Accounting Services for Psychologists
As a psychologist, managing your practice’s finances alongside patient care can be challenging. From navigating self-employment taxes to tracking expenses and planning for growth, having professional accounting support is essential. At Jermyn & Co, we specialise in providing tailored accounting services for psychologists, helping you simplify your financial processes, optimise tax efficiency, and focus on your patients.
Whether you work as an independent practitioner, within a group practice, or offer online therapy, our expert team ensures your finances are managed with precision and care.
Why Jermyn & Co?
Why Choose Jermyn & Co for Psychologist Tax Services?
At Jermyn & Co, we understand the unique financial needs of psychologists and therapists. Our services help you:
- Ensure Compliance – Navigate self-employment tax rules and HMRC regulations with confidence.
- Optimise Tax Efficiency – Claim all allowable deductions to minimise your liabilities.
- Simplify Financial Management – Streamline invoicing, expense tracking, and financial reporting.
- Plan for Growth – Develop strategies to expand your practice or invest in new services.
With our tailored approach, you can focus on providing quality mental health care while we manage the financial complexities.
Accurate Records
Tax Savings
Time Savings
Scalability
Jermyn & Co
Core Accounting Services for Psychologists
We offer a comprehensive range of services designed to meet the specific needs of psychologists and therapy professionals:
1. Bookkeeping and Expense Management
Keeping accurate financial records is crucial for managing your practice. We assist with:
- Tracking income from client sessions, group therapy, and workshops.
- Recording expenses such as office rent, therapy tools, and continuing education courses.
- Organising receipts and invoices for tax filings and financial planning.
2. Tax Planning and Self-Assessment
Psychologists often face complex tax requirements. We provide:
- Preparation and filing of self-assessment tax returns for independent practitioners.
- Advice on deductible expenses, including professional memberships, training, and supervision costs.
- Strategic tax planning to reduce liabilities and improve cash flow.
3. Payroll and Staff Management
If you employ staff or work with administrative assistants, we simplify payroll by:
- Calculating wages, National Insurance contributions, and pensions.
- Ensuring compliance with HMRC regulations for PAYE.
- Structuring staff benefits to attract and retain talented employees.
4. VAT Registration and Compliance
If your practice offers workshops, training, or other VAT-applicable services, we help you:
- Determine whether VAT registration is necessary based on your income.
- Handle VAT filings in compliance with Making Tax Digital (MTD).
- Provide guidance on VAT exemptions for therapy services.
5. Financial Reporting and Practice Analysis
Understanding your practice’s financial health is vital for long-term success. We provide:
- Regular financial reports to monitor revenue, expenses, and profitability.
- Analysis of income streams to identify high-performing services or client groups.
- Recommendations for improving efficiency and reducing costs.
6. Strategic Planning for Growth
Looking to expand your practice, offer new services, or invest in additional training? We provide:
- Long-term planning to align your practice with evolving client needs.
- Budgeting and cash flow forecasting to support growth initiatives.
- Guidance on financing options for expanding your practice or upgrading facilities.
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What our clients say about their experience with us
Jermyn & Co
Frequently Asked Questions about Tax for Psychologists
You can claim expenses such as office rent, therapy tools, professional supervision fees, CPD courses, and travel for client sessions. We ensure all eligible deductions are included.
Yes, we manage payroll for practice staff, including therapists, receptionists, and administrative assistants, ensuring compliance with employment laws and tax regulations.
Our strategic planning services include financial modelling, cash flow forecasting, and advice on expanding services or investing in new facilities.
Therapy services are generally exempt from VAT, but other services such as training or workshops may require registration. We’ll guide you through compliance requirements.
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 a variety of psychology and therapy professionals, including:
Specialist Therapists – Professionals providing niche services such as child psychology, trauma therapy, or corporate consulting.
Independent Practitioners – Psychologists offering private therapy sessions or counselling.
Group Practices – Teams of therapists sharing office space and operational costs.
How We Help Psychologists Succeed
At Jermyn & Co, we provide more than just accounting services – we offer strategic insights and support to help psychologists manage their finances effectively and grow their practices. From handling day-to-day financial operations to planning for future expansion, our proactive approach ensures your practice is financially robust and future-ready.
Ready to Optimise Your Practice’s Financial Health?
Talk To Us
Schedule a consultation to discuss your accounting needs.
Plan and Implement
We’ll create a customised financial strategy for your practice.
Achieve Results
Streamline your finances, stay compliant, and grow your business with expert support.
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