Medical Accountants

Checking up on your finances

It’s never been as crucial for medical professionals to monitor their finances closely. Whether you’re a locum GP, dentist or therapist, your finances are paramount.

While most accounting firms will be able to help you with the basics, it takes an expert to really understand your tax position – as specialist medical accountants, we can do it all.

Our proactive approach and in-depth knowledge of industry-specific challenges allow us to support you while you continue to provide the best care possible.

What we can do for you

We can help you with the broad strokes of your accounting needs – payroll, tax returns and cashflow monitoring all come naturally to us. We don’t stop there, though. 

We understand the complexities of the NHS pension scheme, and we know it’s not always easy for doctors and medical professionals to keep track of their contributions while monitoring the tax implications. Well, let us take care of that for you.

Our job is to ensure you pay exactly the right amount of tax and not a penny more than necessary. To do so, we’ll familiarise ourselves with your practice’s structure, your books and your outgoings. Once we have the whole picture, we can provide reliable advice on keeping your tax bills from piling up. 

What’s more, we can offer you the following services:

  • Preparation of year-end accounts.
  • A detailed report on your practice’s performance, including comparative data, statistical analysis and benchmarking, alongside suggestions for improvement where appropriate.
  • Meeting with practice partners at least once a year to run through the results in more detail and discuss other points of current interest.
  • Projections for the forthcoming accounting year.
  • Advice on restructuring practice finances to make the most efficient use of capital.
  • Ad-hoc telephone advice throughout the year.
  • Provision of personal mortgage reference letters to lenders where partners wish to take out new loans or mortgages.

Providing aftercare

In the medical industry, your work is never done. You’ll constantly face a new set of challenges in your day-to-day work. So even after we’ve helped get everything in order, we’ll be on hand to offer our advice and support whenever you may need it.

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Medical accounting

We offer a partnership level service with fees covering preparation of end-of-year accounts, detailed analysis of your practice’s financial performance and as much ad hoc advice as you need throughout the year.

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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.