Accounting Services for Doctors
Managing a medical practice or working as a self-employed doctor requires balancing patient care with financial management. From navigating complex tax rules and managing expenses to ensuring compliance with HMRC regulations, having a trusted financial partner is essential.
At Jermyn & Co, we specialise in providing tailored accounting services for doctors, whether you run a private practice, operate within the NHS, or work as a locum. Our expert team ensures your finances are professionally managed, allowing you to focus on delivering exceptional patient care.
Why Jermyn & Co?
Why Choose Jermyn & Co for Medical Accounting?
At Jermyn & Co, we understand the financial complexities faced by medical professionals. Our services help you:
- Stay Compliant – Navigate tax regulations, payroll obligations, and industry requirements with ease.
- Optimise Tax Efficiency – Claim all allowable expenses and reliefs to reduce your liabilities.
- Simplify Financial Management – Streamline bookkeeping, invoicing, and reporting processes.
- Plan for Growth – Develop strategies to expand your practice or invest in new services and equipment.
Whether you’re a GP, specialist, or locum doctor, our tailored services provide the financial clarity and peace of mind you need to succeed. You can trust us to handle your financial management with precision and care.
Accurate Records
Tax Savings
Time Savings
Scalability
Jermyn & Co
Core Accounting Services for Doctors
We offer a full suite of accounting services tailored to meet the specific needs of doctors:
1. Tax Planning and Compliance
Doctors often face complex tax requirements, especially when balancing NHS and private income. We assist with:
- Preparing and filing self-assessment tax returns for self-employed doctors and locums.
- Managing tax for private practice income, ensuring all eligible deductions are included.
- Advising on specific reliefs, such as Annual Allowance Pensions Tax for NHS contributions.
2. Bookkeeping and Expense Tracking
Accurate record-keeping is essential for managing your finances. We help you:
- Track income from private consultations, NHS contracts, and locum work.
- Record expenses such as professional memberships, training, and equipment costs.
- Maintain clear and organised records for tax filings and financial planning.
3. Payroll and Staff Management
If you run a practice and employ staff such as nurses, receptionists, or administrative assistants, we simplify payroll by:
- Calculating wages, National Insurance contributions, and pensions.
- Ensuring compliance with HMRC regulations for PAYE and workplace pensions.
- Structuring staff benefits to attract and retain talent.
4. VAT Registration and Compliance
Medical services are often VAT-exempt, but certain income streams may require VAT registration. We assist with:
- Determining whether VAT registration is necessary based on your practice’s income.
- Managing VAT for any taxable services or supplies.
- Preparing and filing VAT returns in compliance with Making Tax Digital (MTD).
5. Pension Planning and Management
Doctors participating in the NHS pension scheme face specific challenges, including:
- Navigating Annual Allowance and Lifetime Allowance limits.
- Advising on strategies to optimise your pension contributions and tax position.
- Assessing the financial impact of added voluntary contributions (AVCs).
6. Financial Reporting and Practice Analysis
Understanding your financial performance is vital for running a successful practice. We provide:
- Monthly and quarterly financial reports to monitor income, expenses, and profitability.
- Analysis of high-performing services or treatment areas.
- Recommendations for improving efficiency and reducing costs.
7. Strategic Planning for Growth
Looking to expand your practice, invest in new technology, or open additional locations? We offer:
- Long-term planning to adapt to changing patient demands and healthcare trends.
- Budgeting and cash flow forecasting to support growth initiatives.
- Guidance on financing options for new equipment or facilities.
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What our clients say about their experience with us
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Frequently Asked Questions about Doctors and Their Tax
Doctors can claim expenses such as professional memberships, CPD courses, medical equipment, indemnity insurance, and travel for work-related purposes. We ensure all eligible deductions are included.
Medical services are generally VAT-exempt, but additional services or supplies (e.g., training, consultancy) may require VAT registration. We provide guidance on VAT compliance.
Yes, we specialise in navigating Annual Allowance and Lifetime Allowance tax implications for NHS pension scheme participants, providing tailored advice to minimise liabilities.
Our strategic planning services include financial modelling, budgeting, and guidance on financing options to help you expand your practice or invest in new facilities.
Our Accountancy Services
We offer a range of services to help you manage your finances and grow your business.
Why Jermyn & Co?
Why Choose Jermyn & Co for Your Accounts?
At Jermyn & Co, we’re more than just accountants – we’re your partners in success. Our accountancy services are designed to help you:
- Stay Compliant – Ensure your financial records meet HMRC and Companies House requirements.
- Save Time – Let us handle the numbers while you focus on growing your business.
- Improve Efficiency – Streamline processes and reduce errors with expert support.
- Plan for Growth – Use actionable insights to guide your financial decisions and achieve your goals.
With our proactive approach, you’ll gain the confidence and clarity you need to succeed.
Why Jermyn & Co?
Why Choose Jermyn & Co for Business Tax?
Tax legislation in the UK can be complex and ever-changing, but with Jermyn & Co by your side, you’ll have access to expert advice and practical solutions.
Our services include:
- Strategic Tax Planning – Helping your business plan effectively to reduce your overall tax liabilities.
- Corporation Tax Filing – Ensuring accurate and timely submissions to HMRC.
- VAT Compliance – Assisting with VAT registrations, returns, and managing thresholds.
- R&D Tax Credits – Maximising available credits for your innovation and development projects.
- Self-Assessment Support – Tailored assistance for self-employed individuals or partnerships.
With our expertise, you can focus on running your business while we handle the numbers. We’re committed to helping you stay ahead of deadlines and legislation changes.
Corporation Tax Compliance
VAT Services
R&D Tax Credits
Tax Planning and Advisory
Why Jermyn & Co?
Why Choose Jermyn & Co for Personal Tax?
At Jermyn & Co, we understand that everyone’s financial situation is unique. Our personal tax services are designed to help you:
- Optimise Tax Efficiency – Leverage allowances, reliefs, and deductions to minimise your tax liability.
- Ensure Compliance – Stay on top of filing deadlines and HMRC requirements to avoid penalties.
- Plan for the Future – Align your tax strategy with your long-term financial goals.
- Simplify Tax Complexity – Let us handle the details so you can focus on what matters most.
From simple tax returns to complex financial arrangements, we provide expert advice and support tailored to your needs.
Proactive Tax Planning
Expert Guidance
Tailored Solutions
Stress-Free Compliance
Why Jermyn & Co?
Why Choose Jermyn & Co for Corporate Finance?
At Jermyn & Co, we understand that every business is unique. Our experienced team offers a personalised approach to corporate finance, helping you:
- Secure Financing – Access the funding you need for expansion, acquisitions, or working capital.
- Plan for Growth – Develop tailored financial strategies to achieve your business objectives.
- Manage Mergers & Acquisitions – Navigate complex transactions with confidence, from valuations to negotiations.
- Optimise Financial Performance – Streamline processes, reduce costs, and maximise profitability.
Whether you’re a start-up seeking investment or an established business exploring new opportunities, we’ll provide the expert guidance you need to succeed.
Business Valuations
Mergers & Acquisitions (M&A)
Fundraising & Investment
Financial Modelling
& Forecasting
Why Jermyn & Co?
Why Choose Jermyn & Co for HR Services?
At Jermyn & Co, we understand that every business is unique, and so are its HR needs. Our tailored HR services help you:
- Stay Compliant – Meet the latest UK employment laws and regulations with ease.
- Save Time and Resources – Let us handle the admin while you focus on growing your business.
- Engage Your Team – Build a positive, productive workplace with our employee engagement solutions.
- Grow with Confidence – Ensure your HR strategy aligns with your long-term business objectives.
Whether you need ongoing HR support or help with a specific issue, our experienced team is here to assist.
Payroll Management
HR Compliance
Employee Engagement & Retention
Training & Development
Why Jermyn & Co?
We offer tailored accounting services to various sectors through Norfolk & Suffolk.
Jermyn & Co
Who We Support
Our services are tailored to meet the needs of a variety of medical professionals, including:
Locum Doctors – Simplifying tax compliance for self-employed medical professionals.
General Practitioners (GPs) – Managing income from NHS contracts, private patients, and practice partnerships.
Specialists and Consultants – Supporting private practice and mixed-income professionals.
How We Help Doctors Succeed
At Jermyn & Co, we go beyond traditional accounting to deliver strategic advice tailored to the needs of medical professionals. From managing day-to-day financial operations to planning for long-term growth, our proactive approach ensures your practice remains financially robust and future-ready.
Ready to Take Control of Your Finances?
Talk To Us
Schedule a consultation to discuss your accounting needs.
Plan and Implement
We’ll create a customised financial strategy for your medical practice.
Achieve Results
Streamline your finances, stay compliant, and grow your business with expert support.
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