Navigating Scheme Pays Elections for Consultants

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    Scheme Pays Election for Consultants Insight

    Whether to make the NHS Scheme Pays Election can be a crucial decision for consultants. We provide clear guidance to navigate this choice and consider your personal circumstances.

    Annual Allowance Pension Charge Advice

    Our team assists consultants with the annual allowance pension charge, ensuring you understand the Scheme and its implications on your NHS Pension Scheme benefits. We also take care of the administrative work involved.

    Benefits of this Pension Scheme

    A ‘Scheme Pays Election’ may offer a strategic advantage for consultants under certain conditions. Our expertise ensures that you make this election with a comprehensive understanding of its effects on your future pension.

    • Detailed calculations for the annual allowance charge.
    • Analysis of potential reductions in pension benefits.
    • Deadline tracking to ensure timely election submissions.
    • Assessment of election eligibility based on specific criteria.
    • Personalised advice tailored to your financial situation.

    Tailored Scheme Pays Election Support

    Consultants face unique challenges with NHS Pension Scheme decisions. We provide personalised assistance, from calculating potential charges to filing Scheme Pays Elections, ensuring every step is taken with precision and with your interests in mind.

    We have received an excellent service since we moved to Nichols & Co. The transition has been the most hassle-free and transparent. They are always very helpful with any queries you might have and have a very good working knowledge of General Practice and are keenly aware of the challenges Practices face within the changing environment of the NHS.
    We have been very impressed by the way Nichols & Co continue to deliver the range of services they provide from Accounts to Tax and NHS Pension advice.

    At the year-end meetings, the accounts are presented in an understandable format without any unnecessary jargons. We have found Practice consultation and advice on Practice as well as personal tax matters from Nichols & Co specifically helpful.
    We would not hesitate to recommend them to other GP Practices.

    Dr William Jasper, GP Partner

    I am a GP who works both in salaried and sessional roles. I have been with Nichols & Co for nearly three years. They have helped with my tax returns and can help with the range of different forms required in GP work. Danny and Shadmir have been accurate and efficient in their advice and guidance throughout. They have also been helpful and responsive when I have needed advice on the purchase of a car and also when looking to prove my income in order to get a mortgage.

    The system for providing income details and expenses is very easy to use and the summary they provide of how and when to pay your tax could not be clearer. I would recommend Nichols & Co to any colleague looking for an accountant with a good knowledge of GP work. 

    Dr C DeSouza, Salaried GP

    I’ve been with Nichols and Co for nearly 10 years with Debra being my accountant. I first contacted them when I received letters for tax arrears due to the wrong tax codes being applied during my hospital jobs.

    Debra sorted this matter out and has always provided helpful and honest advice regarding tax matters. She has also helped my wife with her tax returns. I would definitely recommend their services for accounting matters with a special interest in helping doctors with their tax affairs. They are approachable, helpful and efficient.

    Dr Ravi Bansal, Locum GP
    Get in touch
    Contact us for specialist medical accountancy services for Consultants

    If you’re looking to plan your finances for the future or trying to find an answer to a problem then get in touch today.

    Telephone: 020 8850 3300

    We’re open from 9am to 5pm Monday to Friday. We are closed on bank holidays.

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