Specialist - GP Doctor Practices
The medical profession has been constantly changing over the last 20 years, and faces many complex industry-specific accounting and tax issues. It is now more important than ever to have in place robust systems for managing both your finances and your practice.
At Sowerby FRS we have been helping the medical profession keep up to date with our specialist advice.
The new contract, a copy of which can be viewed by clicking on the links below, yet again materially affects the way that your income is calculated. You need an adviser that understands these changes.
ACCOUNTS
We provide GP's with an efficient, timely and accurate service. Our accounts provide you with a detailed summary of your income and expenditure that are simple to understand.
Our comparisons with national statistics ensure that your systems are working effectively in recording the work you have undertaken and therefore receive the monies due to you.
TAXATION
Due to the complex nature and different sources of income that GP's receive we ensure that your tax affairs are kept up to date.
We will advise you on all aspects of the tax legislation that affect both you personally and your business.
As with all high wealth clients we will assist you in planning your affairs for the future in a tax effective and strategical manner.
SUPERANNUATION
Together with our financial advisers, we can assist you in reviewing your future pension provision and give expert advice on tax effective ways of topping up your entitlements.
With the introduction of the new contract we are also able to calculate and certify the actual amount of superannuable income that each partner should receive for the year.
PARTNERSHIP
When you are in partnership with other individuals, issues can often arise that need independent expertise to resolve. With our vast expertise in the sector we can offer your partnership practical commercial solutions to those issues.
Whether they relate to how the practice is financed, issues surrounding the partnership agreement, how to integrate new partners or payoff retiring partners or any other issues that may arise.
Our proactive advice can help to minimise your tax liability, and maximise your wealth.
For further information please contact Richard Skewis on 01482 389752 or email to richard.skewis@sowerbyfrs.co.uk.
