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”.
- 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.
HJE is the trading name of Huw J Edmund Limited, a company registered in England and Wales (Reg. no. 03706595). The company is regulated for a range of investment business by the Institute of Chartered Accountants in England and Wales. A list of the directors is available from its registered office