Medical Practitioners Accounting Services

We appreciate that medical practitioner in today’s world, are extremely busy not only managing their patients but also keeping abreast of required knowledge which medical profession continuously demands. Whilst you may be on top of the day to day running, this continued pressure may cause problems for you in other areas of your practice.

Not necessarily. But vast majority will have to if you have income from employment(S), investment,

Overseas, capital gains, rentals, or if you are a company director. You may also have income in excess of £100,000 from multiple sources, self-employed practice income, untaxed medical fess, or NHS related expenses to claim in which case you must file your file your self-assessment tax return or corporation tax return if trading as a corporation.

The answer is yes if on doctor’s NHS income, wrong PAYE coding has been used or several types of allowable reliefs are not claimed then you may well be in receipt of a tax rebate.

You may well be able to claim majority of the expenses such as professional body’s subscriptions, Charitable Gift Aid donations, personal pension contributions, car allowance or work related travel, use of home, medical equipment, and any other necessary expenses incurred in job.

Yes, provided certain conditions are met e.g.; proper employment and training contract is in place and such a training is fundamental in carrying out the employment duties under the contract. In which case any costs of travel to the training events, course fees and other associated costs incurred by the employee can be reimbursed by the medical practice/employer and are considered tax deductible.

Different types of national insurance contributions are due on employment(s) and self-employed income. It may well be that as a doctor you are charged NIC at all sources like NHS salary and locum fees. Medical practitioners may well be due a significant National insurance rebate or be able to defer class 1 NIC payments by applying to HMRC provided they are paying Class 1 National Insurance with more than one employer, or earning £827 or more per week from a single job, or earn £982 or more per week from 2 jobs over the tax year.

A reduced rate of NIC will be charged at 2% on your weekly earnings between £155 and £827 in one of your jobs (instead of the standard rate of 12%). However If you offering your services as a self-employed person you cannot defer Class 4 contributions any more.

Other Questions?

How much tax savings I can achieve by incorporating a limited company?
Can I employ my Spouse?
How can I withdraw money from practice in most tax efficient way?

Our specialist medical practitioner services team will help you and your practice to save money through our taxation management and tax advice & planning whilst keeping your obligations up to date and ensuring we are taking advantage of all the financial options that hold your best interests.

We offer a free initial consultation to assess your special needs and to demonstrate how we can meet your accountancy needs.


Tax Return Services (Self-employed/Locum/GP Accounts)

  • Self-assessment tax return preparation
  • Preparation of self-employed accounts
  • Income tax and capital allowances computations
  • Liaising with HMRC on your behalf
  • Dealing with tax implications of leaving/arriving UK
  • Applying for deferment of class 1, 2 and 4 National Insurance Contributions.
  • Year-end tax review and forward planning

Private Practice Accounts

  • Advice on becoming self-employed and registration with HMRC.
  • Business record keeping, manual or computerised accounting systems.
  • Advice on the National Insurance implications
  • Advice on tax-allowable practice expenditures
  • Advice on purchase of capital equipment for optimum capital allowances claims.
  • Preparation of annual accounts.
  • Payroll services
  • Vat returns
  • Tax Planning

Limited Company Tax Service

  • Formation of limited company
  • Advice on appropriate shareholder structure, legal obligations.
  • Payroll and VAT registration with HMRC
  • Advice on the most tax efficient remuneration structure e.g. salary, bonuses and dividends.
  • Bookkeeping, Quarterly/yearly management accounts
  • Preparation of the corporation tax return
  • Dealing with HMRC and Companies House.

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