Medical Profession
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.
We are members of A.I.S.M.A. the Association of Independent Specialist Medical Accountants; members have to prove they act for at least 15 GP practices to be members. As an association, AISMA now act for about 25% of GP practices in the UK
Although we are based in Eastbourne, we act for doctors all over the country.
Through years of service to the medical profession we have accumulated a wealth of experience in dealing with issues such as:
- Claiming reimbursements from the NHS
- Offering the ability to reduce tax in a variety of ways
- Accounting for income from different sources such as hospital PAYE work, private patients, and participation on advisory panels
- Partnership arrangements such as income sharing or joint ownership of premises
- Advising doctors who are technically self-employed but participate in the NHS pension scheme
- Advising consultants about the use of other tax efficient structures such as Limited companies for private clients to work alongside their NHS Contracts
We also have a specialist team who advise Hospital Consultants
For Doctors who offer their services as locums, we have a super tax effective way of these doctors being able to reduce their effective tax cost to below 20% - without using a limited company
Call Michael Ogilvie now (01323-720555) for details