The Sandison Lang team has a wealth of experience in all aspects of accountancy for the medical profession and can offer doctors, dentists and medical practices a full service solution.
Using a chartered accountant with experience of working with medical clients could be crucial to the success of your business. Keeping up-to-date with complex tax legislation and government changes is a daunting task for a doctor or dentist whose time is better spent helping patients and generating income. Your accountant will therefore prove to be an invaluable point of advice, not only for essentials such as taxation, payroll, record-keeping and timely account preparation but also for business budgeting and financial reports.
Tax planning and compliance
Expert medical accountants will ensure you can maximise your allowances, reduce your tax liabilities and that you and your business remain tax compliant. If starting a new medical practice, Sandison Lang will outline the different types of trading structure which might be relevant to your new business whether that is as a sole trader or a limited company.
We can advise on the full range of personal, partnership, trust and corporate tax compliance matters, including income tax, National Insurance, corporation tax, capital allowances, stamp duty, capital gains tax and inheritance tax.
For most businesses, payroll processing can be a challenging task – one which can go awry all too easily. There is an exhaustive list of detail to consider but our dedicated team can offer a hassle-free payroll service giving you complete peace of mind and the freedom to concentrate on your own skill areas.
We can relieve you of the pressure of calculating PAYE, overtime pay, holiday pay, sick pay, maternity pay and all the other variables that arise.
Managing your final year accounts is an important part of the business, but a time- consuming and daunting undertaking. Our professional team will ensure your accounts are not only prepared correctly and to time, but also adhere to regulations governing medical practices and practitioners.
Our specialist accountants have first-rate, up-to-date knowledge of the complex finances of medical professionals, who often have a mix of employment and self- employment which can impact National Insurance contributions. There is also constant change within the NHS funding system, the NHS pension scheme can be complicated and there are industry-specific expenses which can be set against tax.
We can recommend suitable independent financial advisers should you need to discuss any other financial concerns. You may be considering a mortgage, making a will or planning how to protect your estate. They can help to identify the products that will enable you to achieve your goals.