After all those years of studying hard, long hours training on the job, and evenings burning the midnight oil before exams, most medics move on to become high earners and naturally attract a higher tax burden than usual. After a few years practising in their chosen field, many medics also seek to set up in private practice, either on their own or alongside their NHS contracts.
Specialist medical accountants Afford Bond, have been working with the UK medical community for over a decade now, advising and supporting doctors from all specialities, especially those who have set up in private practice as well as those who work for someone else. You will probably find that undertaking private consulting work – whilst rewarding both financially and professionally – will bring with it a complicated tax burden but which can be mitigated with the appropriate accounting advice.
Typically, we help consultants, GP’s, scientists, dentists, physiotherapists and locum doctors working for the NHS or doctors who have set up their own private practice. Our specialist medical accountants service includes but is not limited to: – private practice accounts and tax returns – maintenance of accounting records – tax efficiencies – partnerships – superannuation and NHS Pension schemes – auto-enrolment – IHT tax planning and wealth management – VAT advice – succession planning If you would like more information on our specialist medical accounting services, please contact Jonathan.Curwen@affordbond.com or use the Contact form here on our website.