Medical Accountants

Our advice within the medical industry include assisting:

GP Practices

Your main concern is providing your patients with a high level of care and services, but as medical practices are facing a huge shortage of GPs, frustration over lack of funding, and an unprecedented demand for their services, it can be difficult to find the time to keep up to speed with industry and regulatory changes and take advantage of possible opportunities.

Despite the issues facing medical practices, they are expected to receive greater funding to expand services at a local level, and the use of technology is anticipated to improve patient access in line with the NHS’s five-year plan.

GP’s finances can be complex and there are many areas that may require assistance or advice. Our team of GP accountants aim to remove the burden placed on GP practices by providing tailor made advice. We are here to help you comply with relevant legislation and guide you through the opportunities open to you. We have been working with GP practices for numerous years and understand the importance of balancing management of finances, people and patients.

GP Partners

Becoming a Partner is a significant career step that is fraught with challenges, as well as changes in how you manage your finances, taxes, expenses. We aim to remove the financial pressures and guide you through any changes that your role may entail.

Salaried GPs

Similarly, we can assist salaried GPs by ensuring efficient management of your accounting and finances. We create tailored advice to assist each of our clients, and ensure that the financial intricacies of managing your own income streams are dealt with as well as advising on tax returns, tax codes and NHS pensions.

Locums

Managing accounts as a locum can become complicated. Dealing with numerous contracts and having flexible hours can make it challenging to maintain accurate records. As a GP Locum, you are responsible for your own finances and choices regarding tax. It may be best to seek expert advice to ensure that you are making the correct decisions. Equally, it is important to ensure you are managing your finances efficiently to avoid HMRC penalties.

Consultants

Consultants will have multiple income sources, each potentially requiring different treatment of tax and national insurance. As well as assistance with tax planning, returns and annual accounts, we can assist with book-keeping.

Federations

To maximise financial potential and patient service, groups of practices are becoming ever more common; these are known as GP federations or ‘super practices’. The remit of a federation is to share responsibility for delivering high quality, patient-focused services for its communities.
As a federation combines multiple practices, we appreciate that it can be challenging to remain abreast of multiple accounts, finances, bookkeeping. Our team of experts can effectively support by advising on all aspects of business planning, accounting, bookkeeping, payroll.