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AISMA Finance Clinic – Episode Three: Preparing your year-end information

July 15, 2021, by in Accounting, AISMA 0 Comments

AISMA-July-02

What is the most efficient way to pull together all the information that your accountant needs to prepare the year-end accounts? Do you take the ‘tidy as you go’ approach and record the information regularly through the year? With a busy surgery to run, the best intentions of keeping on top of the financial records…

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An update on final pay controls – it’s good news

June 17, 2021, by in Accounting, Pay 2 Comments

Business woman using calculator for do math finance on wooden desk in office, tax, accounting, statistics home accounring  concept

In August 2020 specialist medical accountant James Gransby* wrote an article for Practice Index about the NHS Pension Scheme final pay controls and how to avoid them. A recent government announcement about the rules offers some great news for practice managers. Here James explains that although things have moved on since August, it’s still no…

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Why a GP employer might not be able to afford a pay rise

PAY RISE, spelt out with wooden letter tiles.

Over the years, I’ve heard many arguments as to why some GP practices claim not to be able to afford an annual cost-of-living pay rise for their hard-working and supportive staff. You’ve probably heard the ‘excuses’ yourself – at least, let’s call them that for the time being. You may agree with them, but on…

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COVID-19 ‘Finance Clinic’ hosted by AISMA

February 25, 2021, by in Accounting, COVID-19, Finance 0 Comments

We’ve asked members of the Association of Independent Specialist Medical Accountants (AISMA) for tips and advice on the finance issues relating to funding for the COVID-19 vaccination programme. In this 20-minute vlog they tackle some of the burning questions you’ve been asking on this forum thread: Finance clinic on everything COVID – Ask your questions…

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New tax guidance for PCNs

Close up of female accountant or banker making calculations. Savings, finances and economy concept. Letter box format

As the deadline for the submission of tax returns for 2019/2020 looms on 31st January 2021, many practices are unaware of their income and expenditure as part of a PCN. To assist in ensuring member practices are declaring correctly,  The Association of Independent Specialist Medical Accountants (AISMA) and the healthcare group of the Institute of…

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The Practice Index Podcast: Episode two – Are practices less profitable than they were 10 years ago?

September 24, 2020, by in Accounting, AISMA, Finance, Podcasts 0 Comments

Woman working with documents, Tablet pc and notebook. Profit Concept.

There was a headline in the GP press recently that stated that, in real terms, GP partners’ income in 2018/19 was 10% below the figure recorded a decade earlier in 2008/9 (according to “official” data for England). But as is always the case with statistics, averages never tell the whole story. I know of practices,…

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A brief guide to final pay controls and how to avoid them

August 19, 2020, by in Accounting, AISMA, Pay 1 Comment

Close up hand man doing finance and calculate on desk about cost at home office.

Final pay controls were introduced in 2014 to stop the abuse of the NHS Pension Scheme. Practices can face huge charges if they fall foul of the rules. Specialist medical accountant James Gransby explains. Many practice managers are unaware of final pay controls and the impact the resulting charges could have on their practice’s profitability.…

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