General Practitioner
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Are you a General Practitioner and not a full time NHS consultants who are assessed under the Schedule E employee rules and a DSS / IR agreement HC(78)39 in respect of expenses?
We can provide cost effective service to you and can assist you in the followings:
- Setting up a limited company (tax saving where there is significant non-NHS income)
- Dealing with private fees
- NHS superannuation scheme
- Profit Sharing Agreement
- Partnership Tax Return
- Pension contributions
- Stakeholders contributions
- Endowment policies
- Inheritance Tax
Accounts for the Practice should always be drawn up to identify the business achievement of the Practice and the division of profit / drawings / capital balances of the Partners. It is important to keep proper accounting records such as:
- Supporting schedules of NHS fees, reimbursements, and other income
- An analysed cash book of Practice Expenses (or computer equivalent)
- Documentation in support of expenses, including photocopies of invoices where the originals have been submitted for grants
- Reconciliation of the cash book balance with the bank statements
- Petty cash records (if any)
- Details of amounts owed to the Practice at the year end (including schedules of fees received later)
- Details of amounts owed by the Practice at the year end.
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