Accountants for Doctors in Hayle

It depends on your circumstances. A doctor with only salaried NHS income taxed through PAYE may have no filing obligation at all. However, once you have private practice fees, locum income, consultancy earnings, medico-legal work, rental income or significant investment income, you will usually need to file a Self Assessment return — and that is where an accountant tends to earn their keep. Beyond compliance, good advice can help you claim the professional expenses you are entitled to, understand how your different income sources interact, and plan for tax that is not deducted at source.

Locum work typically means several payers, irregular income and travel between sites, which makes record keeping particularly important. We would look at how you are engaged — whether you invoice through an agency, work via an umbrella company or operate through your own limited company — because this affects how you are taxed and what you must file. We would also review expenses such as travel to temporary workplaces, medical indemnity, professional subscriptions and equipment, bearing in mind that the rules depend on whether you are employed or self-employed.

Commonly considered expenses include medical indemnity insurance, GMC and royal college or professional body subscriptions, specialist equipment and textbooks, and certain training and study costs. Travel and mileage may also be claimable in specific circumstances. The key point is that the rules differ depending on whether an expense is incurred in employed or self-employed work, and whether it is wholly and exclusively for the purpose of that work. We review your individual situation rather than applying a generic list.

NHS salary is normally taxed through PAYE, with tax deducted before you are paid. Private practice fees, locum payments and consultancy income are often paid gross, which means the tax is settled later through Self Assessment. That timing difference catches people out, so it is worth estimating your liability during the year and putting money aside. If your private income is significant, we may also discuss whether operating through a limited company or another structure is appropriate — though that is a decision specific to your circumstances.

NHS Pension Scheme membership affects your taxable income and can raise questions around the annual allowance, particularly for higher earners or those with additional private pension contributions. These areas can be technical and depend on your individual pension records, so we look at your position alongside your overall tax picture and discuss what information is needed. We do not provide regulated financial advice, but we can make sure your tax reporting reflects your pension position accurately and flag when specialist pension advice may be worth seeking.

For doctors operating through a limited company, we typically prepare annual accounts, Corporation Tax computations and confirmation statements, and can handle payroll for directors and staff, bookkeeping, VAT registration and returns where applicable, and management accounts if you want a clearer view of performance. We can also advise on salary and dividend strategy and on whether the company structure continues to suit your work. The right combination depends on your turnover, how you take money out of the company and your wider financial plans.

VAT registration depends on your taxable turnover and the nature of your services. Many medical services are exempt, but not all activities carried out by doctors fall into that category, and the position can differ between NHS work, private clinical services and non-clinical activities such as medico-legal reporting or consultancy. It is worth reviewing if your private income is growing, or if you are unsure whether your services are exempt. We can look at your specific activities and advise on registration and reporting obligations.

Yes. Much of the work involved in preparing returns, annual accounts and payroll can be handled remotely, with documents shared securely and questions dealt with by phone, email or video call. Many doctors prefer this because it fits around clinical rotas and on-call commitments. If you would rather meet in person, that can be arranged — just let us know what suits you when you get in touch.

Changing accountants is usually more straightforward than people expect. Once you decide to move, we contact your existing accountant to request professional clearance and the information needed to take over your records, including prior year returns and accounts. You do not need to manage that conversation yourself. From there, we review your position, confirm what needs to be filed and when, and set out how we will work together going forward.

Get in touch and tell us a little about how you work — your employment status, your income sources and anything currently worrying you, such as an outstanding return or a change in your working arrangements. We will arrange an initial conversation, review your position, and then explain what support would be appropriate and what information we would need from you. There is no obligation to proceed after that first discussion.