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, PMS, 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 Induction and Refresher 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
This is a book for all those confused by accounting terminology, from GP registrars to GP principals.
Reviews of the previous edition
"Great book for GP's who want to get a better understanding of the financial aspects of general practice. It explains clearly the payment structure of general practices and also gives good information about practice accounts. Highly recommended ..."
"Great book, up to date, accurate, really clarifies the minefield of GP accounting. Explains clearly and succinctly how the practice accounts are made up and what happens when joining and retiring from practice."
"This book is bang up to date and incredibly easy to follow. Contains useful and up to the minute information, and serves as a great source for reference."
