Publisher's Synopsis
Most general practices are businesses of quite significant size and yet many GPs are not clear on what the detail of their practice accounts really means.
This book will help if you have ever found yourself confused by:
a balance sheet
capital accounts
profit-sharing ratios
It will also help you to understand how practices are paid:
the differences between payments under the GMS, APMS and MCP contracts
the effects of transitioning from PMS to GMS contracts
the mechanisms for claims and payments
property and other reimbursements, including the Premises Costs Directions
the new GP Retention Scheme
Furthermore, as an individual GP it will tell you about:
how you pay your tax and how it might appear in the practice accounts
tax deductible expenses
the differences between being employed and self-employed for tax purposes
joining and leaving a practice
buying a share in the surgery premises
forming a limited company for tax purposes
the NHS Pension Scheme and its various 'sections'
superannuation
Updated with 2018/19 guidelines on tax, pensions and practice payments, this is a book for all those confused by accounting terminology, from GP registrars to GP principals.
