Click here to
Get an instant quote

Doctors’ accountants in Liverpool

Doctors in the UK face an increasing number of complex issues as the National Health Service continues to change. Primary Care Trusts will be replaced by Clinical Commissioning Groups made up of groups of General Practitioners. These changes will mean changes to legislation, including taxation. GPs and other members of the medical profession will benefit by outsourcing to specialist doctors’ accountants. Liverpool GPs will face a number of changes as the CCG was introduced from April 2013.

Doctors’ accountants in Liverpool – saving money

However, the changes will also present a number of opportunities for GPs, which will be maximised by the help of specialist doctors’ accountants in Liverpool. The expenses, allowances and tax reliefs which can be claimed by doctors also vary frequently, with eligibility criteria changing on a regular basis. Seeking information and making calls to HM Revenue & Customs all takes time, which is precious to members of the medical profession. Outsourcing to a specialist accountant in the medical profession will save time and money, as profits are maximised.

When partnership changes occur, this is another period of uncertainty, especially financially. However, the expertise of an accountant with many years’ experience will ensure that the whole process runs smoothly, from raising capital to how a partner joining the practice or retiring will affect the financial situation.

Many doctors perform duties outside of their paid employment, giving seminars, leading lectures or maybe even undertaking private medical work in their field of expertise. An established medical accountant will be able to provide advice regarding the formation of a Limited Liability Partnership or a specialist company.

Avoiding costly mistakes

Outsourcing to professional doctors’ accountants in Liverpool will ensure that your self assessment tax return is completed and submitted in a timely manner, along with statutory accounts if required. Expenses, allowances and tax reliefs may only be claimed if you fulfil the eligibility criteria, which is constantly changing. An accountant will always be aware of what can be claimed to minimise your tax bill. Accountants who aren’t experts in medical accountancy may make mistakes which may be costly to you.

There are so many issues to be aware of when dealing with the preparation of a doctor’s self assessment tax return and accounts that only an experienced accountant can guarantee to produce totally accurate documents.

Here at Wainwrights, we can offer a monthly package which will suit your requirements and make budgeting for accountancy services much easier. Give us a call today to see how we can help you.