Medical Accountants

Checking up on your finances

It’s never been as crucial for medical professionals to monitor their finances closely. Whether you’re a locum GP, dentist, consultant or therapist, your finances are paramount in the healthcare sector.

While most accounting firms can assist with the basics, it takes independent specialist medical accountants to truly understand your tax position and the complexities of the medical field – as expert medical accountants, we can do it all.

Our proactive approach and in-depth knowledge of industry-specific challenges allow us to support you while you continue to provide the best care possible to your patients.

What we can do for you

We can help you with the broad strokes of your accounting needs – payroll, tax returns, and cashflow monitoring all come naturally to us. But we don’t stop there.

We understand the complexities of the NHS pension scheme and the challenges faced by doctors, salaried GPs, hospital doctors, and consultants in keeping track of their contributions while monitoring the tax implications. Let us take care of that for you.

Our job is to ensure you pay exactly the right amount of tax and not a penny more than necessary. To do so, we’ll familiarise ourselves with your medical practice’s structure, your books, and your outgoings. Once we have the whole picture, we can provide reliable, tailored expert advice to keep your tax bills from piling up.

What’s more, we can offer you the following services:

• Preparation of year-end accounts tailored to medical practices.

• A detailed report on your practice’s financial performance, including comparative data, statistical analysis, and benchmarking, alongside suggestions for improvement where appropriate.

• Meetings with practice partners at least once a year to run through the results in more detail and discuss other points of current interest.

• Projections for the forthcoming accounting year to aid in retirement planning and financial decision-making.

• Advice on restructuring practice finances to make the most efficient use of capital.

• Ad-hoc telephone advice throughout the year to support your changing financial situation.

• Provision of personal mortgage reference letters to lenders where partners wish to take out new loans or mortgages.

• Assistance in obtaining a fixed fee quote for straightforward accounting tasks, ensuring a hassle-free process.

Providing aftercare

In the medical profession, your work is never done. You’ll constantly face new challenges in your day-to-day career. So even after we’ve helped get everything in order, we’ll be on hand to offer our guidance, expert advice, and support whenever you may need it.

We understand that many medical practices, including two partner practices in South East England, face unique financial pressures such as surplus ARRS funding potentially pushing them over the VAT threshold. Our team is experienced in navigating these complexities to protect your interests.

If you’re considering a change accountants or are unhappy with your current accountant, we can help you make an informed decision. Our independent specialist medical accountants are highly recommended by healthcare professionals across England for delivering tailored, straight forward, and effective accounting solutions.

Partner with a true specialist who understands the medical profession and healthcare environment. Let us help you manage your finances with confidence and ease.

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