If you are a healthcare or medical professional, it’s vital that you have an accountant who specialises in and understands your particular requirements.
Smailes Goldie 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 heathcare 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
- Expenses. 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
- Independent financial advice through our IFA company Smailes Goldie Financial Management, 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. Our healthcare accountants are headed up by our partner, Nicki Shipley, who has a particular interest in the healthcare sector. Meanwhile our managing partner Ian Lamb has vast experience in dealing with the acquisition and disposal of pharmacies and pharmacy chains, having acted for many years for the one of the UK’s most active acquirers in the sector. Details of our specialist services to the pharmacy sector can be found by clicking here.
For a free, no obligation consultation, please contact us here.
