In this episode, Jenny Stone, a Chartered Accountant and Partner at RBP, is joined by Oliver Newing, a Financial Planning Consultant at Quilter Financial Advisers. They will be discussing the tax implications of being in the NHS pension scheme, the annual allowance tax charge and why the rise in inflation will mean GPs could have large tax charges for 2022-23. Also, how a scheme pay election effects your pension and considerations you need to think about before opting out.RBP launched an innovative service earlier this year, that can provide tailored information on this topic, the RBP NHS Pension Report and analysis service. This report will provide you with information about the scheme benefits of your NHS pension, some of which may assist you in:Recognising and understanding how your NHS pension could growThe impact this could have on your tax position, both now and in the futureIdentifying any tax consequences that could arise in relation to the Annual and Lifetime Allowances To see an example of the RBP NHS Pension Report, please click here. Working together with Oliver Newing he provides a video tutorial to this report and also a free consultation to discuss any potential future requirements.RBP and Oliver Newing can be contacted, by email at [email protected], or call 020 8370 7777. We are always here to help. Please note that this podcast was recorded before the mini-budget held on Friday 23rd September 2022.RBP are one of the leading medical specialist firms of chartered accountants in the UK. They have over 30 years’ experience in the medical field and they will be sharing their broad and experienced knowledge through their fortnightly Accountancy on Prescription podcasts.Listeners who will be interested in subscribing to these informative and relevant shows are doctors in general practice, locum doctors, hospital consultants, practice managers and PCNs.RBP can be contacted via their website, www.rbp.co.uk, by email [email protected], or call 020 8370 7777. We are always here to help. The content of RBP’s podcasts has been obtained from, or is based on, sources that we believe to be accurate and reliable. Although reasonable care has been taken in gathering the necessary information, we cannot guarantee the accuracy or completeness of any information we broadcast in our shows. We accept no liability for any errors or omissions in information provided by the RBP team or their guest speakers. You should always carry out your own independent verification of facts and data prior to making any investment, legal or tax decisions.

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