If you’re running your own business or working for yourself, that’s time-consuming enough and that’s even more true if you are involved in some way with the medical profession, which comes with its own particular sort of stress. Rest assured, whatever field you’re in, we are here to take away the burden of doing accounts and tax-related activities.
Doctors’ tax is a typically tricky area. While doctors are typically self-employed, many doctors also work in the NHS, meaning that a proportion of their salary is PAYE. The pension element can be complex for doctors, who could typically have an NHS pension, as well as a private pension.
In addition, GPs could also be business owners, running their own surgeries, with practice accounts to manage, as well as potential private practice or ‘freelance’ income. Whatever their situation, we can support them with the preparation of both business and personal accounts.
We can make sure accounts are calculated as tax efficiently as possible. Nowadays, there may also be IR35 implications to consider too, as well as VAT, and claiming the relevant benefits and allowances.
If a doctor is heading up a GP practice, we can also advise them on business planning, including developing their practice, incorporation, succession planning and any potential mergers and acquisitions.
We don’t just look after doctors and have clients that also include other health professionals, including dentists and nurses, as well as osteopaths, opticians and chiropractors etc.
If you’ve got any questions at all, then please do get in touch on tel: 01892 513515.