Hospital Consultants

Consultants working in secondary care are usually employees and will be required to complete a Personal Tax Return if they have multiple employments, investment income or untaxed Private fee income. At HJE our healthcare accountants offer specialist advice to Consultants utilising their in-depth knowledge and experience in the sector. Our services includes assistance with all aspects of accounting, taxation and financial matters, which we can provide on a “fixed fee” basis:

• Preparation of Private Practice accounts, including bookkeeping services.
• Advice regarding the VAT implications of undertaking Medico Legal work.
• How to accurately record income and expenses to ensure that you comply with HMRC regulations and also maximise claims for tax relief in respect of business expenses incurred.
• Advising of the most tax efficient way to provide your services i.e. whether personally, via a limited company, Partnership or Limited Liability Partnership. In view of “Waiting List initiatives” we are now seeing a number of consultants working together to provide these services and we can advise of the most appropriate structure.
• Tax Return preparation and advising of the most tax efficient year end.
• the NHS pension scheme:
  • explain your entitlement to benefits under the NHS pension scheme.
  • advice regarding limits on contributions that are eligible for tax relief i.e. the “Annual and Lifetime allowance”.

Other Services

• Referral to specialist medical Independent Financial Advisers for investment, income protection and locum insurance advice.
• Inheritance Tax and Capital Gains Tax planning.
• Payroll and Auto enrolment services.
• Tax protection insurance.