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
Why do healthcare professionals need specialist accountants?
Healthcare professionals often have complex income from NHS contracts, private work and locum shifts, alongside specific expense rules. Specialist accountants understand these structures, helping with tax returns, VAT and practice accounts. They can identify allowable costs, explain obligations clearly and reduce the risk of errors. This support allows clinicians to focus on patient care whilst keeping finances compliant and well organised.
What qualifications should I look for in an accountant?
Look for membership of recognised bodies such as ACCA, ICAEW or AAT, as this indicates regulated standards and ongoing professional training. Qualified accountants can prepare tax returns, advise on Corporation Tax and handle Self Assessment accurately. They should also have experience with healthcare clients, understanding NHS income, private fees and practice expenses. Verification and clear communication are also important when comparing providers.
How can an accountant help with HMRC compliance?
An accountant can register your practice for the relevant taxes, prepare and file returns on time and ensure VAT treatment is correct. They liaise with HMRC on your behalf, respond to queries and help resolve discrepancies. They also keep records organised and advise on deadlines for Self Assessment and Corporation Tax. This reduces the risk of penalties and supports smoother inspections or reviews.
Do healthcare accountants assist with VAT and Corporation Tax?
Yes, many healthcare accountants advise on VAT registration, partial exemption and the correct treatment of medical services. They also prepare Corporation Tax computations for incorporated practices and limited companies, ensuring allowable deductions are claimed. For sole traders and partnerships, they explain how profits are taxed and what payments are due. This helps practices remain compliant and plan cash flow effectively.
What should I prepare before contacting an accountant?
Gather recent bank statements, income records, expense receipts and any previous tax returns or accounts. If you operate through a limited company, include payroll details and VAT records. Note key questions about Self Assessment, Corporation Tax or practice structure. Having this information ready helps accountants provide accurate advice and a clearer quote for ongoing support.
How does AccountingFirms help me choose an accountant?
AccountingFirms allows you to browse qualified professionals, compare services and review firm details in one place. Established in 2019 and built by ICAEW and ACCA accountants, the directory focuses on verified, regulated providers. You can shortlist firms experienced in healthcare, request information and compare providers before deciding. This makes it easier to find support suited to your practice and location.
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