Is 'netting out' in practice accounts still an issue now that we are all
on Global Sums (or Equivalents)?
i.e. are the practice expenses as stated in accounts submitted to inland
revenue still used for setting of expenses element of remuneration?
Interesting scenario:
* In the past we have done internal cover to cover each others leave and
not thought of this as 'netting out', but probably it was. In future we
should probably price this, and pay ourselves accordingly as a practice
expense.
* However this will reduce the practice profits, and thereby reduce our
pension contributions which are now based on profits.
Comments?
[I realise that we could apply a private pension scheme to such income
outside the practice accounts, but proably would never get around to it
and anyway may not be such good value?]
--
Simon Child
www.GPUK.net
www.woodbanksurgery.nhs.uk
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