Medical Practice Accountants
If you’re a medical professional - doctor, dentist or medical practice - Johnston Smillie can provide you with a wide range of specialist bookkeeping and accounting services.
From a financial point of view, the medical profession may just be the most complex of all.
With the growth of private medical plans, hospital trusts, and the constant changes to the structure of the NHS, doctors require expert and timely advice on financial matters now more than ever.
And it’s fair to say that dealing with long shifts and life-or-death situations will only serve to diminish your appetite for financial management and tax planning.
That’s why you need a trusted medical accountant with a wealth of experience in the sector to lighten your load.
Enter Johnston Smillie.
Opportunity & Admin
As a doctor or a dentist, you’ll undoubtedly encounter a number of opportunities throughout your career to earn income from various revenue streams.
Whether you choose to work on a contract basis, with private patients, or participate on advisory panels, you must be able to track your income and meet your tax liabilities.
It’s also crucial that you set up and operate in the most tax efficient manner in relation to your current situation. This might mean continuing as a self-employed consultant, or incorporating and operating as a medical practice.
Either way, an experienced medical accountant can keep you on the right track.
The Benefits of Working with JSCA
Having worked with a number of medical professionals over the years, we know just how busy and stressful your job can be.
That’s why our team of friendly medical accountants are ready to alleviate some of that stress by handling tasks such as accounting, bookkeeping, and payroll on your behalf.
We have vast experience in preparing accounts for medical practices, and you’ll receive advice regarding VAT, pension planning, personal tax, and wealth management where necessary.
In addition to common accounting issues, we can also deal with the following:
- Claiming reimbursements from the NHS.
- Accounting for income from different sources such as hospital PAYE work, private patients, and participation on advisory panels.
- Partnership arrangements such as income sharing or joint ownership of premises.
- Advising doctors who are technically self-employed but participate in the NHS pension scheme.
And if you’re setting up a practice for the first time, we can advise you on business planning, funding, and succession planning.
We Can Help
With so many years of study and practice that goes into becoming a medical professional, you shouldn’t find yourself sidetracked over tax and financial matters.
Your focus should remain solely on treating your patients.
And JSCA can help you get back to doing just that.
We’ll sit down together – in our offices, or yours – and discuss the challenges you face, and the ways in which we can overcome them.
We’ll then recommend, in plain English, the most tax efficient way forward for you as an individual, or as a practice.
Contact us today to find out how we can help make your life as a medical professional that little bit easier.