Itisha Gupta

⚠️Lots of threads/posts on tapering, threshold, adjusted etc. Now we have March payslips can I tell you how I would approach it 1️⃣ Get your March 25 payslip. Note your YEAR TO DATE TAXABLE Pay. *IGNORE* gross pay and for now IGNORE pensionable pay. Dont use gross income and deduct pension contributions - the "taxable pay" already has them deducted so dont deduct it again. 2️⃣Do *NOT* add back in salary sacrifice for things likes cars and childcare. You are required to add in "relevant salary sacrifice arrangements made after 8 July 2015" - the key word here is relevant defined as "the individual gives up the right to receive general earnings or specific employment income in return for the making of relevant pension provision," - so DONT add cars etc back in. 3️⃣So you now have your NHS taxable income for the year. Now you need to add any other taxable income - think other PAYE, private practice, property, BIK, dividends, interest etc. Basically anything else that is subject to income tax. Less employment related Income Tax Reliefs claimed via tax return i.e. GMC, BMA, MDU etc 4️⃣Do NOT take off gift aid for normal charitable donations which is another common mistake Ive seen experts make. Note you can do this for the ridiculous £100k cliff calculation, but not threshold/adjusted 5️⃣So your NHS taxable income plus all other taxable income, less any other NON NHS pension contributions i.e. a SIPP, is THRESHOLD INCOME. If this is below £200k you are not tapered and have the full £60k allowance and any carry forward (use the HMRC carry forward calculator to work out if you have carry forward - you will have needed both your RPSS to the 22/23 tax year and 23/24 PSS to work this out, latter obviously also delayed in England & Wales - you can estimate 23/24 using the tool below). 6️⃣If threshold income above £200k you need to work out ADJUSTED INCOME. You wont find out your PIAs for 24/25 until October 2025 but can estimate them using the link to the free tool and video below. If you are in 2008 its a bit more involved, and I wouldnt advise the NHS Employers modeller for this as for 2008 it ignores reckonable pay so is wildly innacurate. Adjusted income is THRESHOLD plus deemed PIA pension growth accross both schemes plus any other pension growth or SIPP contributions etc. The free tool below will help you calculate this. 7️⃣The free tool below will help you estimate your threshold and adjusted income, so see if you can expect a liability for 24/25 (due Jan 26, scheme pays Jul 26) WHY IS THIS SO IMPORTANT in 24/25 Because of the 23/24 pay award paid in 24/25 and DDRB 24/25 many people will have VERY LARGE PIAs - Im year 14 (just) and my PIA is over £150k. That means if you go over THRESHOLD income, when you add in the PIA, tapering can be BRUTAL and reduce your allowance from £60k down to £10k - that might increase your AA tax charge by £22,500 (45% x £50k reduction). So if your THRESHOLD income is CLOSE to £200k you can still DURING THE TAX YEAR ONLY i.e. the next 9 days or so make a SIPP payment to reduce it below threshold income to avoid tapering. Say your THRESHOLD income (step 5 above) is £210k you could make a £11k GROSS SIPP payment which would reduce your threshold income to £199k which could reduce your AA liability by £22.5k making the SIPP free. See the worked examples in the video below Free tool and video to work all this out is below Free Tool: bit.ly/Goldstone2325P… Self help video: youtube.com/watch?v=CNYcur…

@goldstone_tony @RCRadiologists Who is accountable ; no one , that is why nothing happens

Im sorry this whole national recruitment mess is a complete disaster. Why do we keep on seeing these monumentally damaging errors? I feel so bad for those caught up in this mess with lives on hold @RCRadiologists The whole thing needs a rethink in all specialities IMHO.

🚨little over 1 month left of this tax year. If you are a consultant or other high earner that had a signfiicant pay rise in 24/25 its more important than ever you #knowyournumbers & crucially understand this ridiculous graph 👇 Free tools & videos in tweets below. Don't ignore

Received a brown (or white in Scotland!) "RPSS" envelope & have no idea what is it, nor what to do ... start here👇 I open mine and talk you through the numbers, what they mean and what you need to do Please RT/share with colleagues who are struggling youtube.com/live/zlcFZjv_J…

If you have received your brown envelope, I hope you are coming my "live opening" Sunday 6pm see 👇 To get the most of it please print out the attached single page "triage on a page helper" (from the link) bit.ly/TGMcCloudTriage Don't worry, Ill talk you through it Pls shr/RT

Hi Dr Asad- the scheme pays indicates you had AA charges. That almost certainly means you are due compensation because they almost always go down (watch my video on this)…. But only if you claim Help is available as it’s a complex, with your costs fully recoverable - the HMRC process is 200 pages long and a minefield of traps to go wrong So if you need help, I've built tools in partnership with leading specialist medical accountants who can help - register with no obligation here bit.ly/MazarsGoldstone More info here bit.ly/MazarsGoldston…

IMPORTANT: Its crucially important higher earners at risk of #taper understand risks, especially in year where pay/pension has *started* to be *restored*👇[still way down] With upcoming budget its crucially important policy makers understand risks @wesstreeting @jamesmurray_ldn

10/ Finally slightly concerning response from Treasury who proclaimed LTA was abolished to 'ensure consultants can "work the hours"'. Maybe treasury should ask if THEY would give up their weekend to do extra lists & #PayToWork Need to find a solution to this quickly Pls RT!

@Elisabe99770240 Juniors below - the 22pc is across 2 years not one per below

Thank you very much to the 4561 consultants, senior SAS & GPs who have so far responded to our survey 👇&the 1359 who left free text comments. This closes tommorow at 9am - please respond if you can before then, and if you can leave a comment on how this would affect YOU

9/9 And that the tapered annual allowance, one of the worst designed taxes of all times still has brutal cliff edges and can operate in a perverse way to disincentivize extra work / overtime Pls RT the first tweet in this 🧵to share @JosephineCumbo's excellent article

3/3 Furthermore although #LateRetirementFactors would solve this as we have been suggesting for years, we believe the scheme @nhs_pensions has a DUTY to inform members of the 1995 scheme that they are giving up pension if they dont retire at their 1995 pension age (60 or 55)

2/3 Whilst DHSCs view that that do not need to bring in #LateRetirementFactors because of #PartialRetirement - I'm afraid that's nonsense unless partial retirement is available to ALL who want it Its GROSSLY unfair to not allow any member to access benefits they paid for at NPA

1/3 REMINDER: Work a day past your retirement age in the 1995 section and you are donating or 'burning' your pension back to gvmnt. I with BMA & many others including NHS England, Unison, NHS Providers & schemes own advisory board have been calling to end this for years

3/ A new decision tree has been added - first crucial step if you plan to retire in the next 10 years, i.e. "reckonable pay" may benefit from recent very high inflation - use the detailed modeller provided by NHS BSA before making your decision (or to revisit your decision)

1/ BREAKING: Following our complaint to DHSC / BSA that the quality and type of information going to choice 2 members was poor & would not allow them to make an #informedchoice on reversing a choice 2 decision, BSA have today released updated information 👇

The NHS is completely BROKEN😢 WASNT broken by COVID/Strikes/inflation (*delete excuse) but by deliberate CHOICES to break it RT if you want this/next government to make CHOICES to properly fund the NHS, #reward staff & provide better healthcare than 👇 for the UK population

I wrote about beta-blockers after MI today on @Sensible__Med Gosh, I hadn't quite realized how old and out of date and modest that data was. sensible-med.com/p/a-surprising…

Who is going to train them all... How much can you fill a leaky bucket?