Medics’ Pension Annual Allowance advice

The NHS Pension Scheme is one of the most generous around, but it comes with its own set of issues and challenges.

One of these is the medics’ pension annual allowance, which is a highly complicated and specialised area of tax.

Luckily, we’re experts at helping you protect your hard-earned retirement savings while avoiding costly tax surprises.

Tailored advice that makes a difference

The combination of annual allowance limits, tapering rules for high earners, and the Pension Input Amount (PIA) calculations in defined benefit schemes leaves many doctors, consultants, and other healthcare professionals facing unexpected tax bills.

When you add in unpredictable factors like pay rises, inflation, and scheme changes, it’s no wonder many medics feel lost.

That’s where we come in.

Our team has years of experience working with healthcare professionals, from psychiatrists to consultants, helping them:

Understand how the annual allowance impacts their pension contributions
Maximise the use of carry forward allowances
Decide whether options like Scheme Pays are right for them and prepare the Scheme Pays applications
Strategically plan to minimise tax charges while optimising pension growth

Unlike generic tax advisers, we know the ins and outs of NHS pensions tax, including the specific quirks that trip up many medics.

Get in touch

Our advice isn’t one-size-fits-all – it’s tailored, actionable, and focused on what works best for you.

Whether you’re worried about breaching the annual allowance, confused about tapering, or just want a clear strategy to manage your pension, we’re here to guide you every step of the way.

Your focus should be on patients, not paperwork.

Get in touch with us today, and let’s put a plan in place to take the stress out of managing your NHS pension.

Contact our team

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Paul Hutchinson | Co-founder of Thinking Focus

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Medics’ Pension Annual Allowance advice

Tailored advice that makes a difference

Our team has years of experience working with healthcare professionals, from psychiatrists to consultants, helping them:

Useful Links:

The naked truth - what our clients say about us

I’d highly recommend them to other businesses, and I can easily describe the firm in three words: friendly, efficient, and agile.

The process is really seamless. If something’s missing, they let me know, and it’s all sorted quickly. They even leave comments in Xero if there’s something specific that they need clarification on. It’s proactive, and it’s all handled smoothly.

Their attention to detail and dedication to their work has been impressive. Their approach isn’t just about addressing immediate needs but ensuring long-term reliability and success.

One of the biggest advantages has been the backend processing. From coding incoming bills to managing receipts, everything is so slick. We’ve even automated simple tasks like receipt management – just take a photo and it’s handled.

We were building our business from scratch – creating a website, registering the company, and sorting out logistics like VAT numbers. We didn’t have much in place, but we were confident in Naked's ability to guide us through.

I chose to partner with Naked Accounting because of their in-depth knowledge of Xero, which was critical for my business's next phase. My former accountant, who was nearing retirement, lacked the expertise with Xero that I required.

I brought them on as my accountants in 2022, and since then, they’ve helped me with everything, starting with my sole trade tax, guiding me through incorporation, and setting up systems to manage my accounts efficiently.

Get in touch