
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 tax issues do accountants for doctors handle?
Accountants for doctors manage complex areas such as NHS pension annual allowance, locum income, private practice earnings, and expense claims. They ensure accurate Self Assessment tax returns, advise on allowable deductions, and help with HMRC enquiries. Their expertise covers the unique financial structures that medical professionals encounter, ensuring full compliance and tax efficiency.
Why should a doctor choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualifications guarantee a high level of professional competence and ethical standards. These accountants undergo rigorous training and continuous development, ensuring they stay current with tax laws and regulations. For doctors, this means reliable advice on complex matters like pension contributions and income splitting, reducing the risk of errors and penalties from HMRC.
How can an accountant help with my NHS pension and tax?
An experienced accountant can calculate your annual allowance and identify any potential tax charges. They can advise on options like scheme pays to manage liabilities effectively. By analysing your total income and pension growth, they help you plan contributions to avoid unexpected tax bills, whilst ensuring you maximise your retirement benefits.
What records do I need to keep for my accountant?
You should keep records of all income, including payslips, private practice earnings, and rental income. Retain receipts for expenses such as professional subscriptions, equipment, travel, and home office costs. Your accountant will need bank statements, dividend vouchers, and any correspondence from HMRC. Organised records make the tax return process smoother and ensure you claim all deductions.
Can an accountant help me if I am a locum GP or hospital doctor?
Yes, accountants who specialise in the medical field are well-versed in the tax affairs of locum and hospital doctors. They can assist with IR35 considerations, expense apportionment, and managing multiple assignments. They will ensure your Self Assessment is accurate and that you are not paying more tax than necessary, whilst keeping you compliant with HMRC rules.
How do I find a reliable accountant for my medical practice?
Use a reputable directory like AccountingFirms.co.uk, which lists verified and regulated accountants. Look for those with experience in the medical sector and check their qualifications, such as ACCA, ICAEW, or AAT. Reading client reviews and requesting a consultation can help you assess their suitability. Ensure they are registered with a professional body and have a clear fee structure.
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