Dr Tony Goldstone Profile picture
Aug 21, 2022 7 tweets 5 min read Read on X
1/ As one of the leading experts on pension taxation in NHS I've personally reached out to @trussliz @RishiSunak with my thoughts on this existential threat to the NHS & solutions

If you want #TalkToTony I'd be happy to explain this complex issue.

Read 👇& RT if you agree
2/ I start by explaining in detail how about tax relief in the NHS is *not* the same as the private sector, nor is it the same as other public sector schemes
3/ Much of the general problem has been explained many times, including in the recent excellent @CommonsHealth report that correctly concluded that "It is a NATIONAL SCANDAL that senior doctors are being forced to reduce their working contribution"
4/ But even in the short time since the evidence for that report was collected, things are now moving exponentially with rapidly rising inflation causing issues with #CPIdisconnect #NegativePIAs & the very urgent need to #FixTheFinanceAct as raised recently by @DrDanPoulter
5/ Whilst issues with the Annual Allowance are central to the NHS pension crisis, rapidly rising inflation is now also destroying the Lifetime Allowance at unpredented rates. Ultimately we need a long term solution like offered to the judiciary #taxunregistered
6/ There are solutions. But government need to listen to people that understand this highly complex issue. Time is running out to fix this. Your urgent intervention is required before patient safety is further compromised by these absurdly unfair and ill conceived taxes.

Pls RT
7/ Read the letter in full below (with some minor corrections / typos)

docs.google.com/document/d/e/2…

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More from @goldstone_tony

Oct 30
1/ Well after intense media speculation re: budget (speculation incl. reduction of tax free lump sum to £100k; flat rate relief at 30 or 20%; lifetime allowance re-introduction & pension "flexibility" [i.e. balance between pay & pension] .. speculation can now END....
Pls RT 🧵 Image
2/ Its now time for @RachelReevesMP to deliver her first budget ... I'll be live tweeting anything significant with a focus on #pensions and #pensiontax (if there is indeed anything!)

So keep following! Appologies for any typos/errors read to end for any corrections & docs Image
3/ So following #PMQs there is a statement that the contents of some of the budget has been made public before the budget and expresses dissapointment that this has happened Image
Read 27 tweets
Oct 17
1/ Longtime followers may remember this update from 4.5 years ago. Id met the then head of @nhs_pensions and the senior leadership team. They made lots of promises to improve things around Annual Allowance that BADLY needed improvement....

Pls read, share and RT
2/ Chief among those promises was to have an end to waiting till October for a PSS. Indeed no more brown envelopes. 85% of people would get their "digital brown envelope" by June (starting in 2020) 👇

3/ And furthermore for those that dont get automatic PSS (then around 85%), 15% would be able to see in this portal, from June 2020 why they DONT have a PSS i.e. you need manual calculations, or they cant issue one as they are awaiting info from employer

Read 14 tweets
Sep 7
1/ ICYMI Ive done a couple of videos 📹 on the tapered annual allowance - and why it could be hugely problematic for higher earners in the NHS *THIS* tax year (24/25)

Its crucial you have an understanding of chart 👇 if you are in affected groups.

Please share 👇/ RT & 👀📹 Image
2/ This was the first of two videos introducing the problem via a real case study

I discuss why its crucial that @wesstreeting @jamesmurray_ldn get an urgent grip of the dreadful tax policies they inherited affecting lower and higher earning consultants

3/ In second video I discuss a case in more detail & look at some strategies to try & mitigate this nightmare tax cliff.

None are desirable & tax needs changing to remove the huge discincentives to not to extra work, or worse still, reduce current

Read 4 tweets
Aug 20
THOUGHT FOR THE DAY: many senior doctors desperate to help waiting lists & would be willing to give up evenings/weekends to help out.

But current tax rules will mean some could end up #PayingToWork 👇

RT if you want @wesstreeting @jamesmurray_ldn to fix this ludicrous tax trap Image
2/ Per the chart with taxable income 242,400 after income tax, NI and AA post tax pay is around 95,056.40

However the same member earning 199,999 also gets 95,083.88 post income tax, NI, and AA

Why would this member do over £40k extra work, and PAY TO WORK?? Image
3/ Looking at it the other way the member earning 200,001 takes home 72,584.96

But the member earning 157,500 takes home essentially the same 72,559.40

*HOW IS THIS FAIR*

[CLUE: it isnt] Image
Read 6 tweets
Jun 29
1/ NEW & IMPORTANT: Quarterly NHS pay data updated 27/6/24 👇 In BREAKING NEWS NEW charts now show ALL SECTORS have reached #FullPayRestoration (though NOT, of course, the NHS)

We MUST fix pay/retention to fix #WaitingLists

Please read whole [long bumper] 🧵 & share widely/RT

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2/ You'll notice when ministers are in the media, they often talk about how hard "your viewers/listeners" have been hit by inflation. But what we need to do is separate fact from fiction (aka LIES), it was 👇excellent @jburnmurdoch @FT chart that really showed this well last year Image
@jburnmurdoch @FT 3/ But its not just government ministers gaslighting NHS workers that they have no right for their pay to keep up (like everyone else's), it was also so-called "independent" DDRB👇

Apparently doctors & dentists should not be protected when "its not taking place in other groups" Image
Read 33 tweets
Mar 29
1/ NEW & IMPORTANT: LOTS of new data this week incl new pay data 28/3/24 👇 NEW charts incl NHS satisfaction (SPOILER: Its grim #MindTheGap)

MUST fix pay/retention to fix #WaitingLists- next GE WILL be won/lost on NHS.

Please read whole [long bumper] 🐇🧵 & share widely/RT

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2/ You'll notice when ministers are in the media, they often talk about how hard "your viewers/listeners" have been hit by inflation. But what we need to do is separate fact from fiction (aka LIES), it was 👇excellent @jburnmurdoch @FT chart that really showed this well last year Image
@jburnmurdoch @FT 3/ But its not just government ministers gaslighting NHS workers that they have no right for their pay to keep up (like everyone else's), it was also so-called "independent" DDRB👇

Apparently doctors & dentists should not be protected when "its not taking place in other groups" Image
Read 35 tweets

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