Primary care providers who are frustrated by the ongoing failures in Capita’s support service have had their complaints acknowledged in a damning report by the National Audit Office.
It says the problems arising from the £330m contract have put services and potentially patients at serious risk. It blames Capita for underestimating the task and the impact of losing local knowledge by closing sites, and NHS England for failing to fully assess the risk of outsourcing and put proper performance measures in place.
High quality information is the key to sound financial management. Clear and concise reports, which show the headline figures without too many distracting details, are ideal for controlling your finances on a day to day basis.
Like the dials on a flight deck, they make it easy to check you are on course and spot the early signs of trouble. Displaying figures as charts or graphs helps to highlight underlying trends and can give partners a greater insight into the finances.
Doctors and other professionals who are living overseas and who sell a home in the UK should beware of being caught out by changes to the capital gains tax rules.
The changes, which came into force on 6 April 2015, mean that non-UK residents must pay tax on any increase in the property’s value from that date until the date of the sale, and to submit a capital gains tax return within 30 days of completion.
GP practices affected by cyber attacks may be experiencing problems with accounting and payroll systems. Those using older-style, non-cloud software with no back-ups may find they are unable to access data. We are here to help – contact us on 0161 832 7571.
Of all the questions that medical accountants are asked, the issue of drawings is by far the most common. That’s perhaps not surprising, as it can be difficult to get the balance just right.
If your drawings are set too high, you risk running out of cash and being unable to pay the bills, or lurching from one crisis to the next. Cashflow problems can bring down even the most profitable practice which is why accountants often use the saying, ‘cash is king’.