Specialist Accountants for the Medical Industry

The annual allowance limits the amount that can be contributed to pensions with tax relief each year. For high-earning NHS clinicians, the tapered annual allowance (reducing from £60,000 to as low as £10,000 for those earning over £260,000) can trigger unexpected tax charges. The McCloud remedy and 2015 scheme transition have also created retrospective impacts. We calculate your pension input amounts, identify any annual allowance charge, and advise on scheme pays elections to settle charges from pension benefits rather than cash. See tax return services.

Most locum doctors benefit from operating through a limited company once income exceeds around £50,000. A limited company allows tax-efficient profit extraction via salary and dividends, and you can make employer pension contributions to reduce corporation tax. However, IR35 must be carefully managed — NHS trusts and agencies may determine you are inside IR35 for some roles. We analyse your specific assignments and advise on the optimal structure for your situation. Learn about company formation.

Medical professionals can claim: GMC/GDC registration fees, medical indemnity insurance (MPS/MDU/MDDUS), royal college subscriptions, CPD and training courses, professional journals, stethoscopes and medical equipment, home office costs, travel to temporary workplaces, and exam fees. For private practice, additional expenses include consulting room rental, secretarial and billing services, and practice software. We ensure you claim every allowable medical-specific expense. View sole trader accounting.

GP practice accounts are highly specialised. They must comply with the GMS/PMS contract requirements, include superannuation (NHS Pension) calculations on practitioner drawings, account for notional rent and premises reimbursements, allocate profits between partners according to the partnership deed, and submit Form 306A and PCSE annual returns. QOF income, enhanced services, and seniority payments all need specific treatment. We prepare full GP practice accounts that satisfy both HMRC and NHS requirements. Explore annual accounts services.

Most dental associates are self-employed for tax purposes, operating under a contract for services with the practice owner. HMRC generally accepts dental associates as self-employed where they control their working hours, provide their own equipment, bear financial risk, and pay a percentage of earnings to the practice. However, HMRC does scrutinise these arrangements, so proper contracts are essential. We help dental associates structure their affairs correctly and claim all allowable expenses including lab fees, equipment, CPD, and indemnity. See partnership tax return services.

Yes. Medical equipment qualifies for capital allowances. The Annual Investment Allowance (AIA) currently provides 100% first-year relief on qualifying plant and machinery up to £1 million. Full expensing also provides unlimited 100% first-year relief on qualifying main pool assets. Qualifying medical equipment includes: diagnostic machines (ultrasound, ECG), treatment devices, dental chairs, surgical instruments, medical IT systems, and practice furniture. We ensure you maximise capital allowance claims. Learn about corporation tax returns.