
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
Frequently asked questions
What specific tax issues do accountants for doctors handle?
Accountants for doctors specialise in areas such as pension annual allowance charges, NHS pension scheme complexities, locum income, and private practice earnings. They also manage Self Assessment tax returns, ensure correct treatment of expenses like indemnity insurance and courses, and provide advice on tax-efficient structures, including limited companies for locum work.
Why is it important to choose an ACCA or ICAEW qualified accountant?
ACCA and ICAEW qualifications demonstrate a high level of professional competence and adherence to strict ethical guidelines. These accountants are regulated and required to maintain their knowledge through continuous professional development. This ensures they provide accurate, up-to-date advice and handle your financial affairs with the utmost integrity, giving you confidence when dealing with HMRC.
How can an accountant help with my NHS pension annual allowance?
The NHS pension scheme has complex rules regarding annual allowance, and many doctors inadvertently exceed the threshold. A specialist accountant can calculate your pension growth, identify if you have a tax charge, and advise on options such as scheme pays. They will also help with forward planning to minimise future charges, ensuring you are not paying more tax than necessary.
What is the difference between a tax return and a full accounts preparation service?
A tax return (Self Assessment) reports your income and capital gains to HMRC and calculates your tax liability. Full accounts preparation involves producing a complete set of financial statements, including a balance sheet and profit and loss account, which is necessary for limited companies. An accountant will determine which service you need based on your employment status and business structure.
Can an accountant help me with VAT if I am a doctor?
Yes, although many doctors are not VAT-registered due to the nature of their services, some private practices or consultancy work may exceed the VAT threshold. An accountant can advise on whether you should be VAT-registered, help you register, and manage your VAT returns. They will also ensure you correctly reclaim VAT on eligible business purchases, saving you money.
How do I find a reliable accountant for my medical practice in Wrexham Clwyd?
You can use AccountingFirms.co.uk to browse a directory of verified, regulated accountants who specialise in working with doctors. The platform allows you to compare providers, read client reviews, and check their qualifications. This ensures you select a professional who is experienced in medical taxation and who can offer the tailored support your practice requires.
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