
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 for doctors typically provide a range of services tailored to medical professionals, including preparation of Self Assessment tax returns, advice on pension contributions and annual allowance, management of income from multiple sources such as NHS and private practice, VAT registration and returns for private practices, Corporation Tax for limited companies, and proactive tax planning to minimise liabilities. They also assist with HMRC enquiries and help you structure your finances efficiently.
How can an accountant help with my NHS pension and annual allowance?
An accountant specialising in medical finances will analyse your pension contributions against the annual allowance, which can be complex due to the tapered annual allowance for higher earners. They can calculate any potential tax charges, advise on whether to use scheme pays or settle charges personally, and help you plan your contributions to avoid unexpected tax bills. They will also liaise with HMRC to ensure your pension savings are reported correctly.
What qualifications should I look for in an accountant?
Look for accountants who are members of recognised professional bodies such as ACCA, ICAEW, or AAT. These qualifications ensure the accountant has undergone rigorous training, adheres to a strict code of ethics, and participates in continuing professional development. Membership in these bodies also means the accountant is regulated and subject to oversight, giving you confidence in their competence and professionalism.
How does an accountant assist with HMRC tax investigations?
If HMRC opens an enquiry into your tax affairs, an experienced accountant will act as your representative, handling all communication with HMRC on your behalf. They will gather the necessary documentation, prepare detailed responses, and negotiate with HMRC to resolve the matter favourably. Having a professional who understands tax law and HMRC procedures can significantly reduce stress and help you achieve the best possible outcome.
Can an accountant help me claim all the expenses I am entitled to as a doctor?
Yes, a specialist accountant will ensure you claim every allowable expense, including professional indemnity insurance, GMC registration fees, medical defence union subscriptions, specialist clothing, travel between workplaces, and costs associated with your private practice. They will also advise on claiming expenses for courses, conferences, and equipment that are directly related to your role, ensuring you maximise your tax savings whilst remaining compliant with HMRC rules.
Why is it beneficial to use a local accountant in Hants?
Using a local accountant in Hants means you can meet face-to-face, which is particularly useful for discussing complex matters like pension planning or practice finances. A local firm will also have a good understanding of regional issues, such as local NHS trust structures and private healthcare providers, and can offer more personalised service. They are also more accessible for regular meetings and can provide support that is tailored to your specific circumstances.
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