If you are a healthcare or medical professional, it’s vital that you have an accountant who specialises in and understands your particular requirements.
CHC keeps fully up-to-date with the wide ranging reforms to the NHS system and the ever-changing legislation affecting the healthcare sector. We can guide you through the intricacies and complexities so that you can concentrate on your patients.
We can provide accounting, finance, tax and advisory services to:
- Doctors and GP practices
- Dentists
- Pharmacists
- Opticians
- Osteopaths
- Complementary healthcare specialists
- Vets
We understand the difference between running NHS and private practices. Our experts can explain the different types of business structures for GP and Dental practices, the rules and regulations and the advantages and disadvantages of incorporating or becoming a Limited Liability Partnership (LLP).
Our specialist healthcare team can help and advise on any of the following:
- Acquisition or disposal. We can help in the buying or selling of a practice or help raise finance to buy in to a practice
- Type of Business structure (LLP or incorporated)
- Partnership agreements and changes in partners and property
- Help set up your bookkeeping system and provide bookkeeping and payroll services on a temporary or permanent basis through our specialist outsourcing department
- Budget and tax estimates to calculate the appropriate levels of drawings
- Cashflow forecasting
- We will ensure they are not netted off income and highlight any potential missing costs which are not being claimed for tax relief
- National Insurance contributions. If income is split between employed and self-employed then you may be paying too much. We can help you obtain a deferment and refund if applicable
- Record keeping
- Registering start ups with HMRC
- Retirement planning. We have a specialist understanding of both NHS and private pension schemes and can explain how they interrelate, as well as 24 hour retirement plans and post-retirement working. With the changes in the annual allowance limits, we can also work with you to avoid, or at least prepare, for the unexpected tax charges which may arise from contributions which have been made on your behalf in the NHS scheme
- Tax and compliance issues
- Partnership and personal tax returns
- Specialist VAT advice for opticians regarding your full cost apportionment calculations to ensure you are getting the best saving available to you
- Preparing superannuation certificates for submission to primary care trusts
- Preparing GP annual earnings information for inclusion on practice’s website
- Independent financial advice through our IFA company, including pensions, wealth management, life assurance and income protection
We also make sure that we keep all our healthcare clients up-to-date with a regular newsletter specifically for this sector.
For more information on Clemence Hoar Cummings Chartered Accountants in Essex, please contact us.
