By Ian Quinn
The pay gap between partners and salaried GPs is shrinking, according to a report out today showing the impact of soaring practices expenses combined with the Government's pay freeze.
According to the NHS Information Centre, the average income before tax for GMS GP partners slumped by 1.2% between 2007/8 to 2008/9 (the latest information collected).
However, salaried GPs working in GMS practices saw their average income before tax rise by 3.4% in the same period.
The average income after tax for GMS partners came in at £99,200, compared to the average figure for salaried GPs of £55,700.
Partners net income fell for third consecutive year, with the figures showing increases in gross earnings being easily outstripped by soaring expenses.
While average gross earnings for contractor GPs in the UK rose to £258,600 during 2008/09 (an increase of 2.6% on 2007/08), the increase was more than offset by rising average expenses which were £153,300 - 5.1% higher than the previous year.
Pay gap between partners and salaried GPs narrows Reviewing your practice business (1 CPD hour) Expand your practice finance knowledgeAttend the Finance Skills for Challenging Times business seminar on 10 March (London) and 17 March (Manchester) to take home practical tips on making tough financial decisions and hear from experts in the field.
