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
J. Jervis Accounting Services LTD
THE FINANCIAL MANAGEMENT CENTRE UK LTD
Online firm
ACCOUNTS 2U LIMITED
Our director, Howard Turner MAAT ATT, qualified as an accounting and taxation technician in 1995 after training with chartered accountants in Cheshire...See More
Oakes Accounting
Oakes Accounting specializes in providing tailor made accounting services, including bookkeeping, VAT and self assessment to small businesses.
MJF ACCOUNTANCY LIMITED
BROOKSON LIMITED
Why Brookson? There are plenty of reasons. We’re specialists at dealing with self-employed finances, and have been doing this for over 20 years, so we...See More
Business Partners Accountants & Bookkeepers
An accounting firm for all your accounting and bookkeeping needs Business Partners Accountants & Bookkeepers is a reputable accounting firm serving so...See More
MRC Accounting Services
Providing accounting services and solutions
Sambhav Management Limited
Since 2012, we’ve offered clients the tools, resources and guidance necessary for all their accounting needs. Clients receive the personalized attenti...See More
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R Albert Accountancy Ltd
We are an AAT Licensed accountancy practice providing a professional and friendly service. A new accountancy practice offering fantastic one to one s...See More
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
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Norbury Bookkeeping Services
We offer a complete bookkeeping and computerized payroll service throughout Cheshire and South Manchester and are able to offer support for all financ...See More
Athena Bookkeeping Services
Athena Accounting and Bookkeeping Services. ?Let us take good care of your finances giving you more time to focus on the day to day running of your bu...See More
PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...See More
GORILLA ACCOUNTING LIMITED
orilla Accounting was born after a group of specialist accountants with decades of experience amongst them, decided that accounting shouldn’t be a lab...See More
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...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
Frequently asked questions
What specific services do accountants for doctors offer?
Accountants specialising in the medical sector provide services such as Self Assessment tax return preparation, NHS pension scheme advice, private practice income management, and limited company accounting. They also assist with VAT registration and returns, Corporation Tax, and HMRC compliance. These professionals understand the unique financial landscape of doctors, including locum work and consultancy, ensuring that all tax reliefs and allowances are maximised.
How can 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 correspondence and gathering the necessary documentation. They will analyse your records, prepare a robust response, and negotiate on your behalf. Having a professional who understands HMRC procedures reduces stress and helps ensure a favourable outcome. Many accountants offer insurance for tax investigations as part of their service, providing additional peace of mind.
What qualifications should I look for in an accountant?
Look for accountants who are members of recognised professional bodies such as ICAEW, ACCA, or AAT. These qualifications indicate that the accountant has undergone rigorous training and adheres to strict ethical and professional standards. Membership in such bodies also requires continuous professional development, ensuring that your accountant stays up to date with the latest tax laws and regulations. Always verify their credentials before engaging their services.
Why is it important for doctors to have a specialist accountant?
Doctors have complex financial situations, including multiple income sources, pension considerations, and potential partnership or limited company structures. A specialist accountant understands the nuances of the medical profession, such as the NHS pension scheme and the tax implications of private work. They can provide tailored advice that maximises tax efficiency and ensures full compliance with HMRC. This specialised knowledge helps you avoid costly mistakes and optimise your financial planning.
How often should I meet with my accountant?
It is advisable to have at least two meetings per year with your accountant: one for tax planning before the end of the tax year and another to review your annual accounts and tax return. However, you may need more frequent contact if your financial situation changes, such as starting a private practice or taking on additional locum work. Many accountants offer ongoing support and are available for consultations throughout the year to address any questions or concerns.
Can an accountant help me with my Self Assessment tax return?
Yes, accountants are well-versed in preparing and filing Self Assessment tax returns for doctors. They will ensure that all income, including salary, private practice earnings, and any other sources, is accurately reported. They also identify allowable expenses and reliefs specific to your profession, reducing your tax liability. By entrusting your tax return to a professional, you can avoid errors and penalties, and they will submit it to HMRC before the deadline.
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