Your Full Guide To Avoid Being A Broke Doctor
Be Worriless When Saving Lives With Our Accountants for Doctors
We understand that money is no issue for you because your core duty lies in saving lives. However, you must also understand that your finances can help or get you in great trouble.
Our chartered accountants have helped several doctors with financial matters such as taxes and company planning.
Our expertise ranges from preparing accounts, tax returns, and superannuation certificates to providing strategic support and profit improvement advice. We also help doctors better understand their financial figures and advise them on how to minimise potential tax liabilities.
We offer a variety of services to GP practices, locums, and hospital consultants across the UK.
We give professional advice that is not only specific to your career but also considers your expected future advancement. With this information, we can develop a wealth strategy to help you meet your financial objectives, safeguard your holdings, and increase your earnings potential.
We are happy to inform you that with Pearl Lemon Accountants, you can get medical accounting guidance and financial planning services to help you retain your high income and secure your financial future.
From medical school to retirement, we provide various services to help you manage your finances and achieve your financial goals, including advice on loans, insurance, superannuation, investments, and the accounting needs of your private practice.
Who knows? Maybe we can also help you build your own foundation.
Interested? Just give us a call.
Why You Need To Hire An Accountant For Doctors
Physicians have unique tax and financial needs and duties. As medical accounting experts, it is our responsibility to recognise these norms and help you strengthen your financial footing to preserve and expand your wealth.
As medical accountants, we are deeply aware of the unique financial challenges you may face during your career. Since we have in-depth knowledge of the healthcare sector, we can plan ahead for your financial future and guarantee your success.
Certified Public Accountants (CPAs), Chartered Accountants (CAANZs, previously known as CAs), and Chartered Tax Advisers (CTAs) that specialise in accounting for doctors will be available to chat with you.
Our consultants have completed the Diploma of Financial Services (FP), the Advanced Diploma of Financial Services (FP), or the Diploma of Financial Planning in addition to their accounting degrees to ensure they are RG146 compliant.
Our specialists are among the top 1% of their field, qualified to offer guidance on any and all tax and accounting matters within and beyond the field of Medicine.
What Medical Accountants Can Do For You That Other Accountants Can't
The BMA says that some doctors’ pay has dropped by 30% in real terms over the past ten years. The problem is probably even worse if you live in an expensive place like London or the southeast.
With the rising cost of medical school, the rising cost of pension contributions, and harsher taxes, it’s clear that doctors of all ages need to be good with money now more than ever.
Taxes for doctors can be hard to understand because of things like the NHS pension, income from private practice, and GP practice accounts, among other things.
Too bad many accountants say they are medical professionals when they are not.
Pearl Lemon Accountants only puts you in touch with independent medical accountants who meet your needs and whose reviews come from doctors like you. Here is where you can book a free first meeting with an accountant from Pearl Lemon Accountants.
What We Have To Offer
Pearl Lemon Accountants have helped doctors at every stage of their careers and can anticipate your needs, whether you’re just starting as a doctor or want to open a practice.
Not only do we help doctors with their accounting and tax returns, but we also:
HMRC Tax Investigations Advice
When you experience tax inspections, you’ll be confused and overwhelmed, so unless you are assured of your situation, get expert assistance as soon as a tax probe begins. We can help if you are experiencing difficulty paying HMRC contributions or need help dealing with HMRC concerns involving VAT, PAYE, self-assessment, or corporation tax concerns. Better still, we can ensure that you are never subjected to an HMRC tax inquiry in the first place.
Personal Tax Services
We provide relevant tax services for all types of tax issues to help you handle your personal tax affairs. The personal and professional lives of company decision-makers are frequently entwined. In that case, we collaborate with you and your family to deliver tax services that address your short-term and long-term goals. Our tax experts will help you manage your money, secure your family’s wealth, and prevent avoidable personal tax obligations.
Sole Trader Services
Working for yourself as a sole trader and a non-limited entity means you are the business. Keeping track of your finances may be challenging and time-consuming for people with little or no accounting experience. In today’s world, your financial books and accounts must be up to date and correct to secure future finances and avoid legal conflict.
R & D Tax Relief Advice
The United Kingdom’s Research and Development (R&D) tax exemption is among the most productive and lucrative in the world. A company’s tax payment can be significantly lowered or repaid by claiming government-backed relief. However, many qualified businesses do not make a claim, either because they are uninformed of the assistance or because it looks too complicated or unsuitable for their organisation.
Here at Pearl Lemon Accountants, we can help you file for that.
Tax Planning Services
Corporate tax policies are complex and constantly changing. Strategic tax planning is essential for lowering your company’s tax liability. Our tax professionals are highly qualified, business-minded, and skilled in lowering tax costs, so you can be confident that you are in excellent hands.
By providing a comprehensive corporate tax compliance service, we can ensure that your company or business is structured to maximise tax efficiency and minimise business tax liabilities.
Click here to see our other offers if you need more services.
Worry Less For Finances, Worry More About Patients
We are proud of how quickly, accurately, and proactively we solve tax problems. Our tax strategies for the medical field are made to help you find your tax risks and make the most of your opportunities while staying in line with taxation rules.
Our professional advisers and accountants care about their clients and have university degrees. They also go through regular professional development, so you can be sure that our advice on taxes and accounting for doctors is good.
We have medical accounting experts on staff and can help you with your finances and taxes throughout your career, from internship to when you go into private practice to when you retire.
We work closely with the tax bureau and other major tax bodies, so when there are new rulings or changes to the law, we know about them immediately.
We can take care of all your financial and tax needs because we offer a full range of financial services. Our experienced and trustworthy advisors will take care of your tax matters so you can focus on your medical practice and what you do best.
Statistics have shown that 51% of accounting firms consider regulatory changes the biggest challenge in their industry.
If they are already having a hard time with those changes, what more if you try to keep up with that?
To avoid that, allow us to help you with everything regarding accountancy, such as income tax, tax advice, payroll services and many more.
Talk to us now to get started.
FAQs
What do accountants for doctors do?
An accountant specifically trained for doctors is a professional who can create, review, and analyse a doctor’s financial records. They can ensure that your finances follow the law and any applicable requirements – and may advise on any initiatives or advantages your practice may be losing out on and the best method to overcome financial issues.
Does my accountant need to be local?
Not at all. We live in the era of cloud-based accounting, and nearly all bookkeeping tasks can be performed digitally. Using your preferences, our system will locate the nearest qualified Medics’ Money accountant nearby.
How much should I pay your accountants for doctors?
Our prices are determined after carefully deciphering your financial needs as a medical practitioner. We give rates based on custom services designed to cater for your specific desires. If you want to learn more about our rates for different services, feel free to book a call HERE.
If you have an effective financial plan, you can reduce your administrative duties so they do not overshadow your customer relationships and ability to work independently. You can use accounting basics to reduce your company's costs, increase your profitability, and minimise your tax liability when you establish this strategy early in your company's lifecycle.
So if you want to build up your business's account, you need an accountant by your side.
We can be that accountant for you. Contact Pearl Lemon Accountants today!