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
Marden & Co Accountants Ltd
We are a two partner accountancy practice based in Epsom, serving Sutton, Banstead, Reigate, Dorking & across Surrey. We provide professional accounta...See More
Tax Cruncher
Tax Cruncher is an online accounting &Tax consulting firm serving clients nationwide. Our aim is to help SMEs to grow their business by crunching thei...See More
APRC Accountants
We are a forward thinking firm of Chartered, Certified Public Accountants & Tax Advisers and Chartered Payroll Professionals established in 2005 in th...See More
Central London Accountants
We are proud partners of leading software provider firm Xero, and we can help if you require Xero Accountants in London, Xero training, or need remote...See More
Cheap - Accountants
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London Accountants
We have been providing a range of tailored accounting and taxation services to individuals as well as small and medium sized businesses. See More
TITUS ACCOUNTS LTD
I know that telling you the truth won’t make me very popular with other accountants. If I'm honest I never liked them much anyway. Chances are (if yo...See More
Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Taxaccolega Chartered Accountants & Tax Advisers
As one of the brightest firms of chartered accountants in London, UK, Taxaccolega, based in Croydon, combines the passion and creative thinking of a s...See More
Owadally & Kings Partnership
At O&K we aspire to be one of the most forward thinking accountancy firms in Croydon. Our dedicated in-house team, and external specialists, based in ...See More
Cruse+Burke
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Financial Partnership London
The Financial Partnership LLP, London, is a young, dynamic and innovative firm of Accountants & Business Advisors who can help improve the performance...See More
Fitzgeralds Accountants Limited
We are a well established firm of accountants and tax advisors based in South West London, dealing with small businesses and high net worth individual...See More
Abu Umar & Co.
Welcome to Abu Umar & Co. We are a small Accounting firm, based in London, We specialize in dealing with all accounting problems. As we have been o...See More
" Accountify – Chartered Certified Accountants"
A firm of Chartered Certified Accountants based in London and Portsmouth. Accountify is an established brand in Accounting and Tax, serving its client...See More
Startup Accountants
Our startup accountants London operate with a specific approach to keep your business afloat. Gradually positioning it where you have dreamt it to be....See More
City Tax London
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Not Just Bookkeeping Ltd
Friendly Consulting offers a wide range of consulting services for several indu...
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Frequently asked questions
What specific financial challenges do doctors face that require specialist accountants?
Doctors often have multiple income streams, including NHS salaries, private practice earnings, and locum work. Each source has different tax and National Insurance implications. Additionally, complex pension schemes like the NHS Pension require careful planning to avoid annual allowance charges. A specialist accountant understands these nuances and can help structure your finances to minimise tax liabilities whilst ensuring full compliance with HMRC rules. They can also advise on practice structure, whether you are a salaried employee, a partner, or run your own limited company.
How can an accountant help with my Self Assessment tax return?
An accountant will ensure that your Self Assessment tax return is completed accurately and submitted on time to HMRC. They will identify all allowable expenses that you may have overlooked, such as professional subscriptions, indemnity insurance, and equipment costs. For doctors with private practice income, they will also help you calculate your Class 4 National Insurance contributions correctly. By using a qualified professional, you reduce the risk of errors that could trigger an HMRC enquiry, and you gain peace of mind knowing that your tax affairs are in order.
What is the difference between ACCA, ICAEW, and AAT qualified accountants?
ACCA (Association of Chartered Certified Accountants) and ICAEW (Institute of Chartered Accountants in England and Wales) are chartered accountancy bodies that require rigorous exams and practical experience. They are qualified to handle complex corporate and personal tax matters. AAT (Association of Accounting Technicians) is a lower-level qualification, but many AAT members progress to full chartered status. For doctors, choosing an accountant who is a member of ACCA or ICAEW ensures a high level of expertise, especially for tax planning and practice management. However, AAT-qualified professionals can still provide excellent bookkeeping and basic tax return services.
Can an accountant help me with VAT if I run a private practice?
Yes, if your private practice turnover exceeds the VAT registration threshold, you must register for VAT. An accountant will advise you on whether to register voluntarily, which can be beneficial if you incur significant VAT on business expenses. They will also help you complete VAT returns, choose the best scheme (such as flat rate or annual accounting), and ensure that you charge the correct rate on your services. For medical services, some exemptions apply, so it is essential to have an expert who understands the specific VAT rules for healthcare providers.
How do I find the right accountant for my medical practice in Leatherhead?
Start by using a directory like AccountingFirms.co.uk, which lists verified and regulated accountants. Filter your search to find firms that specialise in working with medical professionals. Look for accreditations from ICAEW or ACCA, and read client reviews or testimonials. Arrange initial consultations with a few firms to discuss your needs and assess their understanding of doctor-specific issues, such as NHS pensions and private practice income. It is important to choose someone with whom you feel comfortable and who communicates clearly, as you will be sharing sensitive financial information.
What are the benefits of using a specialist accountant for locum work?
Locum doctors often work through agencies or their own limited companies, which brings unique tax considerations. A specialist accountant will help you decide whether operating through a limited company is tax-efficient, and if so, they will manage your payroll, dividends, and Corporation Tax. They will also ensure that you are not caught by IR35 rules, which can affect your tax status. Additionally, they can help you claim expenses such as travel, professional indemnity, and training. This tailored advice can save you significant money and prevent costly mistakes.
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