Impartial Financial Planners | IFA | Fee Based | Dentists | Doctors
Providing fee based impartial financial planning services, serving dentists & medics throughout the UK
Q. With all the recent announcements regarding proposed changes to the NHS Pension Scheme, I have heard that the actuarial reduction percentages have changed for members that are looking to take benefits prior to normal retirement date. Can you please clarify the position? A. The good news is that the percentage reductions have reduced slightly. As [...]
Q. I am a 58 year old Consultant who had a family quite late. As a result we have 3 children either doing A levels or at University. We plan to pay all their course and living expenses and were wondering about taking out a life policy on my life for, say, the next 7 years ‘just [...]
Have you ever decided to clear out the garage or box room that is full of junk that has gathered over the years? It’s a great feeling when all the hard work pays off and you suddenly find you could actually fit the car back into the garage, or have a new room in the [...]
Q. It seems that NHS / Private dentists can easily fall foul of the new annual pension allowance. It is interesting to know that if the £50,000 annual limit is breached we can use up unused allowance from the previous 3 years. In the light of this, can you please advise if we can use [...]
Recently we’ve touched on the subject of happiness, and what is needed to be happy, click here. We’ve also mentioned the fact that, generally, people can start to really think about living the life they love and want if they are financially secure, and feel in control of their lives. After all, it’s difficult to [...]
Q. I want to review my Inheritance Tax situation. I am a 50 year old Consultant and expect to work to age 60, if not a bit longer. Our two children have flown the nest and are independent, and my wife and I have inherited considerable amounts from recently deceased parents. So with this and a large house with [...]
Q. I am an NHS Associate Dentist and am considering changing my business structure from self-employed to a limited company. I have heard that there may be implications with regards ongoing membership of the NHS Pension Scheme. Can you please shed more light on this? A. You are right to be concerned. The NHS Pensions Agency has confirmed [...]
As we’re now approaching the end of the tax year we thought you might be interested in reading a copy of the latest guide that we’ve compiled. The ‘Year End Mini Tax Guide’ aims to provide you with tips and strategies to help you make the most of your money, and hopefully save tax at [...]
Q. I was speaking with a fellow Principal dentist recently and she mentioned that she has ‘practice expenses cover’. Can you please tell me more and whether I should consider it? A. A long absence from work after an illness or an accident could hit your practice hard, particularly if you are one of the main income generators. Your income [...]
All dentists have a number of important decisions to make when planning their financial future, such as: Should I invest more into pensions? What is the best mortgage available? I’ve sold the practice – what do I do with the realised capital? Unfortunately, some dentists forget to put in place [...]
