Those working in the healthcare sector, either employed, trading in a personal capacity or as a partner in a practice are a specialised profession. We have therefore established a pool of healthcare accountants expertise, to focus on delivering our services.
Such professionals tend to, particularly, be interested in a specific mix of our services:
- Preparation of annual practice accounts,
- Advice on VAT partial exemption status (including under the de minimis thresholds).
- Completion and submission to HMRC of business tax returns, including implications of “the red book“,
- Completing and submitting personal (self assessment) tax returns,
- Before submitting these tax returns to HMRC, taking out tax investigation insurance to mitigate the potential extra professional fees that would arise if HMRC open a tax enquiry into one of your tax returns. Key risk areas for such an enquiry in this sector:
- WIP valuation,
- Structure and profit extraction policy,
- Provision accounting.
- Examining LLP status and other forms of litigation protection,
- Cost rent schemes,
- Wealth management pensions advice.
- Benchmarking your turnover,
- Company pre year end planning.
- How most tax efficiently to own the practice premises,
- Valuing your business,
- Business exit planning, perhaps enabling you to retire early.
- Tax planning.
Healthcare is a sector with unique accountancy requirements. As specialist healthcare accountants, instruct us to act for you, and rest assured that we will understand your finances and look after your best interests.
Our Tax Group “A Brief Guide to…” publications:
- Annual Investment Allowance | Individual Savings Accounts | Making Tax Digital | Off-payroll Working | Pension Death Benefits | Personal Tax Account | Research & Development Tax Relief | Tax Year End Planning
Get in touch with your local office and speak to one of our specialist healthcare accountants to see how we can add value to your business.
We offer a free initial consultation to potential new clients.