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 here!
James Gransby, AISMA vice-chairman and partner at RSM UK Tax and Accounting Limited, talks about the pros and cons of paying locums and bank vaccinators as contractors.
Debbie Wood, AISMA chairman and head of healthcare services at MHA Moore & Smalley, explains the VAT implications for paying staff through individual practice payrolls and talks about what happens if federations are involved with the programme.
Andrew Pow, AISMA board member and healthcare partner at Mazars, talks about how COVID-19 vaccination funding will impact on practice profits.
Finally, Debbie Wood returns with her thoughts on how practice managers should be assessing the impact of COVID-19 income when cashflow planning.