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
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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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
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
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
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...
LFR Accounting
Accountancy and taxation services
Sabre Accountants
Sabre Accountants have built up a fantastic reputation as a trustworthy, affordable & reliable accountancy service. We provide accountancy services a...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
Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...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
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...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
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 tax reliefs can an accountant claim for doctors?
An accountant specialising in medical professionals can claim reliefs for expenses such as indemnity insurance, professional subscriptions, medical equipment, and continued professional development courses. They can also help with mileage claims for home visits and travel between hospitals. For locum doctors, expenses like agency fees and advertising costs are allowable. A qualified accountant will ensure you claim every legitimate deduction, reducing your overall tax liability whilst staying compliant with HMRC regulations.
How does an accountant help with Self Assessment tax returns?
An accountant will gather all your income details, including earnings from NHS work, private practice, and any other sources. They will calculate your tax liability accurately, considering all available allowances and reliefs. They will also ensure your tax return is submitted before the HMRC deadline, avoiding late filing penalties. Additionally, they can advise on payments on account and help you plan for future tax bills, so you are never caught off guard by unexpected charges.
What is the difference between an ACCA and an ICAEW accountant?
Both ACCA (Association of Chartered Certified Accountants) and ICAEW (Institute of Chartered Accountants in England and Wales) are prestigious professional bodies that require rigorous training and examinations. ACCA accountants often have a strong focus on international accounting standards, whilst ICAEW accountants are known for their expertise in UK corporate finance and audit. Both are regulated and recognised by HMRC, so you can trust either qualification. The choice may depend on the specific services you require and the accountant's experience with medical clients.
Can an accountant help with VAT registration and returns for a private practice?
Yes, an accountant can assist you with VAT registration if your private practice turnover exceeds the current threshold or if you choose to register voluntarily. They will manage your VAT returns, ensure you claim input tax on eligible purchases, and advise on the best VAT scheme for your practice, such as flat rate or annual accounting. They will also keep you informed about changes in VAT rules that may affect your services, ensuring full compliance with HMRC requirements.
What should I look for when choosing an accountant for my medical practice?
Look for an accountant who has experience working with doctors and understands the unique financial aspects of the medical profession. Check their qualifications, such as ACCA, ICAEW, or AAT, and ensure they are registered with a recognised supervisory body. Ask about their fee structure, the services included, and how they communicate with clients. It is also helpful to read reviews or ask for references from other medical professionals. A good accountant will offer proactive advice and be accessible when you need them.
How often should I meet with my accountant to review my finances?
It is advisable to have a formal review at least once a year, ideally before the end of the tax year, to plan for tax payments and consider any changes in your circumstances. However, you should also feel free to contact your accountant whenever you have questions or need advice on financial decisions, such as purchasing equipment or taking on additional work. Many accountants offer ongoing support throughout the year, so you can stay on top of your finances and avoid any surprises at tax time.
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