
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

Breco Accounting Services
Client centered accountant concentrating on helping small businesses and individuals. Friendly Service, Competitive rates. Payroll Services, Vat Retur...See More

TaxKings Tax Made Simple
TaxKings work with owner managed businesses all over the UK. With off...

IDEO BUSINESS SERVICES LTD
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.

Stewart Accounting Services
Stewart Accounting Services, Chartered Accountants, is a CA firm with its main office in Alloa, Clackmannanshire. We also have offices in Falkirk and ...See More

Agility Bookkeeping
Agility Bookkeeping is a Xero online bookkeeping firm based in the UK having three offices in Glasgow, Stirling, and Edinburgh. Whether you are a new ...See More

TI Accountancy Limtied
TI Accountancy was established in 2002 by its owner Tracy Irwin, who grew the company organically through her hard work and determination to the Emplo...See More

CloudBook Accountants Ltd
Since we were established in 2013, we have done everything online - from getting a quote to signing off your accounts. It's easier and quicker, so it ...See More

LFR Accounting
Accountancy and taxation services

Tax Returns - London
At Cheap Tax Returns, we love to give a personalized touch to the service we provide. As an accountancy firm, we understand small business owners and ...See More

NIXON WILLIAMS LIMITED
Nixon Williams has been providing specialist accountancy services to contractors, freelancers, consultants and interim professionals throughout the UK...See More

LLOYDS ACCOUNTANTS LTD
We offer accounts, taxation and business advisory and support services to a wide range of businesses and individuals, nationwide. We continue to build...See More

Sabre Accountants
Sabre Accountants have built up a fantastic reputation as a trustworthy, affordable & reliable accountancy service. We provide accountancy services a...See More

Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More

Holden Associates
Holden Associates are a family run business founded in 2002, we are located at V12, Merlin Park, a modern purpose-built office in Burscough, Lancashir...See More

GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More

C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken

Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...See More

MJF ACCOUNTANCY LIMITED
Frequently asked questions
What specific tax issues do accountants for doctors handle?
Accountants for doctors typically manage complex Self Assessment tax returns, incorporating income from NHS roles, private practice, and locum work. They also advise on pension annual allowance charges, which are a common issue for higher-earning medics. Additionally, they can assist with capital allowances on equipment and ensure you are claiming all allowable expenses, such as professional subscriptions and indemnity insurance, to reduce your overall tax bill.
How can an ACCA or ICAEW qualified accountant help with HMRC compliance?
An ACCA or ICAEW qualified accountant provides expert assurance that your tax affairs are fully compliant with HMRC regulations. They ensure your tax return is filed accurately and on time, reducing the risk of penalties or investigations. Their professional expertise also means they can represent you in correspondence with HMRC, handling any queries or disputes on your behalf, which is invaluable for busy medical professionals.
Should I use an accountant if I am a locum doctor?
Yes, using an accountant is highly recommended for locum doctors. Your income often comes from multiple sources and may be subject to different tax treatments. An accountant can help you decide whether to work as a sole trader or through a limited company, which has significant tax implications. They will manage your records, calculate your payments on account, and ensure you meet all HMRC deadlines.
What is the difference between a sole trader and a limited company for a doctor?
As a sole trader, you pay Income Tax on your profits via Self Assessment, and you are personally liable for any debts. Operating through a limited company means you pay Corporation Tax on company profits, and you may take a salary and dividends. An accountant can model both scenarios to show which is more tax-efficient for your specific income level, helping you make an informed decision.
How do accountants help with VAT for a private medical practice?
If your private practice turnover exceeds the VAT registration threshold, you must charge VAT on your services. An accountant will advise you on when to register and manage your VAT returns. They can also help you understand which expenses you can reclaim VAT on, ensuring you are not overpaying. This specialist advice is crucial for maintaining cash flow and staying compliant with HMRC.
Why is it important to have an accountant who understands the NHS pension scheme?
The NHS pension scheme has complex rules regarding annual allowance and lifetime allowance, which can create unexpected tax charges. An accountant who understands this scheme can calculate your pension input amounts and advise on whether you have exceeded the annual allowance. They can also suggest strategies, such as making additional contributions or using carry forward, to mitigate any potential tax liabilities.
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