AISMA In the News

AISMA members regularly write in the specialist GP and practice management publications, offering expert advice to doctors on the key issues of the day.

Consultation outcome: Proposed changes to NHS pension contributions

The Department of Health and Social Care has published its response to the consultation setting out proposed changes to member contributions to the NHS Pension Scheme. Commenting on the response, Deborah Wood, chairman of the Association of Independent Specialist Medical Accountants and healthcare services partner at MHA Moore and Smalley, said: “Postponing the changes toContinue reading

GPs set to miss out on compensation for pension tax charges

The Association of Independent Specialist Medical Accountants (AISMA) is calling for an extension of the 11 February deadline for GPs in England to claim for compensation against the pension annual allowance tax charge for 2019/20 because many GPs have not received the information they need to make a claim. A special compensation arrangement was setContinue reading

AISMA statement: PCSE Online

Responding to the problems highlighted by the BMA concerning PCSE Online, Deborah Wood, chairman of the Association of Independent Specialist Medical Accountants (AISMA), said: “AISMA fully supports the idea of building a system that allows practices more control of their financial records. “However, disappointingly, the launch of PCSE Online has exacerbated the problems GPs andContinue reading

AISMA’s influence yields positive pension news for GPs and practice managers

The suggestions made by the Association of Independent Specialist Medical Accountants (AISMA) in response to a recent government consultation on the NHS Pension Scheme have yielded good news for GP practices affected by final pay control rules. The official response, published last week on the gov.uk website, includes AISMA suggestions which will be included inContinue reading

New episode of the AISMA Finance Clinic now available

Want to know more about how to maintain healthy practice profits without compromising on patient care? AISMA accountants James Gransby, Abi Newbury and Andrew Burwood give their expert advice and top tips in the latest episode of the AISMA Finance Clinic. The AISMA Finance Clinic, an initiative developed in collaboration with Practice Index, brings together members ofContinue reading

AISMA response to 2021 Budget

James Gransby, Vice-Chairman, Association of Independent Specialist Medical Accountants, said: “In a widely predicted move, the lifetime allowance limit for pensions has been frozen at £1,073,100 for the tax years up to and including 2025/26. This would affect anyone expecting to draw an NHS pension of over £46,656 and with this limit now being frozen,Continue reading

Response to proposals to rectify pension discrimination

AISMA welcomes the proposals made by the government to rectify the discrimination that arose from transitioning NHS pension scheme members to the 2015 Scheme. The decision to opt for the Deferred Choice Underpin (DCU) takes the pressure away from any immediate need to make decisions and members should therefore be no worse off than theyContinue reading

Response to Treasury rejection of NHS Pension Scheme flexibility proposals

While AISMA welcomed changes that were made to the annual allowance tapering rules in the March 2020 Budget, many higher earning GPs will still exceed the allowance and face tax charges. The Treasury has confirmed that no further flexibilities are being proposed to reduce the scope of those being impacted.* A significant issue remains forContinue reading

Tips for practices on checking monthly statements

It’s important for practices to review their GMS/PMS statements on Open Exeter each month and reconcile them to the money received into their bank accounts. Writing in Practice Index, AISMA accountant David Lockitt offers some tips to practice managers on checking the practice’s monthly statements for payments and deductions. Visit the Practice Index website toContinue reading

Freeing up practices to support COVID vaccination

Welcoming the letter from NHSE/I on 7 January 2021, setting out plans to free up general practice to support COVID vaccination, Andrew Pow, AISMA Board member said: “In November we wrote to the British Medical Association to explain the financial impact of COVID-19 on general practice. Highlighting the concerns AISMA members had about practices financesContinue reading