GP Practices

Accounts:

• Annual Accounts Preparation – Preparation of your practice’s annual accounts.
• Accounts Report – Comprehensive report providing supporting information to your annual accounts which is a key management tool to help you manage your practice day-to-day.
• Superannuation – Completion of Annual Certificates of Pensionable Profits and estimates of future liabilities.
• Tax and Superannuation Estimates – Presented with the draft accounts so that practices can plan for future payments.

Tax:

• Personal Taxation – Preparation of personal tax returns, including personal expense claims.
• Partnership Taxation – Preparation of partnership tax returns and expert advice on partnership tax matters.
• Annual Allowance Pension Savings Charges – Management of pension savings and related tax charges.
• Inheritance Tax Planning – Reviews and planning to manage your inheritance tax liabilities.
• VAT Returns & Specialist Advice – Preparation of VAT returns and provision of specialist VAT advice tailored to GP practices.
• PAYE Health Check and Employment Tax Advice: Ensure your payroll operations are fully compliant with PAYE regulations

Financial planning advice:

• Financial planning – tailored financial planning, including pension and investment advice.
• NHS pension expertise – Specialist advice on NHS pensions to help you navigate your options.

Practice management support:

• Bookkeeping assistance – expert advice on systems and best practice, along with support from our Xero-certified team
• Payroll outsourcing – Streamline your payroll processes with our reliable outsourcing service
• Business advice – Strategic advice to help you manage and grow your practice.
• Advice on partnership changes – Support with partnership admissions, retirements, and other changes.
• Cashflow forecasts and budgeting – Accurate forecasting to help you manage practice finances effectively.
• Drawings calculations and partnership funding – Support in determining partner drawings and funding requirements
• Property issues – Advice on surgery premises financing and new builds.
• Practice profile – Detailed financial benchmarking reports, including practice profitability per partner session and per patient.

Seminars to trainee GPs

• Finance training provided to approximately 25 VTS training schemes nationwide on an annual basis
• Finance training provided in conjunction with LMCs on a range of topics including understanding GP practice accounts, income tax position of salaried GPs and GP partners, employment tax matters and financial considerations applicable to new GP partners
• Other topical webinars delivered throughout the year

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