Doctoring the accounts

Article Abstract:

The new General Medical Services (nGMS) contract has introduced a major change to general practitioners (GP) pensions, with NHS Pension Scheme (NHSPS) contributions calculated on the basis of NHS profits, and has moved away from a global estimate of expenditure to an individual assessment of NHS profits. Superannuation provisions apply to non-GP partners in nGMS in the same way as they have done with non-GP providers in PMS.

Personnel administration, Capital funds & cash flow, Compensation and benefits, Accounting and auditing, Physicians (General practice), General practitioners

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Plans for pensions

Article Abstract:

An insight of International Accounting Standards Board (IASB) that has published an exposure draft (ED) of amendments to IAS 19, Employee Benefits, is presented. The ED proposes additional options for the recognition of actuarial gains and losses, and a change in the treatment of group plans in the individual financial statements of entities within a consolidated group and some additional disclosures.

Product standards, safety, & recalls, Reporting & Disclosure, Standards, International Accounting Standards Board, Financial statements

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The next instalment

Article Abstract:

The newly introduced pension rules were amended by the government even before pension A Day began on 6 April 2006. The amendment was brought about because the government feels that the proposed rules could be abused to gain tax advantages by persons investing in pensions and this would not benefit the target population.

Tax Law, Public Finance Activities, Taxes, Analysis, Taxation

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