“We have the expertise to help you maximise your income and minimise taxation, while helping you improve your overall financial performance”
When it comes to finance, medical practitioners themselves are in need of some specialist care and expertise.
Members of the medical profession have very specific accounting, taxation and superannuation requirements. It therefore takes in-depth accountancy knowledge to help medical practitioners to maximise their income, minimise taxation and take the opportunities available to them to improve their overall financial performance.
Our dedicated Healthcare team provides specialist accountancy services to many GP practices throughout south west Scotland, as well as offering support to locums, consultants, dental surgeries, pharmacies, care homes and other healthcare businesses.
Our Healthcare specialist team is headed up by partners Hazel Murphy and Stephen Bargh, both of whom are recognised experts within this sector. Regularly invited by the NHS to guest lecture at healthcare events across Ayrshire & Arran and Dumfries & Galloway, Hazel and Stephen also lead finance related workshops at Practice Manager conferences and training events.
Key areas of expertise:
- Income streams & annual accounts
- Superannuation & pensions
- Taxation & personal expenses
Additional support for your business:
With excellent relationships with many Practice Managers across the south west, we provide a range of general services to support your business, including:
- Advice on partnership matters, such as Partnership Agreements, changes in partners and succession planning.
- Assistance in raising finance and funding for new partners joining a practice.
- Early warnings of tax and superannuation liability to help you plan your personal cash flow.
- Distribution of a regular newsletter on current financial intelligence relevant to the healthcare sector.
- Training sessions with banks to help them fully understand the healthcare portfolio.
- Completion of self-assessment tax returns and partners’ expense claims.
- Assistance with bookkeeping and payroll, including dedicated training for Practice Managers on the use of Iris GP accounts software.
- Advice on practical issues affecting your GP practice, including seniority clawbacks, recruiting new partners/salaried GPs, practice mergers and locum agreements.
We are the only accountancy firm in Ayrshire, and just one of eight across Scotland, to be a member of the Association of Independent Specialist Medical Accountants (AISMA), a network of accountancy firms across the UK who specialise in working for doctors.