7Oct, 2013

Workplace Pensions

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The implementation of NEST (the National Employment Savings Trust) has begun and all employers should be aware of their responsibilities and obligations in this respect. Also known as Auto-enrolment, employers have an obligation to set up a company pension scheme for its employees, as well as contributing on their behalf. For practices or business of less than 30 employees, implementation is not necessary until April 2018. Employees will be required to contribute 1% of their pre-tax salary, rising to 5% by October 2018, with employers also contributing 1%, rising to […]
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7Oct, 2013

Specialist Medical Solicitors

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Medics and dentists should only too readily appreciate the importance and value of the specialist practitioners within their sectors. The use of specialists within financial services is no less important but, for some reason, it often seems to be overlooked. We regularly receive telephone calls and emails from members asking questions that require specialist knowledge and experience to answer. At MediClub, we will refer members to the relevant specialist when and where appropriate. One such specialist is the solicitors, Morrisons, based in Redhill. With other offices in the South East, Morrisons […]
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7Oct, 2013

Child Benefit Tax On High Earners

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If you or your partner has a personal income of more than £50,000 and one of you receives Child Benefit, then you will be liable to this new charge. If your income is in excess of £60,000, then the charge is equal to 100% of the amount of the Child Benefit received. A sliding scale is applied on income between £50,000 and £60,000. If you are self-employed, then the charge will be applied through self-assessment. If you are employed, then your tax code will be altered accordingly, so that you […]
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7Oct, 2013

New Kid On The Block

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Some of you may already be aware that there is a new kid on the practice finance and mortgage block.  Metro Bank has arrived and, with its swish new offices on Kingsway in Holborn, London, is shaking up the banking sector offering not only longer retail banking hours but also competitive mortgages, specialist commercial finance, as well as a brash, if not rash, offer of free business banking for life (subject to terms and conditions). The specialist medical and dental finance sector is headed up by Laura Graham, who was […]
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6Oct, 2013

Government Backed Mortgages

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On the subject of finance, you will no doubt have read about the new Government backed mortgages.  This is a welcome opportunity for young professionals to leap onto the housing ladder, as the scheme will enable borrowers to raise a mortgage with only a 5% deposit, income permitting of course. As we have a dedicated specialist mortgage department, we will be able to advise and guide you when the need arises. The maximum property purchase price is £600,000 and the Government guarantees repayment of the mortgage.  It is ideal for, […]
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