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Medical accountants in Chester

Outsourcing to a reputable accountant will result in a long term partnership which will benefit your financial and career prospects. Finances for those in the medical profession are complex, with constant changes to legislation. An accountant which specialises in the medical profession will have a solid understanding of the NHS and knowledge of health care reforms. Once you have found the most suitable accountant for your professional affairs, you will be able to contact them for any query and assistance so that you always make the right decisions.

Medical accountants in Chester – making things easy

Someone who is employed in the medical profession and perhaps self-employed too, will face a larger number of tasks than a person who is just self-employed. In addition to having to produce annual accounts for HMRC and complete a self assessment tax return, you will also have to complete a superannuation certificate. An established accountant will also be able to produce benchmarking figures so that you can compare the performance of your practice with others in the UK.

Keeping updated

For anyone who doesn’t outsource to medical accountants in Chester, regular updates are required so that you keep up with all reforms, changes and what they mean to your business. All of this is time consuming, distracting away from your regular working day. Maximise time and money by outsourcing to specialist medical accountants. Chester medical practices often make changes, like partners leaving or retiring, or new partners joining. These can be complex procedures which should be dealt with by a professional who is experienced in the profession.

Although you may work for the NHS, it is common practice to undertake other duties which must all be charged for, like cremation fees, private medical examinations and reports for insurance companies. There are a large number of other services which may be carried out within the practice and should be charged for appropriately, perhaps comparing costs to other practices in the area.

Medical accountants will be able to provide details and help you with this, among other duties. Other implications of carrying out non-NHS duties could affect VAT payments and even rent income if private work carried out on NHS premises is more than 10 per cent of total income. Here at Wainwrights, we strive to make things easier for medical professionals. Call today for more information on how we can help you.