Category: Finance

Junior Doctor Pay Calculator

We’ve created a junior doctor pay calculator to help you better understand your salary, tax, student loans and NHS pensions. We’ve based it on the Junior Doctor Contract in England updated for April 2022/23 financial year and pay circulars. Based on this it uses the following nodal points for basic salary calculations: FY1 – £29,384

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NHS Pension Scheme (2015)

This article is supplementary to the webinar on the same subject, which you might find extremely useful as we were joined by Andrew, a pensions expert from Wesleyan. We also address the very important question, “Should I leave the NHS pension scheme?” What is a pension? A pension scheme is a tax-efficient way of saving

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Mortgages for Doctors and NHS Professionals

Getting onto the property ladder is becoming increasingly difficult for first-time buyers due to the difficulty in saving for the large deposits, increasing house prices, and supply unable to meet demand. In this article, I will explain what kind of mortgages those in the NHS can access and useful tips from Tom Davies of TM

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Consumer Loans

It’s important for healthcare professionals to have an understanding of the different loans which are available – to help them take control of their personal finances. This forms part of a series covering essential topics including credit scores, credit cards, bank accounts, and savings. Like these other topics, talking about loans isn’t specific to healthcare

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Student Loans – should you repay early?

Student loans are a Government-run scheme in the UK and the most recent plan (Plan 2) has resulted in higher education in the UK being the most expensive in Europe. The following article will briefly outline the basics of student loans and what factors to consider when deciding whether overpayment is a good idea. What

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Clinical Coding

If you’ve ever wondered how hospitals generate income from the work you do – the answer is clinical coding. In this article, you can learn how the NHS is structured and how it reclaims its income. With this information, you can learn how as doctors we can maximise the income through documenting appropriately. How is

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Payslips & Income Tax

Each month, your pay and any deductions will be summarised to you in the form of a payslip. You should check your payslip every month to ensure you’re not being overtaxed or underpaid. Pay extra attention when you’re switching rotations or doing locum shifts as this is when issues commonly arise.

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Credit Cards

This article will cover the different types of credit cards, the main things to look out for, and the reasons why you might consider applying for a credit card. For more information on this & other financial topics, we highly recommend checking out our Finance Homepage. What is a credit card? When you are approved for

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Savings Accounts

In this article, I will be discussing the different types of savings accounts and key points about each. For more information on this & other financial topics, we highly recommend checking out our Finance Homepage. Why have a savings account? A savings account helps you keep a separate pot of money that you are less likely

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Current Accounts

This article summarises some key tips and tricks on how to get the most out of your current accounts. For more information on this & other financial topics, we highly recommend checking out our Finance Homepage. What is a current account? A current account is a bank account that is used for day-to-day management of

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