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

Two Doctors. Two Costly Tax Mistakes. The Same Underlying Problem.

31 Aug 2026 · 2 min

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1:38

In this video, Ndubuisi 'Andy' Egwim shares two real‑world tax errors made by doctors to illustrate a common underlying issue: a lack of systematic awareness of tax exposures. The first case involves a senior GP who incurred a £100,000 loss on an investment but never claimed the capital loss, missing the HMRC deadline because he didn’t know such a claim existed. The second case features an NHS doctor who built a six‑figure investment portfolio largely in a General Investment Account (GIA) rather than tax‑protected vehicles; when the assets appreciated, she faced a large capital‑gains‑tax bill. Andy explains that while not every penny can be placed in ISAs or pensions due to annual limits, a disciplined, year‑over‑year review of ISA and pension allowances—both personal and family—could have mitigated much of the tax exposure. He emphasizes the principle “you don’t know what you don’t know,” urging doctors to adopt a systematic method for checking tax leakages. The video ends with a call to action to join his “Dr. Sparks X‑Ray Workshop,” inviting viewers to comment “x‑ray” for details.

Chapters

And the most painful one I remember was a senior GP, lovely guy, who lost over £100,000 in an investment but never registered the loss until it was too late. He had no idea that capital loss claim was a thing. So he really had legitimate capital losses but didn't notify HMRC within the required time. These are different doctors, different mistakes, but same underlying problem. Nobody had given them a systematic way to check their tax leakages. And that's the difficult part. You don't know what you don't know. If you don't know what you don't know, you don't even know what questions to ask to avoid making these costly mistakes. Let me give you another example. NHS doctor, she had built a 6-figure investment portfolio. She had done the hard bit. She had done the hard work, saved a lot of money, invested for decades, and she was thinking long term. But much of that money had been invested outside tax-protected accounts. She was using a general investment account, that's GIA, Or dealing account or trading account. So when gains eventually became taxable, she faced a significant capital gains tax in tens of thousands. Now, that doesn't mean every penny could automatically have gone into an ISA or pension. That's not what I'm saying. But as you would have learned from my previous videos, there are annual limits to all those things. But had available ISA and pension allowances been considered systematically over the years, including hers and her family's, part of that huge tax exposure may have been avoided. There are countless examples. Feel free to share yours in the comment section as well if you've made a tax mistake. I'm running the Dr. Sparks X-Ray Workshop. If you comment x-ray, I'll send you the details.