GP Finance Tools

GP Finance Tools is a website built by a working GP, Mike, to provide free online calculators and guides specifically for UK NHS GPs and locums. The site covers NHS pension planning, locum tax, take-home pay calculations, and comparisons between salaried and locum work or NHS and private pensions like SIPPs. It draws on NHSBSA, HMRC, and other primary sources to build its tools.

The site offers a free starter plan for new locums that covers their first two years. This plan includes access to tools for calculating tax bills, deadlines, and setting aside money from every fee, along with features to log sessions and raise invoices.

The GP Locum app is a specific product that logs sessions, raises invoices, fills NHS Pension Form A and Form B, and prepares Making Tax Digital updates. It is available for free on iPhone, Android, and the web, and can be used alongside the website to keep data synchronized.

The NHS Pension Calculator is a core tool that allows users to see their projected retirement income at different ages. It calculates scenarios based on NHS 2015 Scheme + AP, NHS Legacy, State Pension, and private pots, showing early retirement reductions and future income increases from State Pension Age 68.

The GP Locum Rates Survey is a feature where locums anonymously report session fees by region and kind of work. The results are shown as ranges for groups of at least 5 answers from the last 12 months, helping users understand what NHS sessions actually pay.

The Salaried vs Locum Calculator compares the real financial value of salaried and locum work, helping users decide whether a locum rate really beats a salaried post. It is one of the popular tools that GPs and locums open most frequently on the site.

The Annual Allowance Calculator helps users determine if an extra session triggers an annual allowance charge. It is built from worked models tested against official figures and covers the current UK tax year as stated on each tool.

The McCloud Remedy Calculator is a specific tool mentioned on the site for calculating remedies related to the NHS pension scheme. It is part of the suite of calculators designed to help GPs make informed decisions about their pension arrangements.

The Locum Invoice Template and Generator is a free resource that allows users to fill in details and download a PDF. It is part of the 16 free tools available without any sign-up required.

The NHS ERRBO Calculator is a specific tool mentioned alongside the NHS Pension Calculator. It helps users understand the costs associated with early retirement reductions and buyouts under the NHS pension scheme.

The site states that every figure is traced to a primary source, with NHSBSA, HMRC, ONS, NHS Employers, and the BMA cited as key references. When a secondary source disagrees with the official one, the official one wins and the discrepancy is noted in the guide.

The business explicitly states it is not financial advice and the founder is not a regulated financial adviser. The tools are designed to get users to a regulated adviser or specialist medical accountant, making that conversation shorter and cheaper by providing accurate numbers upfront.

The official website of GP Finance Tools is gpfinancetools.co.uk.

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