Dental Specialist Financial Adviser, Paul Griffiths, for Wesleyan Financial Services, outlines the new tax rates, new allowances and other changes that have come into effect and explains what these will mean to dentists.
Chancellor of the Exchequer, Jeremy Hunt’s 2024 Spring Budget, was accompanied by a full fiscal statement from the Office for Budget Responsibility (OBR). In any election year, the Chancellor comes under pressure to make announcements that will boost their party in the opinion polls.
Specialist Financial Planner, Graham Hutton, from Wesleyan Financial Services highlights how a practices value plays an important role in retirement planning.
Specialist Dental Financial Adviser, for Wesleyan Financial Services, Stephen Barry, shares his insights on estate planning and how planning sooner rather than later can be beneficial.
Magdelena Harding, Specialist Financial Adviser at Wesleyan Financial Services discusses what practice owners need to think about when refurbishing their practice.
Dental Regional Manager, Neil Richardson from Wesleyan Financial Services shares his thoughts on what all young dentists should be aware of with regard to financial planning.
Simon Cosgrove, Specialist Financial Adviser for Wesleyan Financial Services, highlights the importance of checking where your pension is and how it’s performing…
Neil Richardson, Dental Regional Manager at Wesleyan Financial Services, shares how the Spring Budget’s biggest announcement can be addressed from a financial planning perspective…
Graham Hutton, Specialist Financial Planner at Wesleyan Financial Services, shares a key business management area that poses a significant financial risk to your practice…
Stephen Barry, Specialist Financial Adviser at Wesleyan Financial Services, shares the latest retirement research from the Pensions and Lifetime Savings Association (PLSA)…
Michael Copeland, Dental Regional Manager for Wesleyan Financial Services, reveals sought-after financial nuggets when it comes to life after work for dentists…
Paul Barnfather, Specialist Dental Financial Adviser for Wesleyan Financial Services, shares how there is a cost when delaying financial planning for retirement.
Birmingham-based specialist financial services mutual, Wesleyan has announced it will be supporting 15 dental students from disadvantaged communities with scholarship funding worth over £65,000. Each student will receive scholarship fees of £1,500 per year for the first three years, as well as regular mentoring and practical support both before and at the University of Birmingham.
The need for skilled dentists is more urgent than ever due to the pandemic. Dental surgeries were closed for months in lockdowns and many people are still avoiding routine check-ups for fear of COVID-19. This means people often need more complex treatments for advanced tooth decay and gum disease when they do see a dentist.
Nathan Wallis, Chief of Staff at Wesleyan said: “We’ve always been committed to supporting dentists through every step of their careers, from their first appointment right through to retirement, and we are proud to support 15 students, at the start of their professions. Not only do we care about our communities and the challenges of social mobility, but we also understand that access to funding is critical to getting started at university.”
Professor David Adams, Pro-Vice-Chancellor and Head of College of Medical and Dental Sciences, from University of Birmingham said: “Undergraduate dentistry students study for five years, instead of the usual three for many other subjects; by choosing to go into a field where they can help others, they are making a huge financial commitment. The scholarships from the Wesleyan Foundation will help to ease the pressure on students who would have otherwise struggled to get started at university.”
The scholarships form part of the University of Birmingham’s Pathways to Birmingham (P2B) programme, which has helped over 5,500 young people from underrepresented backgrounds study at the University over the last 20 years. The P2B programmes are targeted at young people who are the first in their family to go to university, are from low-income households, live in a postcode where few people go to university, have a disability, have been in care and/or are estranged from both parents or guardians.
Wesleyan, the specialist financial services mutual, launched the Wesleyan Foundation in 2017 as part of their commitment to supporting great causes that are important to their customer base of doctors, teachers and dentists, and the communities in which they live and work.
The Lifetime Allowance is the total amount of pension savings you can build up tax efficiently over your lifetime. On 6 April 2014 the Lifetime Allowance will be reduced from £1.5 million to £1.25 million. Many dentists could well exceed this due to the generous nature of the NHS Pension Scheme, especially those later in their career. A pension pot of £1.25 million translates roughly into an annual NHS pension income of between £54,300 and £65,500 depending on which section of the NHS pension scheme you are in.
Fixed protection 2014
Individual protection 2014