d Medical Healthcare | Strathmore Accountants

Medical / Healthcare

The medical / healthcare sector is amongst the most complex from an accounting and tax point of view and we have a wealth of experience in this area, particularly acting for GP practices.

Medical / Healthcare

GP practices and other healthcare organisations have very specific requirements and we have a strong all round understanding of these.

We can help with your statutory submissions including:

Preparation of annual GP accounts (and regular management accounts if required)

Preparation of Superannuation certificates and ensuring the correct amounts are deducted on a monthly basis

Partnership, company and individual tax returns and related issues

Accounting for tax due on Annual Allowance charges

VAT partial exemption calculations for dispensing practices

We can offer added value with services including:

Analytical review and reporting on your accounts

Advising on appropriate profit-sharing ratios and suggesting suitable drawings figures

Providing analysis of key areas of your accounts

Business planning and cash flow forecasting

Advising on maximising claims for capital allowances on building projects

We have experience of and can advise on many pertinent issues to GPs including partnership changes, property issues, profit sharing and drawings, income and expense claims, as well as advice and training on maintaining a competent accounting system.

As a small firm we take pride in being able to provide one main point of contact for each of our GP clients. This individual will look after all the practice’s requirements rather than you being passed between different departments for accounts, tax, pensions etc as at many larger firms.

The world of Healthcare is ever changing and we keep you and ourselves up to date with the latest developments via ongoing CPD and our membership of the ICAEW Healthcare faculty to ensure that you are compliant and vital deadlines are met.