Healthcare

Providing clients with a trusted team of dynamic advisors with years of experience working alongside healthcare professionals and business owners, covering all corners of the industry.

Our support in areas like financial strategy, compliance, VAT, funding and NHS pensions, among many others, helps healthcare professionals to concentrate on what they do best – achieving better health outcomes and building brighter futures for patients and service users.

Our specialists based in Cardiff, Maidstone, Northampton, Nottingham and Preston are members of the Association of Independent Specialist Medical Accountants (AISMA) meaning we are at the forefront of driving positive outcomes for the sector, working with leading bodies lobbying for policy change and impacting government legislation.

Primary Care Networks (PCN)

Our team provide a tailored service for PCNs. We review and advise on the financial aspects of your PCN agreement and your PCN structure. Additional services include:

• Tailored cloud accounting book-keeping software to manage the PCN funding.
• Preparing an annual statement of the transactions to enable the correct figures to be allocated into the member practice partnership accounts.
• Providing personal tax and pension advice in respect of the role of the PCN Clinical Director, including assessment of the different ways the role can be paid for. 
• Advice on the VAT implications of transactions across the PCN including the use of the cost sharing exemption.
• Advice in respect of staff employed by the PCN or hosted by a PCN member on their eligibility for access to the NHS pension scheme. 
• Liaison with specialist healthcare solicitors who can prepare and update the PCN agreements and manage the restructuring that might be needed with respect to Federation involvement or PCN companies. 

GP Practices

For GP practices, in addition to regular management and year-end accounting, we offer:

• Tax compliance and planning  
• Advice on alternative business structures  
• Specialist capital allowance claims for surgeries 
• Assistance with pension certificates
• NHS pension reports and projections for annual allowance and lifetime allowance and retirement planning 
• Planning of partner drawings and cash flow management 
• Succession planning, partnership changes and property ownership 
• Software selection and training 
• Detailed benchmarking of performance against regional and national averages taken from the AISMA annual survey
• Assistance with VAT matters for dispensing practices including partial exemption
• Payroll bureau services

Individual GPs and hospital consultants

As well as acting for the practice, we can also provide guidance to individual GPs in relation to tax planning and wealth management. 

If you are a locum or salaried GP, a hospital consultant or doctor, we can assist with your very specific accounting needs including annual accounting and tax returns, NHS pension returns as well as:

• Retrospective tax claims of professional and examination fees
• NHS pension reports and projections
• Alternative business structures including limited companies
• Advice on tax deductible expenses and requirements around business record-keeping

NHS Pensions

For some members, the  NHS Pension Scheme will be one of their most valuable assets.

Our experienced medical accountants supported by our Independent Financial Planning advisors can help you make sense of your personal situation and advise you on what to do to safeguard and maximise your financial future. 

We can help with: 

• Checking the accuracy of your membership history and details of your annual pension savings statement
• Establishing your current position and assessing your exposure to a pension tax charge
• Reviewing any Lifetime Allowance protections to ensure they are still valid and advising on current protections and how to apply for them
• Predicting the Lifetime Allowance at your planned date of retirement
• Forecasting the Annual Allowance for each tax year and as part of a long-term planning strategy
• Planning for retirement (incorporating predicting the optimum time to take 24-hour retirement)
• Full financial review with a specialist medical Independent Financial Advisor
• Alternative options to the NHS Pension Scheme if appropriate

We work closely with dentists, pharmacists and care home owners providing accountancy and tax advice, as well as:

• Cash flow planning
• Business structure reviews
• Personal, partnership and corporation tax returns, and partial exemption VAT calculations
• Specialist capital allowance claims for existing and new-build premises
• Raising finance
• VAT advice
• Payroll services 
• Mergers and acquisitions  
• Independent financial planning and wealth management 
• Pensions planning including annual NHS pension reconciliation reports and projections for Annual Allowance and Lifetime Allowance planning