GP Practices

Accounts

• We offer an all-inclusive fixed fee for accounts, taxation and general advice with unlimited email and telephone support
• Preparation of the annual accounts on a timely basis
• Meetings at your premises with a Chartered Accountant partner who will discuss the accounts in detail with you
• Appraisal of the practice finance with our ratios and statistical analysis so you can compare your practice performance with others
• Explanations of partner’s capital/current accounts together with advice on working capital requirement
• Drawings projections prepared and discussed with the partners including additional drawings projections throughout the year, to help plan for changes to practice profits
• Advice to partners of their income tax projections prepared in advance of liabilities falling due
• Partners’ superannuation shortfall projections and advice on outstanding superannuation for earlier years if PCSE have not processed certificates
• Reconciliation of salaried GP superannuation payable and advice on liabilities owed to PCSE including earlier year
• Succession planning with advice on new partners joining or the retirement of partners
• Advice for retiring partners including capital gains tax on sale of surgery premises.
• Additional advice given on all aspects of GP finance, including mergers, premises reimbursements, employment status of locums, including IR35 issues, personal medical services, extra income generation, etc.

Superannuation

• Advice on annual estimates of pensionable profits for superannuation deductions
• Completion of Type 1 end of year pension certificates

Taxation

• Completion of partnership tax return
• Completion of partners personal tax returns including advice on personal expenses claims to help reduce tax liabilities
• Calculation of partner’s pension Annual Allowance and Lifetime Value
• Advice of tax charges as a result of exceeding the Annual Allowance or tapered Annual Allowance in a tax year and completion of scheme pay elections forms
• Tax planning advice to help reduce tax liabilities
• Phone calls and emails returned the within 24 to 48 hours, letters within 10 days
• Proactive advice delivered through courses, meetings and emails