
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

Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...See More

QUENTELA ACCOUNTING LIMITED
Quentela Accounting is a family run accountancy practise based in Wokingham, Berkshire. We are a small business but with an emphasis on BIG commitment...See More

Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More

DEAD SIMPLE ACCOUNTING LTD
Dead Simple Accounting is an expert accounting firm based in Reading, Berkshire. We’ve been supporting the local business community in Reading with a ...See More

BARNES MAYER LIMITED
Barnes Mayer Ltd is an independent, family run business providing accounting and taxation services throughout Maidenhead, Berkshire and Buckinghamshir...See More

The Bean Counters Accountants LLP
Established in 2011, The Bean Counters Accountants is a growing accounting firm in Maidenhead which specializes in cloud accounting and bookkeeping, p...See More

DIrect Assist accountants Ltd
Direct Assist accountants Ltd is one of the fastest growing chartered accountants firm serving businesses and individuals from different industries fr...See More

TITUS ACCOUNTS LTD
I know that telling you the truth won’t make me very popular with other accountants. If I'm honest I never liked them much anyway. Chances are (if yo...See More

EXPEDIENT ACCOUNTANCY
Expedient Accountancy Limited provides a wide range of expert accounting services. We are a partnership of 3 Chartered Certified Accountants with more...See More

Hayes Accountants
Hayes Accountancy is your local accountancy service provider & part of the group BNW Accountants & Tax Consultants. We offer high-quality accounting a...See More

City Tax London
City Tax London provides unparalleled personalized accounting services and th...

MINT FORMATIONS LTD
We have over 100 years of combined industry experience, having worked with hundreds of startups and small businesses in every industry imaginable. We ...See More

Yourtaxhelp
Our motto is “Accountants and Tax Advisers with simple technology”. We will not stop being innovative or using cutting edge technology to help you out...See More

Numerii Ltd
Informed financial support for your business. We are a small, friendly and highly motivated team who offer a professional and efficient service to our...See More

Taxeasy Ltd
TaxEasy Ltd is an experienced and proactive firm of certified accountants and bookkeepers offering high quality accounting services to clients through...See More

MAKESWORTH LIMITED
Makesworth
Accountants is an award-winning accountancy practice of Chartered
Certified Accountants tax and business advisors. We a...
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Financial Partnership London
The Financial Partnership LLP, London, is a young, dynamic and innovative firm of Accountants & Business Advisors who can help improve the performance...See More
Modus Accountants Limited
Whether you are looking for advice, inspiration, accountancy services or all three, our integrated services will provide as much or as little su...See More
Frequently asked questions
What specific tax issues do accountants for doctors handle?
Accountants for doctors specialise in the unique financial challenges faced by medical professionals, including the NHS pension scheme, the tapered annual allowance, and multiple income streams from locum or private work. They prepare Self Assessment tax returns, ensure compliance with HMRC, and advise on allowable expenses such as professional memberships, indemnity insurance, and equipment. They also help with VAT registration and Corporation Tax if you operate through a limited company, ensuring you meet all deadlines and minimise your tax liability legally.
How can an accountant help with my NHS pension and tax allowances?
An experienced accountant will analyse your pension contributions against the annual allowance and the tapered annual allowance, which can affect doctors with higher incomes. They will calculate any potential tax charges and suggest strategies to manage them, such as carrying forward unused allowances or restructuring your income. By keeping accurate records and planning ahead, they help you avoid unexpected tax bills and ensure you make the most of your pension benefits whilst staying within HMRC rules.
What qualifications should I look for in an accountant?
Look for an accountant who is a member of a recognised professional body such as ACCA, ICAEW, or AAT. These qualifications ensure the individual has undergone rigorous training and adheres to strict ethical standards. Additionally, seek someone with experience in the medical sector, as they will be familiar with the specific tax rules that apply to doctors. Membership in these bodies also means they are required to undertake continuous professional development, keeping their knowledge up to date with current legislation.
Can you help with VAT and Corporation Tax for a doctor's private practice?
Yes, accountants for doctors can assist with VAT registration, VAT returns, and Corporation Tax if you run your practice through a limited company. They will advise on the most tax-efficient structure, ensure you claim all allowable expenses, and help you meet your filing obligations with HMRC. They also provide guidance on capital allowances for equipment and property, and can help with payroll if you employ staff. Their expertise ensures you remain compliant whilst optimising your tax position.
How often should I meet with my accountant?
It is advisable to have a meeting at least twice a year, once for tax planning and once before your Self Assessment deadline. However, many doctors benefit from more frequent contact, especially if their income or circumstances change. Your accountant should be available for ad hoc queries and should proactively inform you of any changes in tax law that affect you. Regular communication helps you stay on top of your finances and avoids last-minute surprises at the end of the tax year.
What records do I need to keep for my accountant?
You should keep records of all income, including payslips from the NHS and any private or locum work, as well as receipts for expenses such as travel, equipment, professional subscriptions, and insurance. If you are self-employed, you must also keep a record of your business mileage and any home office costs. Your accountant will provide a checklist of acceptable records and may use cloud accounting software to simplify the process. Accurate record-keeping ensures your tax return is correct and reduces the risk of an HMRC enquiry.
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