As Accountants we have acted for healthcare professionals for many years including:
• medical consultants
• homecare support services
• complementary medicine & alternative healthcare providers
• veterinary practices
Healthcare professionals will have spent years studying, training & qualifying for their particular profession. However a different set of skills is required to tackle business issues & to help you minimise your tax burden and maximise retained profits.
We provide a comprehensive range of services that fit perfectly with the complexities of each individual.
Recent interest from this sector has focused on whether to remain as a sole trader/partnership or to incorporate the business to enable the division of income, reducing national insurance contributions & reducing income taxed at higher rates.
The services we offer in this sector include the production of periodic management accounts as well as annual accounts, the completion of tax returns (corporate & individual), payroll, VAT & compliance, if applicable, & outsourcing of financial & business services. For some clients we monitor their performance and provide business strategy advice too.
Where clients have multiple sources of income subject to national insurance contributions, we will carry out regular reviews to ensure that the maximum overall contributions are not exceeded.