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
Accounting 4 Ltd
Registered practice offering accountancy services from Bookkeeping, Payroll, Vat, Self Assessment, Small Limited Company accounts etc Qualified to AAT...See More
MGM & CO. Chartered Certified Accountants
If you are looking for professional accountants offering a full range of accountancy and tax services to clients from across the UK, you have come to ...See More
Mind Your Assets Accounts
Mind Your Assets Accounts is based in Sheffield, South Yorkshire, with offices also in Manchester and London. We have over 20 years accountancy expe...See More
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...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
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Norbury Bookkeeping Services
We offer a complete bookkeeping and computerized payroll service throughout Cheshire and South Manchester and are able to offer support for all financ...See More
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...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
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More
Sambhav Management Limited
Since 2012, we’ve offered clients the tools, resources and guidance necessary for all their accounting needs. Clients receive the personalized attenti...See More
Athena Bookkeeping Services
Athena Accounting and Bookkeeping Services. ?Let us take good care of your finances giving you more time to focus on the day to day running of your bu...See More
SAFEBOOKS4U BOOKKEEPING SERVICES
For all Your Bookkeeping Needs Safebooks4u specializes in a variety of bookkeeping services with outstanding support. We understand how busy you are,...See More
PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...See More
HHR ACCOUNTANCY LTD
Accounting & Bookkeeping Solutions
ACCOUNTS 2U LIMITED
Our director, Howard Turner MAAT ATT, qualified as an accounting and taxation technician in 1995 after training with chartered accountants in Cheshire...See More
BROOKSON LIMITED
Why Brookson? There are plenty of reasons. We’re specialists at dealing with self-employed finances, and have been doing this for over 20 years, so we...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
Frequently asked questions
What should I look for when choosing an accountant for my medical practice?
When selecting an accountant, look for qualifications such as ACCA, ICAEW, or AAT, as these indicate a high level of professional competence. Experience with medical professionals is also important, as they will understand the specific tax rules and pension considerations that apply to doctors. Check that they offer services like Self Assessment and Corporation Tax preparation, and that they are registered with HMRC to act as agents. Finally, consider their communication style and availability, as you will want an accountant who is approachable and responsive to your queries.
How can an accountant help me with my HMRC tax return?
An accountant can prepare and file your Self Assessment tax return accurately and on time, ensuring you claim all allowable expenses and reliefs. They will review your income from various sources, including NHS salary, locum work, and private practice, and calculate the correct tax due. They can also advise on payments on account and help you plan for any tax liabilities. By using a qualified accountant, you reduce the risk of errors and penalties, and you gain peace of mind knowing that your tax affairs are in order.
What is the difference between an ACCA and an ICAEW accountant?
Both ACCA and ICAEW are prestigious professional bodies that require rigorous training and examinations. ACCA (Association of Chartered Certified Accountants) has a global focus and is recognised in many countries, whilst ICAEW (Institute of Chartered Accountants in England and Wales) is a leading UK professional body with a strong emphasis on business and finance. Both qualifications are highly respected and indicate a high level of expertise. The choice between them often comes down to personal preference and the specific services offered by the individual accountant.
Do I need a specialist accountant if I am a locum doctor?
Yes, a specialist accountant can be extremely beneficial for locum doctors. Locum work often involves managing multiple contracts, irregular income, and significant expenses such as travel and indemnity insurance. An accountant who understands the locum market can help you keep accurate records, claim all legitimate deductions, and set aside money for tax. They can also advise on whether it is more tax-efficient to work through a limited company or as a sole trader, and help you with VAT registration if your income exceeds the threshold.
Can an accountant help with VAT for my private practice?
Absolutely. If your private practice turnover exceeds the VAT registration threshold, you must register for VAT. An accountant can advise on the best VAT scheme for your situation, such as the flat rate scheme or standard accounting. They will help you complete VAT returns, ensure you charge the correct rate, and identify input tax that you can reclaim. They can also provide guidance on the VAT treatment of medical services, which can be complex, and help you avoid costly mistakes.
How often should I meet with my accountant?
It is advisable to meet with your accountant at least once a year to review your tax position and plan for the year ahead. However, many doctors benefit from more frequent contact, especially if they have significant changes income or are considering a new business structure. Your accountant can provide ongoing advice throughout the year, helping you make informed decisions about pensions, investments, and tax planning. Regular communication ensures that you stay on top of your finances and avoid any surprises at the end of the tax year.
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