We are ideally placed to advise practices upon whether to opt out of General Medical Services (GMS).
For doctors in general practice, we will ensure that your practice accounts are in line with PMS or GMS contracts as well as HM Revenue & Customs’ requirements.
All income and costs will be analysed in accordance with the contract rules, and allocation of superannuation between partners will be assessed.
We are familiar with the NHS superannuation scheme and we can assist with the preparation of the annual certificates of pensionable profits for GP partners as well as the compilation of all other NHS certificates.
With the 1997 Primary Care Act having introduced PMS pilots, practices must decide whether to opt out of General Medical Services (GMS) in favour of moving away from the constraints of the Red Book to an individual contract negotiated with the Health Authority.
Negotiated contracts enable practices to be paid for the services they provide and these may be more extensive than the Red Book permits. Under PMS, services currently provided by GP partners could be spread amongst assistants, nurse practitioners and other health professionals.
There will be pros and cons to doing this ranging from having more control over how your services are provided to the initial time and teething troubles that such a change will inevitably bring. To make the decision that’s right for you, professional advice from specialist accountants to the medical profession could be the key to future success.
In addition, specialist VAT advice is available for dispensing practices and we have a range of services that will help take the pain out of your administration.
For further information about our services in this area, please contact Jeff Gitter.
Tel: +44 (0)20 7490 7766