UK consultants working in private practice

Correct as of February 2010

Since the announcement that a 50% rate of tax will be introduced in April 2010, MPS has received numerous calls from members who have either formed, or are considering forming, a limited company, Limited Liability Partnership or partnership with their spouse for financial reasons only. They have been concerned about the potential implications for their MPS membership.

MPS is pleased to reassure members whose medical practice has not changed (for example the new company is not employing other healthcare professionals or entering into contracts with PCTs or private hospitals) that the formation of a company for financial purposes only will not affect their personal membership of MPS and they will continue to be able to seek assistance from MPS should they encounter any medicolegal difficulties.

However, if the company (or partnership) does intend to employ anyone or engage with anyone outside the company to carry on work on its behalf, then it may need corporate insurance cover. Any member of MPS concerned about the effect of these changes on their membership should contact the Membership Helpline on 0845 718 7187.