MPS statement on indemnity

MPS have shared a statement with us this morning confirming their arrangements for the coming year following our contract negotiations in England and the changes being worked on in Wales.  This can be shared more widely.   Simon Kayll, MPS Chief Executive said: “Medical Protection has set new subscription fees for general practice members in England and Wales. Most members can expect to receive a significant reduction and in some cases they may be eligible for a partial refund on their current year’s subscription. Medical Protection members will receive a personalised letter setting out their new tailored subscription information in detail in the next couple of days. “The new state-backed scheme won’t protect GPs in all circumstances. This means Medical Protection membership will remain vital to protect against many challenges including regulatory issues, a complaint from a patient or a clinical negligence claim arising from private or fee paying work. “A GP’s subscription will depend on a number of factors including the amount of private or fee paying work they undertake and the number of sessions they work. As an illustration, a GP working eight sessions can expect their subscription to be less than £800. This subscription includes advice and support with medicolegal issues from their NHS and private work as well as our  24 hour medicolegal advice line and risk management support. “If a member carries out fee paying or private work they would need to add protection for any claims that may arise from this activity. The cost of this additional claims protection is dependent on their earnings from private or fee paying work. GPs can earn...
BMA Pensions & Taxation Update for Consultants, GPs and SAS doctors – Truro and Plymouth

BMA Pensions & Taxation Update for Consultants, GPs and SAS doctors – Truro and Plymouth

  BMA Pensions and Taxation Update for Consultants, GPs and SAS doctors   Thursday 4th April 2019, Knowledge Spa, Royal Cornwall Hospital Trust, Treliske TR1 3HD  Tuesday 16th April 2019, Future Inn, Derriford, Plymouth PL6 5ZD   [Refreshments from 18:30; Seminar 19:00 – 20:00]   The full gravity of the Government’s recent change to the annual pension savings allowance may recently have hit home for many doctors.  Those who have paid more into their pension(s) than the allowance permits may well have received unwelcome news from the NHS Pension Agency, confirming they have a tax liability. It’s important to know where you stand. Not everybody affected would have been contacted. The Agency only knows about your NHS earnings and not your private earnings, for example from private practice, investments or rental property. Now that the annual allowance is tapered based on your total taxable earnings, your situation may well have changed. The BMA’s financial adviser partner Chase de Vere Medical can help to make things clearer.   Over 60-minutes, Chase de Vere Medical will explain: what’s changed and how to work out if you are affected the options available to those who breach the allowance, and different ways to manage your pension contributions in the future how you could minimise and potentially avoid the annual allowance tax charge altogether the lifetime allowance, what it means for you and what can be done to mitigate its impact.   You’ll also be able to ask the presenter any questions that you have on these important topics. Places are limited, and we expect demand to be high, so register your attendance now...