Healthcare accountants
Accounting services for GPs and medical practices
Running a successful general medical practice is demanding and requires expert advice from healthcare accountants who understand the unique financial aspects of the healthcare sector.
Coveney Nicholls acts for over 40 GP practices throughout London and the South East, and as members of AISMA—an association of independent specialist medical accountants—are well placed to add value to your practice. Moreover, Sue Beaton is a Board Member of AISMA and is well placed to be at the forefront of developments affecting GP practices, hospital doctors, and other medical professionals.
Our fees for annual compliance services are fixed and agreed in advance with the partnership. This annual cost also includes ad hoc telephone advice and is designed to encourage a regular dialogue between us, helping to alleviate financial pressures faced by GP partners and salaried GPs alike.
At partnership level, our specialist healthcare team’s fees cover many aspects of GP finances such as:
- Preparation of year-end accounts and tax returns that comply with government legislation.
- Detailed review of the practice’s results and preparation of a comprehensive report. This report includes comparative data, statistical analysis, benchmarking against other GP federations or primary care networks, and suggestions for improvement where appropriate.
- Annual meetings with the partners to discuss the results in detail, NHS pension scheme updates, and other points of current interest, including changes in the healthcare sector.
- Calculation of drawings projections for the forthcoming accounting year to assist with straight forward financial planning.
- Expert advice on restructuring practice finances to make the most efficient use of capital, taking into account superannuation certificates, annual allowance, and lifetime allowance considerations.
- Ad hoc telephone advice throughout the year to address specific accounting queries.
- Provision of personal mortgage reference letters to lenders where partners wish to take out new loans or mortgages.
Why choose us?
As true specialists in medical accountancy, we understand the complexities faced by doctors, consultants, hospital consultants, and other healthcare professionals. Whether you are managing NHS pensions, retirement planning, or tax planning, our medical accountants provide tailored support to help you navigate your financial landscape with confidence.
Let us take care of your accounts while you focus on your patients and personal goals.
Related services
Superannuation
Making sense of GP pension contributions and offering measured advice on NHS pension schemes and retirement planning.
Tax
Tax planning, tax forecasting and tax return management ensuring you and your practice see the maximum benefit from your hard work.
International
If you operate internationally, or are a medical practitioner based overseas but paying tax in the UK, we can help manage your tax situation.
Let’s talk today
Our tax experts will be happy to have an exploratory conversation, free of charge, so that you can discover for yourself what make Coveney Nicholls the intelligent choice for businesses and individuals in need of tax advice.
