Impartial Financial Planners | IFA | Fee Based | Dentists | Doctors
Providing fee based impartial financial planning services, serving dentists & medics throughout the UK
Q. I’m aware that I’m not going to accrue the full 40 years in the NHS Pension Superannuation Scheme as I did not qualify until I was aged 25. I’ve heard about buying ‘added years’. Can you tell me how to go about this? A. Until April 2008, buying added years was available. Many people [...]
If you are a member of the NHS pension scheme, you will soon be asked to make a very important decision. That is, should you remain in the current version of the scheme (applies if you were a member pre-April 2008) or should you transfer to the new version (post-April 2008). To help, the NHS [...]
A post by Ray Prince, Certified Financial Planner Ray Prince has worked as a Financial Planner since 1994 and specialises advising medics and dentists throughout the UK. His passion is working with and helping clients who want an unbiased view as to how they can achieve their lifestyle and financial goals and objectives. To find [...]
Regular readers of our newsletter will probably recognise the words Cash Flow Forecast (Financial Map or Sat Nav), as we often refer to this when talking about how we help doctors and dentists work out: What they really want to achieve in life? What is this going to cost and when? How does this look [...]
This Q&A has been answered by Amanda Maskery of Sintons solicitors, who specialises in working with dentists. Amanda can be contacted on 0191 226 7878 or click here Q. My accountant has suggested that I consider changing my business structure from self-employed to a limited company. Can you please tell me what I need to [...]
Dental practice sales are still being agreed at an impressive goodwill value of 100% of fee income, allowing some retiring dentists to achieve a golden farewell, despite the economic downturn. This analysis is the result of the latest goodwill survey from NASDA, the National Association of Specialist Dental Accountants (NASDA), and provides evidence that the [...]
There have been many changes in overall pension rules by the government, and we have discussed in Financial Tips how this has affected the NHS Pension Scheme in previous articles such as the Lifetime Allowance. Other NHS rule changes might not be so obvious, but for the unfortunate few who fall ill, have a serious [...]
Q. I am a Consultant age 57, and have decided to go part time next month. Looking at all the implications am I right to say that although my pay will be greatly reduced, I will still pay NHS Pension contributions based on my Whole Time Equivalent income? A. You have obviously done your homework. Yes [...]
This week’s Q&A is more in depth than usual and follows a ‘conversation’ style. Q. I guess something I have been considering is my retirement from general dental practice at age 58-60 while I still enjoy it and before my health suffers. I am currently 52 (53 in May) and in good health. I will have an [...]
In the past when it came to how the NHS paid your pension, it was very simple. You had a pension based on the number of years’ service in the Scheme, your income, and whether you had purchased added years. You also received a tax free lump sum of three times that pension (although GMPs [...]
