ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
TI Accountancy Limtied
TI Accountancy was established in 2002 by its owner Tracy Irwin, who grew the company organically through her hard work and determination to the Emplo...See More
NIXON WILLIAMS LIMITED
Nixon Williams has been providing specialist accountancy services to contractors, freelancers, consultants and interim professionals throughout the UK...See More
LLOYDS ACCOUNTANTS LTD
We offer accounts, taxation and business advisory and support services to a wide range of businesses and individuals, nationwide. We continue to build...See More
Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More
LFR Accounting
Accountancy and taxation services
Holden Associates
Holden Associates are a family run business founded in 2002, we are located at V12, Merlin Park, a modern purpose-built office in Burscough, Lancashir...See More
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...See More
CloudBook Accountants Ltd
Since we were established in 2013, we have done everything online - from getting a quote to signing off your accounts. It's easier and quicker, so it ...See More
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...See More
Sabre Accountants
Sabre Accountants have built up a fantastic reputation as a trustworthy, affordable & reliable accountancy service. We provide accountancy services a...See More
Clarity Accountants
We work closely with our clients and act for a broad range of business and personal clients. Apart from the more general accountancy services we can a...See More
GORILLA ACCOUNTING LIMITED
orilla Accounting was born after a group of specialist accountants with decades of experience amongst them, decided that accounting shouldn’t be a lab...See More
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...See More
Tax Returns - London
At Cheap Tax Returns, we love to give a personalized touch to the service we provide. As an accountancy firm, we understand small business owners and ...See More
Frequently asked questions
What specific services do accountants for doctors typically provide?
Accountants for doctors usually offer a range of services including Self Assessment tax return preparation, NHS pension scheme advice, and tax planning for private practice income. They can also help with setting up and managing a limited company, VAT registration, and bookkeeping. Many provide proactive advice on allowable expenses and tax reliefs specific to medical professionals, ensuring you maximise your take-home pay whilst remaining fully compliant with HMRC.
How can an accountant help with my NHS pension and tax implications?
An accountant with experience in medical finances can help you understand the annual allowance and lifetime allowance for your NHS pension. They can calculate any potential tax charges and advise on strategies to mitigate them, such as making additional pension contributions or adjusting your income. They will work with you to ensure your pension planning is tax-efficient and aligned with your overall financial goals, helping you avoid unexpected tax bills.
What qualifications should I look for in an accountant for my medical practice?
Look for an accountant who is a member of a recognised professional body such as ACCA, ICAEW, or AAT. These qualifications ensure the accountant has undergone rigorous training and adheres to strict ethical and professional standards. Additionally, it is beneficial to choose someone who has specific experience working with doctors and understands the unique aspects of medical income, including locum work, private practice, and NHS employment.
How often should I meet with my accountant to review my finances?
It is advisable to have a formal meeting with your accountant at least twice a year, once for tax planning and once for preparing your tax return. However, many doctors benefit from more frequent contact, especially if their income fluctuates or they are considering significant financial decisions. A good accountant will be available for ad-hoc queries and will proactively reach out when there are changes in tax legislation that could affect you.
Can an accountant help me with HMRC investigations or tax disputes?
Yes, an experienced accountant can provide invaluable support if HMRC opens an investigation into your tax affairs. They can handle all communication with HMRC on your behalf, prepare the necessary documentation, and represent you during the process. Their knowledge of tax law and HMRC procedures can help resolve disputes efficiently and minimise any potential penalties or interest charges.
What is the difference between a chartered accountant and a certified accountant?
Chartered accountants are typically members of ICAEW or ICAS, whilst certified accountants are usually members of ACCA. Both qualifications are highly respected and require extensive study and practical experience. The main difference lies in the focus of their training, but for most medical professionals, either type of accountant will be well-equipped to handle their financial needs. The most important factor is finding someone with experience in the medical sector.
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