From a financial point of view, the medical profession is probably the most complex of all the professions. The growth of private medical plans and hospital trusts and the constant changes to the NHS structure mean doctors need expert and timely advice in financial matters.
Through years of service to the medical profession we have accumulated a wealth of experience in dealing with issues such as:
- new GMS and PMS budgets
- Accounting for income from different sources such as hospital appointments, private patients, and participation on advisory panels
- Partnership arrangements such as income sharing, partnership changes or joint ownership of premises
- Advising doctors on superannuation matters, including NHS pension scheme annual calculations and declarations
- Provision of comprehensive advice and integrated calculations for partnership drawings, lump-sum equalisations and, where applicable, tax reserve transfers
- Personal practice expenses issues and calculations
- The cost-rent scheme and other property matters
A meeting, at least annually, at partner level is an integral part of our service.