Medics Money podcast

Medics Money
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The Medics‘ Money Podcast helps doctors, dentists and other professionals make better financial decisions. Hosted By Dr Tommy Perkins and Dr Ed Cantelo, who is not only a doctor but also a Chartered Accountant and Tax adviser.

  1. 19h ago

    Ep 329: Digital Tax Revolution: Don't get left behind!

    Andy Pow hosts this week's podcast with Forvis Mazars healthcare accountants Dawn Laird and Lee Simmonett to explain Making Tax Digital (MTD) for income tax, described as the biggest change since the 1990s and arriving in 2026, with around three-quarters of affected taxpayers not registered. MTD currently applies mainly to self-employed clinicians such as GP locums (and some consultants with self-employed private practice) and to property income; it does not directly affect partnerships or limited companies. The trigger is cumulative income over £50,000 (before expenses), including combined self-employment and rental income, with thresholds falling to £30,000 then £20,000. Recipients must register separately (not auto-enrolled). Quarterly submissions start with the first due 7 August, plus a final declaration; tax payment dates remain January and July. Spreadsheets require bridging software; digital tools like Xero are recommended. Penalties begin next year: one point per missed quarterly submission, £200 at four points, lasting 24 months. 00:00 MTD Shockwave 2026 01:23 Who Must Comply 02:37 Income Thresholds Explained 05:15 Registering With HMRC 06:35 Quarterly Deadlines 07:10 Software Vs Spreadsheets 08:53 Final Declaration Basics 11:40 Penalties And Compliance 16:10 Rental Income Complications 20:12 New Businesses And Voluntary 21:45 Top Tips To Prepare 23:57 Accountant Support Options 26:51 Final Wrap Up Want the latest financial tips for doctors and exclusive invites? Join 71,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/ Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com Want to improve your finances fast? Then come on our course https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/ Want to find out more about our other courses? www.medicsmoney.co.uk/courses Follow us on Instagram Follow us on Twitter Disclaimer: The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

    29 min

  2. Jun 9

    Ep 328: The early retirement strategy doctors don't know about....

    This week's guest: https://nichols.co.uk/ This week we cover how NHS doctors, especially consultants with private work or side hustles, can use a “money box company” (a limited company/personal service company) to bridge the gap to retiring before the NHS pension age and to plan taxes flexibly. Steve Nichols explains that keeping private income in a company can help avoid the £100,000 “tax trap,” preserve tax-free childcare, and legitimately split income by paying a spouse salary/dividends (including NI credits). The conversation covers paying university (but not school) fees via benefits-in-kind for an over-18 child working for the company or via dividends using appropriate share classes. They also explain director’s loan accounts as legal borrowing from the company with interest and Section 455 tax cashflow implications. For higher earners, routing private income through a company can mitigate pension tapering exposure and allow accumulating profits to extract later via members’ voluntary liquidation at lower capital gains tax rates than dividends, subject to anti-avoidance rules and genuine cessation of private practice. 00:00 Retire Before NHS Age 01:41 Money Box Company Basics 03:17 Flexibility And Tax Levers 07:20 When To Set One Up 08:03 Beat The 100k Trap 12:36 School Vs University Fees 19:53 Directors Loan Accounts 27:19 Avoid Pension Tapering 31:05 Liquidation And CGT Exit 35:13 Wrap Up And Warnings Want the latest financial tips for doctors and exclusive invites? Join 71,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/ Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com Want to improve your finances fast? Then come on our course https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/ Want to find out more about our other courses? www.medicsmoney.co.uk/courses Follow us on Instagram Follow us on Twitter Disclaimer: The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

    40 min

  3. Jun 2

    Ep 327: Missing funding, quick wins for doctors and more at AISMA 2026

    Tommy and Ed were invited to speak at the Association of Independent Specialist Medical Accountants (AISMA) Conference, then Tommy roamed around finding experts to interview in true Medics' Money style! AISMA chair Lizzie Lloyd highlights sessions on funding, tax and collaboration, advising doctors to focus on upcoming 2026/27 contract changes, budgeting and planning despite limited detail on the new GP scheme and “neighbourhoods.” Medics' Money legend Andy Pow says the conference focus is neighbourhoods but details remain unclear, notes major funding differences across the UK nations, flags Making Tax Digital, and warns uncertainty around the Carr-Hill formula and rising workload from advice-and-guidance and digital access without matching funding. Pete Farrier explains benchmarking, regional and practice-model variance, and improving finances via claims, effective PCN/federation working, and staffing/partnering. Sarah Edwards outlines AISMA’s Next Gen/AISMA Academy training videos for medical accounts. Will Ellis of BW Healthcare Surveyors stresses that ~89% of practices are underpaid on notional rent, offers no-win-no-fee checks, and recommends reviewing every three years. 00:00 Conference Intro 01:27 Meet The AISMA Chair 02:31 GP Contract Uncertainty 04:04 Andy Pow On Funding 06:32 Contracts Workload Pressures 07:56 Benchmarking GP Performance 09:43 Boosting Practice Earnings 11:45 Private Work And Tax Planning 13:49 AISMA Next Gen Academy 16:51 Premises And Notional Rent 19:28 Final Takeaways Want the latest financial tips for doctors and exclusive invites? Join 71,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/ Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com Want to improve your finances fast? Then come on our course https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/ Want to find out more about our other courses? www.medicsmoney.co.uk/courses Follow us on Instagram Follow us on Twitter Disclaimer: The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

    22 min

  4. May 26

    Ep 326: "You thought earning more would make the problems go away…” w/ Cleo Nedd

    This week, Cyra (doctor and chartered accountant) interviews Cleo Nedd, a personal wealth strategist who helps high-achieving women turn income into lasting wealth and reduce reliance on exchanging time for money. Reflecting after International Women’s Day, they discuss how virtue signaling fails to close ongoing gaps in women’s financial access, confidence, and industry inclusion, shaped by the fact that women have only had independent banking and investing access for just over 50 years. Sarah shares subtle bias she experienced with mortgage brokers, estate agents, and solicitors, while Cleo highlights micro-aggressions, women self-disqualifying, and the male-dominated financial advisory sector. Cleo reframes higher income as requiring “added subtraction,” clearer personal money principles over rule-based advice, and better communication with partners. She also describes teaching children budgeting language and delayed gratification. 00:00 Welcome and Introductions 00:53 FU Money for Women 02:02 Beyond Managing to Owning 04:51 Why IWD Feels Hollow 07:51 Microaggressions in Money 11:52 Industry Barriers and Self Doubt 14:32 Radical Responsibility Mindset 18:38 Holding Wealth as Income Grows 24:12 Money Clarity with Partners 29:07 Principles Over Rules 32:18 Ethics and Investing Choices 34:18 Teaching Kids Money Habits 38:03 Wrap Up and Next Steps Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com Want to improve your finances fast? Then come on our course https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/ Want to find out more about our other courses? www.medicsmoney.co.uk/courses Follow us on Instagram Follow us on Twitter **Disclaimer:** The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

    41 min

  5. May 19

    Ep 325: 🇨🇾 Leaving the NHS for Cyprus...

    Follow @drnatashaholmes on insta and TikTok. Dr Natasha Holmes on Leaving the NHS and Moving to Cyprus: Push–Pull Factors, Risk, and What’s Next? On the Medics' Money podcast, Cyra chats with Dr Natasha Holmes, an FY10 pediatric locum/bank registrar, life coach, and co-creator of The Fully Well Doc Pod, who announces she is leaving the NHS and the UK after what she believes was her last NHS shift. Natasha explains her decision as a long “push–pull” transformation: reduced fulfillment from worsening NHS conditions and greater fulfillment from coaching, alongside pull factors including moving to Cyprus (where she grew up) for community, supporting aging parents, lower living costs, better savings prospects, and to explore starting a business and possibly medicine there. She discusses identity and mental health struggles during FY2, the need to prove she could do the job, and realizing colleagues often feel excited to work while she generally doesn’t. Natasha outlines risk mitigation via two years of savings, family housing/support, and a remote-working partner, and plans to maintain GMC registration through upcoming revalidation while exploring Cyprus requirements. They address public misconceptions about “paying back taxpayers,” medical training costs, limited training posts, and shared frustrations about NHS conditions; she leaves in 35 days on a one-way ticket and has received mostly supportive responses. Want the latest financial tips for doctors and exclusive invites? Join 71,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/ Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com Want to improve your finances fast? Then come on our course https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/ Want to find out more about our other courses? www.medicsmoney.co.uk/courses Follow us on Instagram Follow us on Twitter Disclaimer: The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

    40 min

  6. May 12

    Ep 324: Making Tax Digital - Do you know where you stand?

    For MTD advice and to ensure compliance, contact Azets here: https://hubs.la/Q04dwtwK0 Making Tax Digital for Income Tax: What UK Doctors Need to Know (MTD for Income Tax 2026) The Medics' Money podcast discusses Making Tax Digital for Income Tax (MTD for Income Tax), described as the biggest UK tax filing change for doctors since the late 1990s, with guests Adrian Cousens and Anita Holmes from specialist medical accountants Azets. They explain that from 6 April 2026, individuals with over £50,000 of combined qualifying turnover (sole trade/self-employment and rental income, based on 2024/25) must keep digital records using HMRC-approved software and submit four quarterly updates plus a final annual return, with the first quarterly deadline on 7 August 2026. Partnerships (including GP partnerships) and limited company income are not initially in scope, but GP partners may still be affected by outside sole trade or rental income; thresholds later drop to £30,000 and then £20,000. Key advice is to prepare early, consider moving from spreadsheets to software, manage new deadlines, and seek specialist advisor support. 00:00 MTD Big Change Intro 01:00 Meet The Experts 02:50 What Is MTD for Income Tax 03:51 Why Act Now 05:29 Beta Lessons And Wins 07:50 Who Is In Scope 11:18 Key Dates And Deadlines 11:50 Digital Records And Software 13:27 Quarterly Updates Explained 14:16 Not Ready Soft Landing 16:25 Pain Points And What To Report 21:07 Accountant Roles And Packages 22:52 Thresholds Future Scope Rules 27:04 Final Advice And Wrap Up

    32 min

  7. May 5

    Ep 323: This GP DOUBLED his list size

    https://www.growyourlistsize.co.uk/ On the Medics’ Money Podcast, GP partner Dr Nabeel Arshad of Brooks Surgery in Manchester discusses how his practice doubled its patient list from 10,000 to 20,000 over five years, contributing to over £1.9m in recurring revenue and enabling reinvestment in more doctors, trainees, specialist staff, and technology while increasing partner take-home and maintaining access and high patient satisfaction. He explains why profit matters for partnership sustainability and why income streams tied to clinician time (insurance reports, teaching, joint injections) don’t scale and can be withdrawn, whereas list size is more stable and supports further income via QOF, ARRS/PCN budgets. He outlines his GrowYourListSize.co.uk service, including eligibility screening, controlled growth, geographic exclusivity, a six-month money-back guarantee, and a free practice growth report. 00:00 Meet Dr Nabeel Arshad 01:51 Why Working Harder Fails 05:00 Scaling With Systems 07:35 The Numbers Behind Growth 10:42 Google Reviews Matter 14:24 Recurring Revenue Security 17:26 PCN And QOF Upside 18:44 Succession And Recruitment 21:38 Service Guarantee And Exclusivity 24:23 Controlled Growth And Setup 27:00 Free Growth Report CTA 29:01 Quickfire Future Of GP 31:06 Wrap Up And Where To Find

    34 min

  8. Apr 28

    Ep 322: "A bank study found their best investors all had one thing in common..."

    Join the course with a discount: https://medics-money-partnership.circle.so/checkout/financial-wellbeing-course-7?coupon_code=FWBEARLY The podcast features Dr. Nadia Ekong discussing what she learned on the Financial Wellbeing course and how she applies it to her family, covering budgeting, saving, investing, and teaching children about money. She contrasts growing up with unspoken expectations that academic success would guarantee financial security with the modern reality of taxes, spending, and the need to manage income intentionally. Key takeaways include planning finances prospectively using the Medics Money financial dashboard, adopting mindset shifts such as understanding the true value of “£1” after tax and the real cost of purchases, and using evidence-based, passive investing. She describes practical steps for kids: piggy banks, GoHenry and Starling Kite accounts, goal-based “pots,” and reading Grandpa’s Fortune Fable to introduce long-term investing. They also discuss pocket money approaches and recommend E is for Ethics for teaching morals through stories and guided questions. 00:00 Episode Overview 01:21 Meet Dr Nadia Ekong 01:56 Early Money Lessons 03:01 Doctor Pay Reality Check 04:49 Course Takeaways 07:54 Teaching Kids Money 09:25 Investing With Stories 11:47 Pocket Money Debate 15:19 Ethics For Kids Book 18:04 Top Tips And Wrap Want the latest financial tips for doctors and exclusive invites? Join 71,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/ Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com Want to improve your finances fast? Then come on our course https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/ Want to find out more about our other courses? www.medicsmoney.co.uk/courses Follow us on Instagram Follow us on Twitter Disclaimer: The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

    23 min
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About

The Medics‘ Money Podcast helps doctors, dentists and other professionals make better financial decisions. Hosted By Dr Tommy Perkins and Dr Ed Cantelo, who is not only a doctor but also a Chartered Accountant and Tax adviser.

Information

  • Creator
    Medics Money
  • Years Active
    2020 - 2026
  • Episodes
    365
  • Rating
    Clean
  • Copyright
    © Copyright 2026 All rights reserved.
  • Show Website
    Medics Money podcast

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