Ndubuisi 'Andy' EgwimMoney Coach for Medics|Ex-NHS GP|21+ Yrs Investor| Founder, MoneyWiseDoctor.com|Helping Medics Avoid Big Money Mistakes

A senior NHS GP shared his story in one of my workshops.

28 Aug 2026 · 2 min

Watch on YouTube

1:31

In a Moneywise Doctor workshop, Ndubuisi 'Andy' Egwim recounts the story of a senior NHS GP who first lost over £100,000 after investing a pension lump‑sum with little financial knowledge. Five years later, the same doctor discovered he had also missed a crucial tax opportunity: he failed to notify HMRC of the capital loss within the four‑year statutory window, forfeiting the ability to offset future gains. Andy uses this double‑mistake to illustrate how doctors often overlook tax rules that can be financially damaging. He emphasizes that while investment losses are painful, the additional loss of unclaimed tax relief can be avoided with proper awareness. To address this knowledge gap, Andy introduced his “ABCDE Tax X‑Ray” system, a structured method for doctors to identify common tax gaps. He promotes an upcoming “Tax X‑Ray” workshop limited to 30 doctors, inviting interested participants to comment “x‑ray” for details.

Chapters

Now, a doctor recently shared in my workshop how he lost more than £100,000 on an investment. But that wasn't the only mistake. Years later, after he lost the money, he discovered he had made a second one with his taxes. He was a senior NHS GP, great guy. He shared his story in our Moneywise Doctor workshop. Back in 2020, he had recently taken his pension lump sum. With relatively little investing experience or financial education, he invested a significant part of it. Sadly, he lost more than £100,000. Painful! But around 5 years later, after attending one of our Moneywise Dr. Tax Secretary workshops, he discovered something else. He hadn't notified HMRC about the capital loss within the 4 tax years that was the required limit. That meant he lost the opportunity to establish that loss and potentially use it against future taxable gains. Now, I'm not one to cry over spilled milk, but let's not spill more. You might lose money, but don't make it worse by also losing potential tax relief. And I've seen the opposite happen as well. Doctors discovering thousands of pounds in previously unclaimed tax relief before the deadline passed. Others identifying tax traps before they became expensive. Different situations, same lesson. With taxes, what you don't know can become very expensive. And the problem is, you know, people say what you don't know can't kill you. That's not true. You don't know what you don't know. That's exactly why I created the ABCDE Tax X-Ray system to systematically look for the gaps, that doctors can easily miss. So I'm running the tachy x-ray workshop next week. It's for 30 doctors. If you comment x-ray, I'll send you the details.