trustees

22:13 Final Thanks and Wrap Up

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Mentioned in this episode:

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On this episode, Cyra is joined by GP Dr. Steve Taylor and specialist medical accountant Andy Pow to discuss Steve’s difficult experience getting his NHS pension sorted ahead of semi-retirement at 60 under the older scheme. Steve discovered missing years and incomplete details in his pension record after requesting the data held on him, leading to a year of back-and-forth to correct errors, plus complications from the McCloud remedy and an £11,000 adjustment. He also faced delays and confusion in the application process (AW8), including being told he applied too early by three days and receiving little clarity on payment amounts or timing. Andy explains how errors and gaps are common, advises checking records early via My NHS Pension and PCSE Online, and stresses keeping annual statements, returns, P60s, and March payslips.

00:00 Welcome and Setup

00:41 Meet Steve and Andy

02:04 Missing Pension Years

05:06 Applying and Silence

06:29 McCloud Remedy Mess

07:49 Start Checking Early

11:20 How to Check Records

13:47 What Documents to Keep

16:49 Estimating Your Pension

19:12 Wrap Up and Resources

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Mentioned in this episode:

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https://medicsmoney.co.uk/pastest/

In this very special episode, we have exciting news.

Andy Pow hosts this week's podcast with Forvis Mazars healthcare accountants Dawn Laird and Lee Simmonett to explain Making Tax Digital (MTD) for income tax, described as the biggest change since the 1990s and arriving in 2026, with around three-quarters of affected taxpayers not registered. MTD currently applies mainly to self-employed clinicians such as GP locums (and some consultants with self-employed private practice) and to property income; it does not directly affect partnerships or limited companies. The trigger is cumulative income over £50,000 (before expenses), including combined self-employment and rental income, with thresholds falling to £30,000 then £20,000. Recipients must register separately (not auto-enrolled). Quarterly submissions start with the first due 7 August, plus a final declaration; tax payment dates remain January and July. Spreadsheets require bridging software; digital tools like Xero are recommended. Penalties begin next year: one point per missed quarterly submission, £200 at four points, lasting 24 months.

00:00 MTD Shockwave 2026

01:23 Who Must Comply

02:37 Income Thresholds Explained

05:15 Registering With HMRC

06:35 Quarterly Deadlines

07:10 Software Vs Spreadsheets

08:53 Final Declaration Basics

11:40 Penalties And Compliance

16:10 Rental Income Complications

20:12 New Businesses And Voluntary

21:45 Top Tips To Prepare

23:57 Accountant Support Options

26:51 Final Wrap Up

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Mentioned in this episode:

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This week's guest: https://nichols.co.uk/

This week we cover how NHS doctors, especially consultants with private work or side hustles, can use a “money box company” (a limited company/personal service company) to bridge the gap to retiring before the NHS pension age and to plan taxes flexibly. Steve Nichols explains that keeping private income in a company can help avoid the £100,000 “tax trap,” preserve tax-free childcare, and legitimately split income by paying a spouse salary/dividends (including NI credits). The conversation covers paying university (but not school) fees via benefits-in-kind for an over-18 child working for the company or via dividends using appropriate share classes. They also explain director’s loan accounts as legal borrowing from the company with interest and Section 455 tax cashflow implications. For higher earners, routing private income through a company can mitigate pension tapering exposure and allow accumulating profits to extract later via members’ voluntary liquidation at lower capital gains tax rates than dividends, subject to anti-avoidance rules and genuine cessation of private practice.

00:00 Retire Before NHS Age

01:41 Money Box Company Basics

03:17 Flexibility And Tax Levers

07:20 When To Set One Up

08:03 Beat The 100k Trap

12:36 School Vs University Fees

19:53 Directors Loan Accounts

27:19 Avoid Pension Tapering

31:05 Liquidation And CGT Exit

35:13 Wrap Up And Warnings

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Mentioned in this episode:

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Tommy and Ed were invited to speak at the Association of Independent Specialist Medical Accountants (AISMA) Conference, then Tommy roamed around finding experts to interview in true Medics' Money style! AISMA chair Lizzie Lloyd highlights sessions on funding, tax and collaboration, advising doctors to focus on upcoming 2026/27 contract changes, budgeting and planning despite limited detail on the new GP scheme and “neighbourhoods.” Medics' Money legend Andy Pow says the conference focus is neighbourhoods but details remain unclear, notes major funding differences across the UK nations, flags Making Tax Digital, and warns uncertainty around the Carr-Hill formula and rising workload from advice-and-guidance and digital access without matching funding. Pete Farrier explains benchmarking, regional and practice-model variance, and improving finances via claims, effective PCN/federation working, and staffing/partnering. Sarah Edwards outlines AISMA’s Next Gen/AISMA Academy training videos for medical accounts. Will Ellis of BW Healthcare Surveyors stresses that ~89% of practices are underpaid on notional rent, offers no-win-no-fee checks, and recommends reviewing every three years.

00:00 Conference Intro

01:27 Meet The AISMA Chair

02:31 GP Contract Uncertainty

04:04 Andy Pow On Funding

06:32 Contracts Workload Pressures

07:56 Benchmarking GP Performance

09:43 Boosting Practice Earnings

11:45 Private Work And Tax Planning

13:49 AISMA Next Gen Academy

16:51 Premises And Notional Rent

19:28 Final Takeaways

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This week, Cyra (doctor and chartered accountant) interviews Cleo Nedd, a personal wealth strategist who helps high-achieving women turn income into lasting wealth and reduce reliance on exchanging time for money. Reflecting after International Women’s Day, they discuss how virtue signaling fails to close ongoing gaps in women’s financial access, confidence, and industry inclusion, shaped by the fact that women have only had independent banking and investing access for just over 50 years. Sarah shares subtle bias she experienced with mortgage brokers, estate agents, and solicitors, while Cleo highlights micro-aggressions, women self-disqualifying, and the male-dominated financial advisory sector. Cleo reframes higher income as requiring “added subtraction,” clearer personal money principles over rule-based advice, and better communication with partners. She also describes teaching children budgeting language and delayed gratification.

00:00 Welcome and Introductions

00:53 FU Money for Women

02:02 Beyond Managing to Owning

04:51 Why IWD Feels Hollow

07:51 Microaggressions in Money

11:52 Industry Barriers and Self Doubt

14:32 Radical Responsibility Mindset

18:38 Holding Wealth as Income Grows

24:12 Money Clarity with Partners

29:07 Principles Over Rules

32:18 Ethics and Investing Choices

34:18 Teaching Kids Money Habits

38:03 Wrap Up and Next Steps

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**Disclaimer:** The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

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Dr Natasha Holmes on Leaving the NHS and Moving to Cyprus: Push–Pull Factors, Risk, and What’s Next? On the Medics' Money podcast, Cyra chats with Dr Natasha Holmes, an FY10 pediatric locum/bank registrar, life coach, and co-creator of The Fully Well Doc Pod, who announces she is leaving the NHS and the UK after what she believes was her last NHS shift. Natasha explains her decision as a long “push–pull” transformation: reduced fulfillment from worsening NHS conditions and greater fulfillment from coaching, alongside pull factors including moving to Cyprus (where she grew up) for community, supporting aging parents, lower living costs, better savings prospects, and to explore starting a business and possibly medicine there. She discusses identity and mental health struggles during FY2, the need to prove she could do the job, and realizing colleagues often feel excited to work while she generally doesn’t. Natasha outlines risk mitigation via two years of savings, family housing/support, and a remote-working partner, and plans to maintain GMC registration through upcoming revalidation while exploring Cyprus requirements. They address public misconceptions about “paying back taxpayers,” medical training costs, limited training posts, and shared frustrations about NHS conditions; she leaves in 35 days on a one-way ticket and has received mostly supportive responses.

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The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

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For MTD advice and to ensure compliance, contact Azets here: https://hubs.la/Q04dwtwK0

Making Tax Digital for Income Tax: What UK Doctors Need to Know (MTD for Income Tax 2026) The Medics' Money podcast discusses Making Tax Digital for Income Tax (MTD for Income Tax), described as the biggest UK tax filing change for doctors since the late 1990s, with guests Adrian Cousens and Anita Holmes from specialist medical accountants Azets. They explain that from 6 April 2026, individuals with over £50,000 of combined qualifying turnover (sole trade/self-employment and rental income, based on 2024/25) must keep digital records using HMRC-approved software and submit four quarterly updates plus a final annual return, with the first quarterly deadline on 7 August 2026. Partnerships (including GP partnerships) and limited company income are not initially in scope, but GP partners may still be affected by outside sole trade or rental income; thresholds later drop to £30,000 and then £20,000. Key advice is to prepare early, consider moving from spreadsheets to software, manage new deadlines, and seek specialist advisor support.

00:00 MTD Big Change Intro

01:00 Meet The Experts

02:50 What Is MTD for Income Tax

03:51 Why Act Now

05:29 Beta Lessons And Wins

07:50 Who Is In Scope

11:18 Key Dates And Deadlines

11:50 Digital Records And Software

13:27 Quarterly Updates Explained

14:16 Not Ready Soft Landing

16:25 Pain Points And What To Report

21:07 Accountant Roles And Packages

22:52 Thresholds Future Scope Rules

27:04 Final Advice And Wrap Up

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https://www.growyourlistsize.co.uk/

On the Medics’ Money Podcast, GP partner Dr Nabeel Arshad of Brooks Surgery in Manchester discusses how his practice doubled its patient list from 10,000 to 20,000 over five years, contributing to over £1.9m in recurring revenue and enabling reinvestment in more doctors, trainees, specialist staff, and technology while increasing partner take-home and maintaining access and high patient satisfaction. He explains why profit matters for partnership sustainability and why income streams tied to clinician time (insurance reports, teaching, joint injections) don’t scale and can be withdrawn, whereas list size is more stable and supports further income via QOF, ARRS/PCN budgets. He outlines his GrowYourListSize.co.uk service, including eligibility screening, controlled growth, geographic exclusivity, a six-month money-back guarantee, and a free practice growth report.

00:00 Meet Dr Nabeel Arshad

01:51 Why Working Harder Fails

05:00 Scaling With Systems

07:35 The Numbers Behind Growth

10:42 Google Reviews Matter

14:24 Recurring Revenue Security

17:26 PCN And QOF Upside

18:44 Succession And Recruitment

21:38 Service Guarantee And Exclusivity

24:23 Controlled Growth And Setup

27:00 Free Growth Report CTA

29:01 Quickfire Future Of GP

31:06 Wrap Up And Where To Find

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Join the course with a discount: https://medics-money-partnership.circle.so/checkout/financial-wellbeing-course-7?coupon_code=FWBEARLY

The podcast features Dr. Nadia Ekong discussing what she learned on the Financial Wellbeing course and how she applies it to her family, covering budgeting, saving, investing, and teaching children about money. She contrasts growing up with unspoken expectations that academic success would guarantee financial security with the modern reality of taxes, spending, and the need to manage income intentionally. Key takeaways include planning finances prospectively using the Medics Money financial dashboard, adopting mindset shifts such as understanding the true value of “£1” after tax and the real cost of purchases, and using evidence-based, passive investing. She describes practical steps for kids: piggy banks, GoHenry and Starling Kite accounts, goal-based “pots,” and reading Grandpa’s Fortune Fable to introduce long-term investing. They also discuss pocket money approaches and recommend E is for Ethics for teaching morals through stories and guided questions.

00:00 Episode Overview

01:21 Meet Dr Nadia Ekong

01:56 Early Money Lessons

03:01 Doctor Pay Reality Check

04:49 Course Takeaways

07:54 Teaching Kids Money

09:25 Investing With Stories

11:47 Pocket Money Debate

15:19 Ethics For Kids Book

18:04 Top Tips And Wrap

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

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https://ashlane.co.uk/medics-money-4-3-million-underpayment-for-flu-vaccines/

The Medics' Money podcast interviews Harriet Hole from Ash Lane Consulting about GP practices losing income due to complex NHS drug reimbursement processes for personally administered items (e.g., vaccines, injections, devices). Hole explains how practices buy and administer items, print FP10s, send FP34 and vaccine appendices, and get paid by PCSE later, noting errors can occur at many points. Ash Lane identified that for the 2025/26 flu season around 900 practices were underpaid, averaging £4,800 each (over £4 million total), often due to being reimbursed for the wrong flu vaccine; they offer a free 30-second check via a link in the show notes. The episode discusses whether flu remains profitable (margins have fallen) and gives tips to reduce wastage, ensure correct claiming (copy wording from vaccine boxes), reconcile claims to payments, send claims special delivery, avoid under-claiming, and monitor supplier pricing and profit margins.

00:00 GPs Missing Millions

02:00 Meet Ash Lane Consulting

03:21 How Drug Reimbursement Works

05:54 Flu Season Underpayments

07:37 Free Flu Payment Check

09:22 Is Flu Still Profitable

11:54 Flu Campaign Best Practices

17:36 Beyond Flu Drug Profits

24:26 Supplier Pricing Tips

26:16 Benchmarks and Final Call

28:40 Wrap Up and Goodbye

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The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

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On this week's Medics' Money podcast, host Cyra (a chartered accountant and doctor) interviews BMA UK Resident Doctor's Committee leaders Shiv (deputy chair, psychiatry ST3) and Arjun (education and training co–deputy chair, BMA director) about ongoing resident doctor strikes. They say negotiations after December strikes were initially constructive but collapsed when the government shifted a proposed pay investment from two years to three, reduced it, and labeled it a “best and final offer,” then refused to negotiate while strikes were called. They criticise the Prime Minister’s removal of 1,000 training posts, warning it worsens workforce shortages, creates bottlenecks, and harms patients. They discuss job insecurity, doctor substitution, training capacity concerns, and NHS mismanagement and waste, arguing a credible pay offer and clear plans for training posts and progression are needed to end strikes.

00:00 Training Posts Cut Fallout

01:04 Podcast Intro and Guests

02:16 Why Resident Doctors Strike

05:17 Talks Breakdown and Pay

08:23 Jobs Bottlenecks and Trust

12:59 NHS Decline and Waste

16:22 Doctor Substitution Risks

23:25 Ending Strikes and Deal Terms

26:37 Strike Timing and Consultants

30:41 Costs and Devaluation Claims

32:40 Tiered Care and Culture

34:25 Personal Stories and Closing

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The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

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This is a replay of episode 267 to promote the next Financial Wellbeing course starting soon! Head here for more details:

https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

In this episode of the Medics' Money podcast, hosts welcome Dr. Kate Rothwell, a haematology consultant, who shares her experiences from the Medics' Money Financial Wellbeing course. The discussion covers practical financial tips, including dealing with misallocated back pay and tax traps, and the significance of knowing when and how income should be taxed. Dr. Rothwell recounts battling payroll issues and the importance of proactively managing one's finances, especially regarding pensions and investment strategies. The episode emphasizes the value of collective knowledge and persistence in handling financial matters, highlighting stories of errors corrected and financial knowledge gained. Listeners are encouraged to openly discuss and manage their finances to make informed decisions, leveraging resources like Medics' Money to navigate their financial journeys effectively.

00:00 Introduction and Overview

00:16 Back Pay Issues and Tax Traps

00:40 Pensions Taxation Explained

00:46 Investing Mindset and Tips

00:53 Impact of Financial Wellbeing

01:58 Guest Introduction: Dr. Kate Rothwell

02:46 Personal Financial Journey

05:25 Navigating Tax Challenges

18:00 Persistence with HMRC

23:42 Investing and Financial Planning

28:05 The Importance of Financial Knowledge

42:02 Conclusion and Final Thoughts

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Get in touch with Talbots Law: https://medicsmoney.co.uk/medical-solicitor/

This week's episode discusses divorce from a legal perspective with Karen and Rita from Talbots Law, outlining what to expect, why legal advice can help, and what people can do themselves under no-fault divorce. They explain timing (about six months for the divorce, often 9–12+ months for contested finances/children), ways to avoid court (negotiation, mediation, collaborative law), and court safeguards where there is domestic abuse. They cover how courts approach children and finances (needs and Section 25 factors), note child maintenance is usually handled by the Child Maintenance Service, and emphasize NHS pensions as major assets often needing a jointly instructed neutral actuary report, with pension sharing or offsetting options. They also mention disclosure of private practice income, updating wills, risks if someone dies before finalisation, avoiding new asset purchases before a clean break, and the value of communication.

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

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The BMA join us today to discuss the looming disaster and negotiations with the government for General Practice. Want the latest financial tips for doctors and exclusive invites? Join 71,000 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/ Want to find out more about our other courses? http://www.medicsmoney.co.uk/courses Follow us on Instagram https://www.instagram.com/medicsmoney/ Follow us on Twitter https://x.com/medicsmoney **Disclaimer:** The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

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Over 6,000 doctors competed our state of medics money survey into doctors finances and only 29% of you had a will. So today we’re going to show you how to get a will using the same solicitors that we use and the links to do this online or phone Trusts, estate planning, downsizing.

Contact Talbots Law: 01384 447774

https://medicsmoney.co.uk/will-writing-service-for-medical-professionals/

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

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Mentioned in this episode:

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PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

Ed (a salaried GP, chartered accountant and tax advisor) and Andy (specialist medical accountant) outline 10 pre–tax-year-end considerations for healthcare professionals before 5 April 2026: claim missed employment-expense tax rebates for 2021–22 before the deadline; monitor adjusted net income around £100,000 to avoid personal allowance taper and childcare impacts, using pension contributions or Gift Aid where relevant; maximise ISA allowances (£20,000, including up to £4,000 Lifetime ISA, with cash ISA limits for under-65s changing from April 2027) and consider Junior ISAs (£9,000); transfer income-producing assets to a spouse/civil partner to use lower tax bands; use the £3,000 CGT allowance if selling assets; watch NHS pension annual allowance and tapered annual allowance issues near £200,000; consider inheritance tax gifting exemptions (£3,000 per year, plus prior year); plan limited-company dividends before dividend tax rates rise on 6 April 2026; and prepare for Making Tax Digital from 6 April 2026 for qualifying self-employed or rental income over £50,000.

Want the latest financial tips for doctors and exclusive invites? Join 71,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

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Mentioned in this episode:

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Check out Vallour: Vallour Healthcare Services

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

In this episode, Tommy interviews Valeed, a GP partner in Manchester and CEO of Vallour, about outsourcing support for NHS general practice. Vallour provides outsourced document processing, prescription and medicines management, pharmacy-led chronic disease work, and pathology management, aiming to avoid work “boomeranging” back to practices by using on-call leads and autonomous clinicians who can take responsibility and prescribe. Valeed explains their pathology service focuses on abnormal as well as normal results via a calibration step with each practice to set thresholds, guidance choices, messaging, and risk appetite, creating bespoke statements of work. They discuss optimizing skill mix, reducing unnecessary routine work, and using existing tech better, with interoperability as a key barrier. Valeed also describes Vallour’s work in CPD education, helping practices become research-ready for NIHR and commercial trials (including patient recruitment for underrepresented groups), and developing clinical decision-support software. 

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Mentioned in this episode:

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Fix your NHS Pension FAST: www.medicsmoney.co.uk/pension

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

In this podcast, Tommy Perkins, Dr. Tony Goldstone, and Andy Pow discuss the critical tax planning opportunities available before the end of the 2025-2026 tax year. They delve into the complexities of the annual allowance, its implications for high earners, and the importance of understanding one's pension growth. The conversation emphasises the need for proactive financial management, the potential for tax charges, and the various strategies available to mitigate these impacts. The hosts also introduce a new course aimed at educating medical professionals on navigating their financial landscape effectively.

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Mentioned in this episode:

Start Investing Here

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PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

In this episode, Tommy Perkins and Andrew Fenton discuss various financial questions that doctors face, particularly in light of recent budget changes. They cover topics such as managing earnings over £100,000, starting a new aesthetics business, understanding VAT implications, and the differences between operating as a sole trader versus a limited company. The conversation emphasises the importance of tax efficiency and proper financial planning for medical professionals.

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Mentioned in this episode:

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PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

In this episode of the Medics Money podcast, Cyra, Shivam, and Arjun discuss the UK Graduate Prioritisation Bill, which aims to prioritise UK medical graduates in the training process amidst a growing number of international applicants. They explore the challenges faced in medical training, the role of the BMA in advocating for necessary changes, and the ongoing pay disputes affecting doctors. The conversation highlights the need for a sustainable workforce plan that balances the interests of UK graduates and international medical graduates while addressing systemic issues within the healthcare system.

Chapters

00:00 Introduction to the UK Graduate Prioritisation Bill 02:45 Challenges and Solutions in Medical Training 05:34 The Importance of Sustainable Competition Ratios 08:19 The Role of the BMA in Advocating for Graduates 11:06 Addressing the Needs of International Medical Graduates 13:49 Future of Medical Training and Workforce Planning 16:26 The Pay Dispute and Its Implications for Doctors 17:44 Conclusion and Future Outlook

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The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

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PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

In this episode of the Medics Money podcast, Matthew and Ed address various financial questions from doctors, focusing on topics such as cash ISAs, trading allowances, adjusted net income, self-assessment tax returns, and claiming professional expenses. They provide insights into the implications of recent changes in tax laws and offer practical advice for navigating the complexities of financial management in the medical profession.

00:00 Introduction to Financial Queries for Doctors

01:12 Understanding Cash ISAs and Future Changes

05:40 Exploring the Trading Allowance and Miscellaneous Income

09:02 Adjusted Net Income and Its Implications

11:43 Self-Assessment Tax Returns: Who Needs Them?

16:35 Claiming Professional Expenses and Tax Rebates

21:35 Navigating HMRC Tax Relief and Subscriptions

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The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

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This week's Medics' Money Podcast features Dr. Zain Manji, who shares his experience and insights on financial education for medical professionals. Dr. Manji discusses the lack of formal financial training in medical schools and emphasises the importance of early financial planning and investment. He highlights key takeaways from the Medics' Money Financial Wellbeing course, such as budgeting, the medics money financial wellbeing algorithm, and evidence-based investing. He also offers advice to medical students and young doctors on the significance of starting financial planning and investing early.

Want the latest financial tips for doctors and exclusive invites? Join 64,000 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/

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

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

Start Investing Here

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Contact BW Healthcare Surveyors today --> https://medicsmoney.co.uk/rent/

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

This conversation delves into the complexities of funding in healthcare practices, highlighting the significant impact of underfunding on reimbursement rates and the financial health of these practices. It explores the challenges faced by healthcare providers in securing adequate funding and offers strategies for navigating these issues effectively.

Want the latest financial tips for doctors and exclusive invites? Join 64,000 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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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

Start Investing Here

Individual: https://investengine.com/affiliate-welcome/?utm_medium=Affiliate&utm_source=Medics%20Money&utm_content=Podcast&partner_id=550 Business: https://investengine.com/affiliate-business-welcome/?utm_medium=Affiliate&utm_source=Medics%20Money&utm_content=Podcast&partner_id=550

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

The next cohort of the Financial Wellbeing Course starts soon. Apply here: https://medicsmoney.co.uk/medics-money-financial-wellbeing-course/

In this episode, Tommy is joined by Dr. Jonathan Hanson, an experienced sports medicine doctor who has worked with elite sports teams, including Formula One, rugby, and football teams. Dr. Hanson shares his unique career path from medical school to becoming a go-to specialist in sports medicine, emphasising the role of mentorship and specialised training. He also discusses the importance of financial education for medical professionals, describing how early advice on investments, insurance, and the NHS pension helped him manage his finances effectively. Notably, he recounts his involvement in developing concussion guidelines in Scotland and shares some memorable experiences, including wearing Sam Allardyce's trainers during his time with the England football team. The episode wraps up with valuable advice for new doctors on managing their careers and finances.

Want the latest financial tips for doctors and exclusive invites? Join 64,000 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

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Mentioned in this episode:

Start Investing Here

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PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

In this episode, Tommy Perkins and Dr. Tony Goldstone discuss the complexities of NHS pensions, particularly focusing on the punitive annual allowance tax bills that many healthcare professionals face. Dr. Goldstone introduces a new web-based tool designed to help individuals calculate and predict their pension growth and tax liabilities. The conversation delves into the structure of NHS pensions, the challenges of understanding annual allowances, and the importance of accurate data in financial planning. The episode also highlights various tax traps that can affect take-home pay and emphasises the need for proactive management of pension-related issues.

00:00 Understanding NHS Pension Challenges 07:38 Introducing the New Pension Tool 15:16 Navigating Complex Pension Scenarios 23:44 Navigating Tax Charges and Scheme Pays 30:59 Understanding the 100K Tax Trap 37:44 Addressing Employer Errors and Back Pay 43:45 Revisiting Scheme Pays and Individual Circumstances

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Mentioned in this episode:

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PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

In this episode of the Medics' Money podcast, the team discusses their 2025 financial resolutions and sets new ones for 2026. With contributions from Dr. Tommy Perkins, Andy Pow, Dr. Ed Cantelo, Matthew, and Dr Cyra Mackintosh, they reflect on their successes and challenges over the past year. Andy shares the success of starting a new business, while Cyra discusses the challenges of maintaining savings and planning for a new baby. Dr. Tommy Perkins talks about his physical recovery, despite not meeting his resolution fully. The episode also delves into the importance of ethical investing and accurately managing pension records, offering valuable insights and advice for doctors and other professionals looking to improve their financial well-being in the coming year. The podcast ends with a reminder of upcoming live events in January to help structure and improve finances for 2026. 00:00 Introduction and Upcoming Events

00:51 Team Introductions and 2025 Resolutions Recap

02:25 Tommy's 2025 Resolution and Future Plans

07:57 Andy's 2025 Resolution and New Business

10:51 Cyra's 2025 Resolution and Personal Updates

13:48 Matthew's 2025 Resolution and Financial Plans

15:51 Ed's 2025 Resolution and Pension Focus

22:47 Final Thoughts and Upcoming Live Sessions

Mentioned in this episode:

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PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

In the penultimate episode of the Medics' Money Podcast for 2025, hosts Dr. Tommy Perkins and Dr. Ed Cantelo, along with team members Cyra, Andy, and Matthew, celebrate a successful year and engage in their annual end-of-year quiz. The quiz features a mix of questions about the team, financial achievements, and UK tax trivia, exploring topics like fiscal drag, VAT rates, and historical taxes. The team recalls their best moments of 2025, including record numbers of doctors assisted and popular YouTube videos. They also discuss significant changes in ISA limits set for April 2027. The episode wraps up with a thank you to their listeners for their continued support, along with wishes for a happy holiday season.

00:00 Welcome to the Medics' Money End of Year Quiz!

00:31 Meet the Team

02:28 Quiz Round 1: Medics Money Achievements

10:15 Quiz Round 2: Pet-Themed Fun

14:41 Quiz Round 3: Fiscal Drag and Finances

20:01 Reflecting on Fiscal Drag and Inflation

20:40 Investing in 2025: Navigating AI Bubbles and Market Volatility

23:36 Understanding Stock Market Volatility

26:33 ISA Limits and Government Policies

31:55 Tax Trivia: Unusual Historical Taxes

35:20 VAT Rates and Peculiarities

38:09 HMRC Excuses and Tax Return Deadlines

40:39 Wrapping Up: Medics' Money's Year in Review

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In this episode of the Medics Money podcast, Tommy interviews Angus Perry, a GP with a passion for integrating technology and lifestyle medicine into healthcare. Angus discusses his journey from being a GP to founding GeneralPractice.ai, a platform designed to create personalised management plans for chronic conditions and promote lifestyle changes. The conversation explores the challenges of implementing lifestyle medicine in a time-constrained environment, the importance of patient engagement, and the role of technology in modern healthcare. Angus shares insights on building a minimal viable product, the significance of passion in entrepreneurial endeavours, and offers advice for young clinicians looking to future-proof their careers in an evolving medical landscape.

Chapters

00:00 Introduction to Angus Perry and His Journey 02:32 The Importance of Lifestyle Medicine in General Practice 05:23 Challenges in Implementing Lifestyle Changes 08:05 Building a Solution: GeneralPractice.ai 10:45 The Mechanics of Creating a Health Tech Startup 13:38 How GeneralPractice.ai Works for Patients and Clinicians 16:26 The Role of Gamification in Health Management 18:59 Advice for Young Doctors and Future Trends in Medicine

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