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
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
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
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
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
OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
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
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
As a small business owner, your main focus is to work on your business strengths to help it grow, and you can’t just achieve it through juggling every...See More
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
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
Coman And Co Ltd
Chartered Tax Advisers and Chartered Certified Accountants, we offer assistance with tax return compliance and specialist tax consultancy services for...See More
EFJ CONSULTING LTD
We are the firm of Chartered Certified Accountants based in London. We provide professional and practical help with all aspects of accountancy and tax...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
" 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
Frequently asked questions
What specific services do accountants for doctors typically offer?
Accountants specialising in the medical field typically offer a range of services tailored to doctors. These include preparing and filing Self Assessment tax returns, managing VAT for private practice, and advising on the most tax-efficient business structure, such as a limited company. They also provide pension contribution planning to avoid annual allowance charges, and offer strategic advice on capital gains tax for property or investments. Many also handle bookkeeping, payroll for practice staff, and provide ongoing financial planning to help you meet your long-term goals.
Why is it important for doctors to use a specialist accountant?
Doctors have unique financial circumstances, including multiple income streams and complex pension rules. A specialist accountant understands the intricacies of the NHS pension scheme and the annual allowance, which can be easily breached. They are also adept at handling the tax implications of private practice and locum work. By using a specialist, you benefit from tailored advice that maximises your tax efficiency and ensures full compliance with HMRC, potentially saving you significant sums of money and reducing the risk of penalties.
What qualifications should I look for in an accountant for my medical practice?
When choosing an accountant, look for recognised professional qualifications from bodies such as the Association of Chartered Certified Accountants (ACCA), the Institute of Chartered Accountants in England and Wales (ICAEW), or the Association of Accounting Technicians (AAT). These qualifications demonstrate a high level of expertise and adherence to professional standards. Additionally, consider whether the accountant has experience working with doctors or medical practices, as this indicates an understanding of the specific challenges you face. Membership in a professional body also means they are subject to ongoing training and ethical regulations.
How can an accountant help me with my Self Assessment tax return?
An accountant can take the stress out of your Self Assessment tax return by ensuring all your income sources are accurately reported and that you claim all allowable expenses. They will help you organise your financial records, calculate your tax liability, and submit the return to HMRC before the deadline. They can also advise on payments on account and help you plan for future tax bills. By using a professional, you minimise the risk of errors that could trigger an HMRC investigation and ensure you are not paying more tax than necessary.
What is the benefit of using a directory like AccountingFirms to find an accountant?
Using a directory like AccountingFirms saves you time and effort by bringing together a list of vetted accountants in your area. You can compare different firms based on their qualifications, services, and client reviews, all in one place. This allows you to make an informed decision without having to contact each practice individually. The platform was built by accountants, so you can trust that the information provided is relevant and reliable. It is a convenient way to find a specialist who meets your specific needs.
Can an accountant help me with VAT for my private practice?
Yes, an accountant can provide invaluable assistance with VAT for your private practice. They can advise on whether you need to register for VAT, based on your taxable turnover, and help you complete the registration process. They will also guide you on the appropriate VAT scheme, such as the flat rate scheme, which may be beneficial for your circumstances. Furthermore, they can assist with preparing and submitting VAT returns, ensuring you claim all eligible input tax and remain compliant with HMRC regulations, thus avoiding penalties.
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