Accounting and Tax Fees

Accounting and Tax Fees for Medical and Healthcare Practitioners

We offer a first year discount for newly qualified practitioners. This is for those who have just completed their training or are starting a practice for the first time.

Our services are for sole practitioners, locum, associate and contracting medical and healthcare professionals.

We particularly welcome newly qualified practitioners and offer lots of guidance through the important early days of setting up the business correctly.

Limited Companies

Our monthly fees for Limited Companies are shown on the right of this page. There is a 25% first year discount on these fees for newly qualified practitioners, so the standard rate in the first year is just £60.00 + VAT per month for accounting and tax services, if you start with us soon after the beginning of the company's accounting year.

Self Employed

If you choose to be Self Employed, as a Sole Trader, the accounting and tax regulations are much simpler and our fees are much cheaper at £30 + VAT per month (£20 + VAT with first year discount) for accounting and tax services, if you start with us soon after the beginning of the Income Tax year (6th April) in which your business starts. Fees may vary if your income is more complex, eg. investments and property letting

Bookkeeping

Please note that bookkeeping requirements vary significantly for different people. We therefore charge a fixed rated of £10.00 + VAT per hour for all bookkeeping and training.

Self Employment Fees

We will prepare your accounts and tax return, and file your Self Assessment with HMRC.

Our standard fees for the preparation of Self Employed/Sole Trader Accounts and Tax Filing are from £360 + VAT, payable monthly - up to the month of June following an April tax year end. First year discount is available.

We offer a free spreadsheet for bookkeeping, however we find that most people require bookkeeping training for the first two or three months.

We offer a block 5 hour training arrangement for £50.00 + VAT, which includes email and telephone training, and also includes reviewing the records which you have kept and making the necessary adjustments.

For basic transactions, eg. your fee invoices and expense claims, the additional bookkeeping training is unlikely to be necessary after the first few months.

For UK Tax purposes a Sole Trader is classified as Self-Employed, and files accounts and tax returns by Self Assessment, paying Income Tax on the business profits, and usually also Class 2 National Insurance and Class 4 National Insurance.

Limited Company Fees

Limited Companies have additional accounting and tax regulations, which take more time, and is why the accounting and tax service fees are higher than for Self Employed people.

Our standard fees are on the right of this web page.

We can form a Limited Company for you, free of charge, and complete the registrations with Companies House and HMRC. This is subject to the condition of an annual contract to include Accounts & Tax filing, PAYE and Self Assessment, and the first instalment being paid in advance.

We will also supply you with our free spreadsheet to record your fees and expenses, which produces a Profit & Loss Account and Trial Balance and a running estimate of Corporation Tax payable.

During the year we will process your salary and dividend payments, and at the Year End we will file your company accounts and tax, and your personal Self Assessment.

Bookkeeping & Bookkeeping Support - Limited Companies

We offer a free spreadsheet for bookkeeping, however we find that most people require bookkeeping training in the first year for limited companies.

The monthly plan includes bookkeeping support (but not training). Typically we find that clients are able to keep good records, but will need training in the first year.

We strongly recommend the bookkeeping training - we offer a block 5 hour training arrangement for £50.00 + VAT, which includes email and telephone training,

For basic transactions, eg. your fee invoices and expense claims, the additional bookkeeping service is unlikely to be necessary after the first year.

If we do all the bookkeeping for you, it will be on the HMRC and ICAEW approved QuickBooks software, and we will supply you with the reports which you need.

If you would like to keep your own records on the popular online software, eg. QuickBooks Online or FreeAgent, we can set this up for you and invoice you directly.