Medical Accounts For Consultant Doctors

Consultants

We provide expert accounting, tax, and financial planning services tailored to Specialists, combining deep insight into your profession with unmatched experience in medical finance.
Consultants

Financial Experts for Specialists​

As dedicated financial advisors, we collaborate closely with specialists to deliver tailored solutions for their unique accounting and financial requirements.

Our team can:
  • Advise on the most tax-efficient legal structure suited to your situation
  • Prepare and file your tax returns accurately
  • Assist with pension and investment strategies
  • Provide comprehensive accounting and taxation services

We offer a broad range of accounting and financial planning services designed specifically for specialists.

Services include:

Ongoing annual support

  • Tax return preparation
  • Management of private income accounts
  • National Insurance review and deferral advice
  • Unlimited telephone support throughout the year

To give you certainty and assist with future planning, we offer fixed fees for our ongoing services. Pricing depends on your professional needs and existing bookkeeping setup.

One-off services

  • VAT strategy and planning
  • Income verification support
  • Inheritance tax advice
  • Budgeting and cash flow management
  • Capital Gains Tax planning

Fees for one-off services are based on time spent and can be charged hourly or as a fixed project fee.

Book Your Free Consultation

Speak directly with one of our specialists. Once we understand your situation, we’ll outline how we work and give you a clear, fixed-fee quote. You decide if we’re the right fit. We can chat over the phone or meet in person. If you choose to join us, switching from your current accountant is quick and hassle-free.

Why Choose Us

  1. We focus entirely on healthcare understanding NHS finance inside and out.
  2. Your needs are unique, and our tailored advice delivers clear, practical solutions.
  3. Work with one of the most experienced medical accountancy teams in England.
  4. We handle the switch seamlessly, so there’s no extra effort on your part.

Upcoming Events & Workshops

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Running your own business has many perks. One key benefit is deducting allowable business expenses from your profits, which helps lower your overall tax liability. It’s important to fully understand the rules around claiming these expenses.
Simply put, a cost is eligible for tax relief if it is incurred solely for business purposes. If a cost serves multiple purposes—such as partly personal use—a deduction is allowed only for the portion that relates entirely to the business activity.

Vehicle expenses can be claimed when a car is used exclusively for business purposes. Costs must be allocated so that only those incurred entirely for business use are allowable. Our experts can help you calculate the proportion of travel related to work, which can then be applied to your annual vehicle costs.

Examples of claimable expenses include:

  • Fuel and lubricants
  • Maintenance and repairs
  • Insurance premiums
  • Vehicle tax
  • Breakdown cover subscriptions
  • Parking fees
  • Cleaning and detailing
  • Finance interest charges
There are many other expenses that may be eligible for claims. We provide all our GP clients with a clear, comprehensive checklist along with ongoing support to ensure you maximise all allowable deductions.

You’re likely aware of your membership in the NHS Pension Scheme, but do you fully understand the benefits it will provide upon retirement?

Retirement planning is often delayed until it becomes urgent. We recognise this is partly due to its complexity—terms, calculations, and benefit options can be confusing when planning independently.

Our experts can help you navigate this process, ensuring clarity at every step. For tailored financial advice, our partner company Blackett Walker Ltd offers Independent Financial Advisers authorised and regulated by the Financial Conduct Authority (FCA) to assist you in making well-informed decisions.

The UK NHS Pensions Agency provides limited information focused mainly on benefits paid directly through the NHS. However, this doesn’t cover the broader picture, as many GPs make extra pension contributions via ‘Added Years’, Additional Voluntary Contributions (AVCs), or external Free Standing arrangements. Others may contribute to Personal Pension schemes or Self-Invested Personal Pensions (SIPPs).

Pensions can be complicated, but with the right advice, they don’t have to be. We can help you define your pension goals and assess your current and future income needs.

Many consultants receive income from both NHS work and private practice.

Both income streams are subject to National Insurance Contributions (NICs). However, there is an annual cap on the total NICs an individual must pay.

We can help you apply for deferral or exemption of NICs on private practice earnings if you have already reached the maximum contribution through NHS income. This deferral is often overlooked by accountants without specialist knowledge, causing unnecessary extra payments.

How can we assist?

We begin by reviewing the NICs you are paying. If you have overpaid in previous years, we can help recover those amounts.

Understanding which legal structure suits your business is essential for effective trading.

Generally, there are four main options:

  • Sole trader
  • Partnership
  • Limited liability partnership
  • Limited company

Choosing the right structure can help you:

  • Share income with a spouse or civil partner
  • Lower income tax rates from 50% to 40% or 20%
  • Reduce national insurance payments
  • Protect earnings within a company taxed at 20% or 40% rather than 50%

However, as a consultant, your options may be limited by your specific circumstances. Our expertise allows us to tailor the best possible approach within those constraints.

The introduction of the Tax Health Plan brings important considerations for you.

Protection against the rising frequency and expense of tax investigations is crucial. We offer a service designed to shield consultants from the potentially high costs of such enquiries. Beyond additional tax payments, professional fees for handling disputes with HM Revenue & Customs can be significant. We strongly recommend all our consultant clients use our Tax Assurance Service, which covers these professional fees during any tax investigation.

With an annual subscription, the scheme allows us to manage the process on your behalf, eliminating the risk of unexpected fees or charges.