
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

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
Frequently asked questions
Why do doctors need a specialist accountant rather than a general practitioner?
Doctors have unique financial circumstances, including multiple income sources from NHS trusts and private work, plus complex pension rules. A specialist accountant understands these intricacies, helping you optimise your tax position legally. They are familiar with specific HMRC guidance on medical expenses and can ensure you claim all allowable deductions, which a general accountant might overlook.
What qualifications should I look for when choosing an accountant?
Look for professionals who are members of recognised bodies such as ACCA, ICAEW, or AAT. These qualifications ensure the accountant has undergone rigorous training and adheres to strict ethical and professional standards. Membership in these bodies also means they are required to complete continuous professional development, keeping their knowledge of tax law and financial regulations up to date.
How can an accountant help with my Self Assessment tax return?
An accountant will accurately prepare and submit your Self Assessment tax return to HMRC, ensuring all income from both NHS and private work is declared correctly. They will identify all allowable expenses, such as professional subscriptions, equipment, and travel, to minimise your tax bill. They also ensure you meet all deadlines, avoiding penalties for late submission.
What is the benefit of using a firm that is ACCA or ICAEW regulated?
Using a firm regulated by ACCA or ICAEW provides you with added security and confidence. These bodies have strict codes of conduct and require firms to carry professional indemnity insurance. If you have a complaint, you have recourse to an independent complaints procedure, ensuring you are protected and treated fairly.
Can an accountant help me with Corporation Tax if I run a limited company?
Yes, if you operate your private practice through a limited company, an accountant is essential for managing your Corporation Tax obligations. They will prepare your company accounts, calculate the tax due, and file the necessary returns with HMRC. They can also advise on salary versus dividend extraction strategies to maximise your income efficiency.
How do I find the right accountant for my specific medical speciality?
Start by using a directory like AccountingFirms.co.uk, which allows you to filter local firms in Christchurch Dorset. Review their profiles to see if they mention experience with medical professionals. You can also contact the firms directly to ask about their experience with your specific speciality, such as GPs, surgeons, or consultants, to ensure they understand your unique financial landscape.
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