Accountants for Healthcare Medical Professionals

Healthcare Medical Professionals

The health care industry is constantly changing – even practitioners in private practice still have to deal with massive compliance needs. We have specialist health care accountants with the experience to take care of all
your compliance needs.

They have been working with care homes, dental practices, GPs and other healthcare professionals for years providing a range of taxation, accountancy and management services.

GM Professional Accountants are specialist and provide tailor made packages for small – medium sized businesses. Our offices are located in London, Manchester and Essex.

Find out more

See the difference between Sole trader V Limited company for your healthcare business 

Specialist Medical Accountants

How we can help

The advisory and accounting needs requirements for each health care profession have subtle differences.

We have a team that has a good understanding of those small differences that will provide advice that fits your area of practice. GP practices

We can assist GPs by offering:

1. Regular end of the year accounting and management
2. Software selection and training
3. Tax planning and compliance
4. Property ownership, partnership changes, and succession planning
5. Guidance on alternate corporate structures
6. Cash flow management and partner drawings planning
7. Specialist capital allowance deductions for surgeries
8. Lifetime allowance planning, estimates for yearly allowance and NHS pension reports
9. Superannuation certificates

In addition to acting for the business, the firm also offers wealth management and tax planning advice to individual GPs.

If you are a doctor, hospital consultant, salaried GP or locum, we can help with your very specific tax management and accounting requirements such as:

1. Annual tax returns and accounting needs
2. Alternative business structures your business could take
3. Help with NHS pension returns
4. NHS pension projections and reports
5. Retrospective tax claims of examination and professional fees
6. Advice with regard to business bookkeeping and tax-deductible expenses

Dentists

The team can provide you with support services that include:

1. Year-end accounting and regular management
2. Practice disposals and acquisitions
3. Tax planning and compliance
4. Lifetime Allowance planning, projections for Annual Allowance and NHS pension reports
5. Alternate corporate structures your practice could take
6. Superannuation annual reconciliation reports
7. Specialist capital allowance claims for new build and existing surgeries
8. Capital allowance planning for surgery equipment

NHS Pensions

Some medical practitioners count the NHS Pension Scheme as one of the most valued assets. Since the NHS
Pension Scheme tends to be very complicated, it is prudent to get the services of a specialist that has a good
understanding of how it all works.

We have experienced medical accountants in our team that know all the
intricacies of the scheme that will look into your personal situation and provide guidance.

They will advise
you on what you can do to safeguard and make the most of your financial situation.

For more information or help check out our NHS Pensions page.

Care Home Owners

A care home has distinct accounting requirements given that it is a highly specialized business. Moreover, it also tends to have very complicated compliance requirements that require a specialist eye. We have in house
experts that will assist you with:

1. Management reporting, bookkeeping, payroll, and annual accounts
2. Partial exemption VAT calculations, corporation, partnership, and personal tax returns
3. Business structure review and tax planning