myNLPFM Home About Us Our People Services Charity Partners Latest News Contact Us Providing peace of mind and saving you money. NLP Financial Management can help all Doctors, Dentists and allied healthcare professionals when it comes to their finances and their (NHS and/or private) pension position. You are not superhuman and sometimes need help navigating complex financial systems. We have developed the knowledge and expertise to model the different circumstances you may find yourself in and have already helped significant numbers of NHS members make the best decisions regarding their future. We can provide peace of mind through giving advice on: Pensions: We guide you through maximising contributions to the NHS pension (and/or a private pension) in order to enhance your wealth and reduce your tax liability. Understanding and updating the NHS Pension Total Reward Statements. Help you request and understand your NHS Annual Allowance Statement and how to calculate your Annual Allowance position from it. Balancing Private and NHS Work to ensure optimal tax efficiency. Protecting yourself and your family: Advising on and arranging Critical Illness, Life Cover and Income Protection. Analysing any existing arrangements in place via your NHS pension. Working with solicitors to ensure Wills and Powers of Attorney are in place to protect your position. Inheritance Tax Planning to efficiently pass wealth between generations. Tax: Advising on current and future tax years to optimise your finances using your pension(s) and ISAs. Liaising with and assisting your accountant to ensure that correct data is obtained, used and submitted to HMRC. Investing: Advice on whether to allocate excess savings into pensions or other investments. Investing your money in a risk appropriate fashion to ensure your objectives are met. Tax-efficient investments as alternatives to pensions and ISAs. Providing regular updates on your investments and suggesting changes as necessary. Simply ignoring these issues can severely damage your wealth; timely, correct advice helps to prevent HMRC enquiries and helps ensure you are being tax efficient. Why the Need for Specific NHS Pension Advice? Successive governments are adding to healthcare professionals’ workload by introducing change upon change to pension legislation, culminating in complicated rules relating to all pension contracts in 2016. The interaction of these rules requires careful analysis. Current pension rules limit the amount of tax relievable pension inputs that can be made into a pension scheme in each tax year. This is known as the Annual Allowance. Exceed this Allowance and you are likely to face a tax liability, known as the Annual Allowance Excess Charge. Contributions to pension schemes, such as the NHS Pension, are called Pension Inputs. Pension inputs can take the form of monetary contributions into money purchase schemes or the ‘deemed’ contribution in the case of a defined benefit scheme. Your deemed annual pension contribution is made up of all pension inputs you, your employer and/or a third party make, or are deemed to have made, to your pension. Accordingly, we can assist with the calculation of your pension inputs and how this pension contribution compares to your Annual Allowance. Even if you have exceeded your Annual Allowance, you may be able to use Carry Forward relief to mitigate an additional income tax liability and to potentially maximise your contributions. Get in touch today for a free, no-obligation consultation with Tom Burrill, our in-house specialist – tom.burrill@nlpfm.co.uk Need more information? If you’d like to speak to an adviser about protection or corporate planning, call us on 020 7472 5555 or fill in the form below. Alternatively, you can also download our brochure below. Download our brochure Your Name (required) Your Phone Number (required) Your Email ” Tom Burrill was most helpful with his advice about the NHS pension scheme and a pleasure to work with Alberto Corporate Planning Opportunities Make sure your business is protected and reaches its full, tax-efficient potential. Speak to one of our business planning experts today Download the PDF Need more information? Interested in how the Chancellor’s budge affects you? Download our quick, easy guide to find out more. Download our brochure Corporate Financial Planning When your company produces sufficient profits, we can help you plan the surplus through careful pension planning, allowing you to reduce your tax and NI liability. Debt Financing Financial planning makes it possible to change debt structures. Speak to us today if you are looking to manage our debt or reduce your payments. Shareholder Protection With well-devised life assurance policies, we can help you mitigate and reduce the risks posed by potential shareholder/director deaths in your company. Staff Benefits Your employees are some of your most valuable assets, we can help you create a financial plan and benefit strategy to maximise retention and productivity. Financial Planning Make more informed financial decisions to achieve your goals Pension Planning Plan ahead with a pension adviser to make the most out of life after work Investment Management Create a long term plan to seize opportunities and grow your wealth Tax Efficient Investments Get the most of out your investments using ISA’s & other tax wrappers Inheritance Tax Planning Leave a more meaningful legacy to your loved ones, not the tax man Protection & Corporate Planning Safeguard your assets and staff loyalty through tailored planning Looking to create a solid investment plan? Call us today on 020 7472 5555. NLP Financial Management Limited is authorised and regulated by the Financial Conduct Authority – FCA Number 221468. Registered office – Charles House, 108 – 110 Finchley Road, London, NW3 5JJ Company Registered in England and Wales – Company Registration No. 04339336 Privacy Policy | Cookie Policy | Compliance Regulatory | Terms and Conditions Where you have a complaint or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please see the following link for further details: www.financial-ombudsman.org.uk. mail@nlpfm.co.uk 020 7472 5555 020 7681 2780 myNLPFM © 2021 NLP Financial Management. | Website by CreativeAdviser We use cookies to track usage and preferences. Find out more. Okay, thanks