We aim to stay in touch with our clients, communicate fast and efficiently
We will liase with HM Revenue and Customs on all your taxation needs and queries.
We will aim to offer a personal service with a dedicated accountant on a 1 to 1 basis
We will advise you on how and when to pay taxes
We will advise you on how to save taxes and legitimate safe strategies to employ
As experienced and qualified accountants we can provide an efficient service to help Doctors prepare their Tax returns and Year end Accounts if they trade through a Limited company as well.
Changes on the horizon
Doctors, Surgeons and Senior Management are now self employed, and many also have businesses outside of the NHS, this complicates their financial records when submitting separate tax returns and can potentially have implications on their pensions.
Preparing an inaccurate tax return can be headache and lead you to overpaying taxes.
Sole trader Vs Limited
This is one of the key points to consider when being self employed. The route to take depends on a number of factors and needs to be discussed with your accountant. Individual circumstances need to be understood. This is something which Associates and Locums need to consider carefully as well.
Associates also need to consider what their long term goals are. We have often come across associates who with some financial helps have gone on to own their practices or become the principals as well. Being an associate is often seen as flexible and excising career line too with variety and choice of hours too based on what role you apply for.
Experienced in the Medical secetor
AGA Accountants serves numerous Doctors and GPs through the home countries. We have years of exerience in servicing the needs of medical doctors. We can advise on the best structure for managing your tax affairs efficiently. We offer a weekends and evenings service to match the flexible working patterns of doctors and therefore are free to telephone calls outside of traditional office hours.
Make sure you are using the optimal company structure with our Specialized taxation services to protect your income
Without the right kind of accounting advice, Locum doctors can lose up to 55 percent of their income from taxes, pensions and contributions to national insurance.
We find that many locums who come to us for tax advice and support in unnecessary national insurance contributions pay 40 percent of their income in tax along with £ 1500 each year.
Should your profits be taxed at 20 per cent rather than 40%?
Could you save by dividing your earnings with your spouse or civil partner?
Do you use deferrals to increase your National Insurance payments?
Do you use the right business structure for the way you operate?
Your business should be structured in such a way that these outgoings are best reduced.
Do you spend too much in the premiums to National Insurance?
We receive substantial refunds on an annual basis for many of our locum doctor clients. If you don’t use the right tax codes you’ll likely end up paying too much tax.
Do you have the right tax codes?
One of the big reasons why locum GPs pay too much tax is because they are using the wrong codes.
AGA Accountants will give you the best advice on how to structure your business (Sole Trader, Partnership, Limited Liability Partnership, Limited Company) for your particular circumstances.
The Self assessment regieme is strict and requires accurate and timely compliance. This is likely to become more rigorous in future years as HMRC is considering introducing a quarterly upload system where taxes will be accounted for on a quarterly basis!