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Doctors

As members of AISMA (Association of Specialist Medical Accountants) and the UK200 Healthcare Group, Hillier Hopkins LLP acts for medical practices throughout London and the Home Counties.

Our approach is based around understanding your business and proactively identifying areas that will allow you to grow or perform more effectively. From employee benefits and financial planning to the latest GMS Contract updates and superannuation certification, we have the range of expertise you require.

• Preparation of prompt accounts.
• Tax planning advice to minimise liabilities.
• Self-assessment.
• Practice capital and re-financing.
• Pension planning for doctors and staff.
• Partnership changes and agreements.
• Assistance with computerisation.
• PMS contract updates.
• Advising on the nGMS contract and superannuation certification.
• Payroll services.
• Employee benefits.
• Property within partnerships.
• Personal and partnership insurance.

With the advent of the nGMS contract and the new annual certification of superannuation it is important that you receive timely and expert advice from a specialist medical accountant.

You need to consider how you account for all forms of National Health Service income and the superannuation liability in line with your new partnership agreement.

When looking to enhance retirement planning there are a number of options that should be considered: Added Years, AVC’s, FSAVC’s, Stakeholder or Personal pensions, the A9 Concession and Executive Pensions.

It is strongly recommended that financial advice is sought to find which is the most suitable option, especially bearing in mind the forthcoming changes in the pension rules and the earnings cap.

Hitherto, GP’s in the main have been able to ignore Value Added Tax (VAT) as they have qualified for exemption from registration under UK law. However there are some services where exemption is not applicable.

Practice Managers

Under nGMS practice managers may become full partners in the practice alongside general medical practitioners. However, what becomes clear is that there are many pro’s and con’s in making a Practice Manager a Partner and it is strongly advised that both legal and accountancy advice is sought before any decision is made.

The change from employee to self employed means that instead of tax and NIC being paid under the PAYE system being the responsibility of the employer, it becomes the responsibility of the individual.

With regards to pensions, most Practice Managers are members of the NHS scheme, which has certain benefits. The Department of Health has confirmed that non-clinical partners will be included in the NHS Pension Scheme, although the mechanics are as yet unclear.

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The Doctors Team:

Cathy Leach (View profile)
Michael Penn (View profile)