
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
What specific services do accountants for doctors typically provide?
Accountants who work with doctors usually offer a range of services including preparation of Self Assessment tax returns, management of practice accounts, VAT returns, and Corporation Tax filings. They also provide advice on pension contributions, tax-efficient salary structures, and planning for retirement. Many also assist with HMRC enquiries and help you understand your tax code.
How can an accountant help me with my NHS pension and tax?
An experienced accountant will help you manage your NHS pension annual allowance and understand the tax implications of your contributions. They can advise on how to avoid annual allowance charges and plan your finances to mitigate any additional tax liabilities. This is particularly important for consultants and GPs who may be affected by the tapered annual allowance.
What qualifications should I look for in an accountant?
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 passed rigorous exams and adheres to a strict code of conduct. Membership also requires ongoing professional development, so your accountant stays up to date with changes in tax law and HMRC regulations.
How do I know if an accountant is regulated and verified?
You can verify an accountant's credentials by checking their registration with the relevant professional body, such as the ICAEW, ACCA, or AAT. These organisations maintain public registers of members in good standing. On AccountingFirms, we only list firms that have been verified as regulated and qualified, giving you confidence in their legitimacy.
Can an accountant help me with my self assessment tax return?
Yes, accountants for doctors frequently handle Self Assessment tax returns. They will gather all your income details, including earnings from locum work or private practice, and ensure that you claim all allowable expenses. They will also help you meet HMRC deadlines and avoid penalties, making the entire process stress-free.
What should I consider when choosing an accountant for my medical practice?
Consider the accountant's experience with medical practices, their familiarity with HMRC rules on partnerships and limited companies, and their ability to advise on VAT and Corporation Tax. It is also important to assess their communication style and whether they offer proactive advice. A good accountant will understand the unique financial challenges you face as a doctor.
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