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
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
IDEO BUSINESS SERVICES LTD
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TaxKings Tax Made Simple
TaxKings work with owner managed businesses all over the UK. With off...
Breco Accounting Services
Client centered accountant concentrating on helping small businesses and individuals. Friendly Service, Competitive rates. Payroll Services, Vat Retur...See More
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
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
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
Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...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
NIXON WILLIAMS LIMITED
Nixon Williams has been providing specialist accountancy services to contractors, freelancers, consultants and interim professionals throughout the UK...See More
MGM & CO. Chartered Certified Accountants
If you are looking for professional accountants offering a full range of accountancy and tax services to clients from across the UK, you have come to ...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
Accounting 4 Ltd
Registered practice offering accountancy services from Bookkeeping, Payroll, Vat, Self Assessment, Small Limited Company accounts etc Qualified to AAT...See More
Clarity Accountants
We work closely with our clients and act for a broad range of business and personal clients. Apart from the more general accountancy services we can a...See More
Frequently asked questions
What specific services do accountants for doctors provide?
Accountants for doctors typically offer services such as Self Assessment tax return preparation, practice accounts, VAT returns, Corporation Tax compliance, and payroll for practice staff. They also provide strategic tax planning, including pension contribution advice, capital gains planning, and assistance with HMRC enquiries. Many firms specialise in helping locums and consultants manage multiple income sources and expenses, ensuring full compliance with HMRC regulations while maximising allowable deductions.
How can an ACCA or ICAEW qualified accountant benefit a medical practice?
An ACCA or ICAEW qualified accountant brings a high level of technical expertise and professional integrity to your practice. They are regulated by recognised professional bodies, which means they adhere to strict ethical and technical standards. Their training ensures they are up to date with the latest tax legislation, including changes to National Insurance and dividend taxation. This expertise helps you structure your practice efficiently, reduce tax liabilities, and avoid costly penalties for non-compliance.
What should I look for when choosing an accountant for my medical finances?
When selecting an accountant, look for someone with experience in the healthcare sector, ideally with a track record of working with GPs, consultants, or locums. Check their professional qualifications, such as ACCA, ICAEW, or AAT membership, and confirm they are registered with a recognised supervisory body. It is also important to consider their communication style, availability, and whether they offer proactive advice on tax planning, not just annual compliance. Reading client reviews can provide valuable insight.
How does an accountant help with HMRC tax investigations?
If HMRC opens an investigation into your tax affairs, an experienced accountant can act as your representative, handling all communication and providing the necessary documentation. They will review your records, identify any potential issues, and negotiate with HMRC on your behalf. This reduces stress and ensures your rights are protected. A qualified accountant will also help you prepare for any future enquiries by maintaining accurate and complete financial records, which is essential for a smooth resolution.
Are there tax advantages to using a limited company for a doctor's practice?
Operating as a limited company can offer tax advantages, such as lower Corporation Tax rates compared to income tax, and the ability to pay yourself through a combination of salary and dividends, which may be more tax-efficient. However, this structure also brings additional administrative responsibilities, including filing annual accounts and Corporation Tax returns. An accountant can analyse your individual circumstances, including your pension contributions and NHS income, to determine whether incorporation is the best option for you.
How often should I meet with my accountant for doctors?
It is advisable to have at least two formal meetings per year, one for tax planning before the end of the tax year and another to review your annual accounts and tax return. However, many accountants offer ongoing support throughout the year, especially if you have significant financial changes, such as buying property, changing employment status, or starting a private practice. Regular communication ensures you stay ahead of deadlines and can make informed decisions about your finances.
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