by Nick Bonnaud
Our experienced accountants can help you in all areas of tax and financial advice if you are a medical professional, whether you’re a consultant, locum, specialist, or GP.
For many years, our specialist accountants have worked with medical professionals and doctors in healthcare and life sciences.
Our services include everything from tax return preparation, superannuation certificate preparation, and tax returns to compliance. We also offer strategic advice and profit improvement advice.
We understand the challenges that come with your job. We are here to assist you with any financial and accounting challenges that may arise. Our specialist tax accountants for doctors can help you manage your finances so that you have more time for doing the things you enjoy in life.
We provide accounting services for doctors and medical professionals including:
The skilled medical accountants on our team at Quest CMA can provide advice on tax and pension legislation, as well as on NHS pensions.
Our expert tax advisors for doctors and medical professionals can help with tax submissions and calculations, as well as annual declarations and advice on annual and lifetime pension limits.
Our independent financial advisors are available to offer advice and assistance on investment alternatives if you want to look beyond the NHS pension.
It’s a major step when buying a business or joining a partnership. Our expert team will make sure you’re well represented and advised throughout the entire process.
From discussing tax efficiency for your business to performing specialist business valuations, we can help you. We can help you manage all aspects of the process together with our team of specialist financial accountants.
We understand that scientific research is vital in your field as medical professionals. Our experts can offer expert advice regarding Research and Development Tax Credit and how to claim back up 230% of your tax deduction. Go to our R&D Tax Credit Calculator to see how much you might be able to claim back.
Our accountants can help you with everything from tax returns, superannuation advice, and managing your finances. Contact our team for more information.
Doctors need specialist financial advice. Accountants for doctors can help with complex accounting matters. This includes arranging for NHS pensions and income from private practice.
This area is well-served by our experienced accountants. Our financial advisors can provide you with practical advice that will help ensure compliance and tax efficiency.
The NHS requires medical professionals to pay Income Tax and National Insurance via wages paid through the PAYE system. You can claim tax deductibles for work-related expenses that are not covered by NHS.
You can also include travel expenses (for driving to and from the hospital), special equipment (e.g. It can include business mileage (for commuting and attending patients outside the hospital), specialised equipment (i.e.,. Tax relief can also be claimed for professional associations such as GMC and BMA.
To receive reimbursements on expenditures that date back at least 4 years, consult qualified accountants. To verify the claim, you will need receipts or invoices.
Locum doctors can be either self-employed general practitioners or private physicians. You are responsible for all professional expenses, including employees. HMRC permits you to apply for tax relief on allowable expenses.
They include office supplies and specialised equipment. Subscriptions to journals such as the Lancet are also available. Membership fees can be paid for organizations like the GMC or BMA. Tax rebates may also be available for business mileage used in caring for patients at home or other hospitals.
After reviewing all relevant tax regulations and invoices, our specialist medical accountants will make the correct claims.
Call us on 0121 235 0315 to talk to our specialist accountants for doctors in Birmingham for a free ‘no-obligation’ tax review to show you exactly how we can help you pay less tax, keep more money in your pocket and grow your business.
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Call trusted Birmingham accountants Quest on 0121 235 0315 for free tax, business and HMRC advice. Let’s have a chat about how we can help you pay less tax, keep more money in your pocket and grow your business 🙂
If you want to discover how we can help your business, Quest also offers the following services: VAT, Payroll, Business Tax, Tax Services, New Business, Self Assessment, R&D Tax Credits, Tax Deadlines and Annual/Management Accounts.