Sarah Moss
Partner
Medical Practitioners
Creating sustainable primary care focused on patients
We believe in the building of sustainable primary care. This basic idea is at the heart of everything we do for our medical professional clients from locums and consultants to GPs and GP practices to Federations and Primary Care Networks.
The proposals set out in the NHS Long Term Plan will mean a period of enormous change for the primary care sector. Change brings challenges but also opportunity. We will help you navigate the ups and downs so you can deliver the best, most sustainable primary care services possible – keeping patients at the centre of all you do.
Our team of specialist medical accountants will work closely with you to ensure they understand your personal goals as well as your accounts, tax and pension positions and the changing funding within the NHS. You will have a passionate team partnering with you to create sustainable working practices, keep ahead of legislation and maximise profits.
We implement digital accounting solutions to ensure our clients have real time accurate information on which to base their business decisions.
The team produces regular practical updates on key changes to legislation and rules. The updates are written by subject matter experts and are a good way to ensure you keep up with best practice.
We are a leading provider of accountancy and business advisory services to Medical Professionals in the UK, with an extensive national portfolio serviced by specialist medical accountants and advisers. Our medical practitioner clients include GPs, GP practices, Locums, Salaried GPs, Consultants, Federations and private healthcare providers.
GPs and GP Practices
Our work with GP partners includes helping them plan their personal finances and tax liabilities and realise their personal plans as well as providing the ideas, insights and advice that will contribute to the success of their practice.
We understand the key and challenging role that Practice Managers play. Practice managers have a huge range of responsibilities and have to keep abreast and respond to all the latest changes. We take a proactive approach to providing them with the information and knowledge they need.
Accounting and financial management:
- Efficient, accurate and timely production of accounts
- Detailed analysis of NHS and non-NHS income and expenditure
- Benchmarking reports and interpretation to support profit maximisation and sustainability
- Meetings to discuss the accounts and strategy of the practice
- Drawings plans
- Digital accounting software implementation, training and support
- BDO Open Exeter App for automated transfer of data from Open Exeter to digital accounting systems
- Outsourcing – bookkeeping, preparation and monitoring of budgets, cash flow, VAT returns, payroll
- Partnership changes including partner buy in and buy outs and funding options
- Working capital requirements
- Calculation of GP average earnings for website publication
- Succession planning
- Cash flow and budgeting
- Registrar and new partner financial training workshops.
Efficient management of tax and superannuation:
- Preparation of partnership and personal tax returns
- Preparation of personal expenses claims and advice on what can be claimed
- Tax planning ideas
- Advice on pensions annual allowance and lifetime allowances
- Providing long range forecasts of future tax and superannuation liabilities
- Preparation of Estimates of Superannuable Profit forms and year end certificates
- Superannuation tier rate planning
- VAT health checks, ensuring you are Making Tax Digital compliant and annual adjustment support
- Retirement planning
- Capital allowance reviews
- Inheritance tax and Capital Gains Tax planning
- Partnership and corporate structures advice
- HMRC enquiries
Other services include:
- Practice mergers and Primary Care Network support
- Tendering & bid support
- Business planning & strategy workshops
- Property: developments, ownership structures, reimbursement, funding & tax implications
- Financial training on a range of topics for both GPs and practice managers
- Review of Partnership Agreements.
Locums
Working with us means having a named specialist Medical Accountant dedicated to understanding your personal affairs and aspirations. They will build a strong relationship with you and support you in achieving your goals. This approach is what allows us to provide both quick turnaround of your income and expenditure accounts and tax returns and help you chart a financially successful transition to becoming a GP partner, if that’s what you want.
Our range of services includes:
- Preparation of accounts and tax returns
- Advice on what expenses you can claim
- Support with Locum A and B form requirements
- Tax and national insurance advice and planning
- Digital record keeping advice, implementation, training and support
- Tax planning ideas
- Advice on pensions annual allowance and lifetime allowances
- Inheritance tax and Capital Gains Tax planning
- HMRC enquiries
- Advice on becoming a GP partner including review of practice accounts
- Financial training workshops if you decide to become a GP partner.
Salaried GPs
Our team of Medical Accountants also work with Salaried GPs. As with our other clients, you will get to work with a dedicated member of our team who will take the time to understand you and your goals. Their role is to help you with your immediate accounting and tax affairs, such as Type 2 Superannuation Certificates, and to help you plan for the future.
Our range of services includes:
- Preparation of accounts and tax returns where required
- Advice on what expenses you can claim
- Preparation of Type 2 Superannuation Certificates
- Tax and national insurance advice and planning
- Tax planning ideas
- Advice on pensions annual allowance and lifetime allowances
- Inheritance tax and Capital Gains Tax planning
- HMRC enquiries
- Advice on becoming a GP partner including review of practice accounts
- Financial training workshops if you decide to become a GP partner.
Consultants
Consultants usually have quite complex income, tax and pension arrangements to manage as multiple sources of income and various allowances interact. You can choose to work with one of our specialist Medical Accountants who provide tailored advice and ideas to ensure you are complying with tax and other regulations as efficiently as possible.
Our range of services includes:
- Preparation of accounts and tax returns
- Advice on what expenses you can claim
- Employer compliance essentials
- Tax and national insurance advice and planning
- Digital record keeping advice, implementation, training and support
- Structure advice
- Tax planning ideas
- Advice on pensions annual allowance and lifetime allowances
- Inheritance tax and Capital Gains Tax planning
- HMRC enquiries.
Federations & private healthcare providers
We dedicate a team of Specialist Medical Accountants to Federations and private healthcare providers. The team will help you create the best structure possible for tax purposes and for obtaining Employing Authority status. The team will also ensure you meet all your statutory compliance requirements, such as those for Community Interest Companies (CICs).
Our range of services includes:
- Preparation of statutory accounts for Companies House filing
- Preparation of Corporation tax returns for HMRC filing
- Company secretarial support
- Registered Office provision
- Directors’ tax returns for HMRC filing
- Employer compliance and planning essentials
- Outsourcing – bookkeeping, preparation and monitoring of budgets, cash flow, VAT returns, payroll
- Tax planning
- Digital record keeping advice, implementation, training and support
- HMRC enquiries
- Tendering and bid support
- Structure advice.
