Tax & Accounting Services for Locum Optom

With Sial Accountants the benefits are clear for all to see

Whether you are a newly qualified optometrist or an experienced locum, at SIAL Healthcare we fully understand your specific needs. Our specialist accountancy and taxation services will be tailored to your individual requirements to make sure you achieve your goals with the minimum of cost, fuss and stress!

SIAL Healthcare also provides tailored accounting services to locum opticians and optometrists, whether newly qualified or experienced. As employed or independent contractors, we provide them with accounts and taxation advice and support; if and when they decide to start their own practice in the future, we help them to make their dream reality.

Why Choose Sial Accountants ?

Final Accounts, Benchmark, and Management Accounts
Tax Planning and Tax Returns Services
VAT Apportionment FCA & SDC and de-minimis
Bookkeeping, Xero, QuickBook, Sage and others
Payroll and Pension Services
Advise on the best way to finance the growth
Advise on equipment purchase, financing arrangements
Advise on buying a practice, due-diligence & valuations
Recommending the best legal structure for your practice

Being a locum has some very specific challenges, so it’s very reassuring to be able to talk to someone who really understands them, and can offer such constructive advice.

Paul J, Locum Optician, London

Locum Accounts

We prepare annual accounts for locum opticians/optometrists, provide drawing projections, cashflow forecasts, budgeting, and bookkeeping services. We offer advice on allowable business expenses.

Incorporation

We advise on self-employed vs. limited company status, handle limited company incorporation, and assist with payroll and corporation tax registration.

Taxation

We prepare personal tax returns for locums, provide advice on allowable expenses and tax planning, handle company corporation tax returns, and ensure compliance with IR35 regulations.

Other Services

We offer advice on practice purchasing, including valuations and financing, asset purchase guidance with financing arrangements, and provide mortgage reference certificates.

What Makes Us Different?

Our expertise for opticians VAT matters makes us exceptional and our founder and managing director is the definitive authority on how to set up a successful practice.

The guide book for opticians, entitled, “How to start and run a successful Optical Practice” was recently published by Usman Sian, and the book has been critically acclaimed by many optometrists, opticians and industrial specialists as an excellent guide for new and existing optical practices.

Answers from Our Locum Optom Accountants

Frequently Asked Questions

Choosing the right accountant is crucial for any business, but for optometry practices, it’s even more critical. Optometrists and opticians often have complex financial needs, including managing revenue from insurance claims, tracking inventory of eyeglass frames and lenses, and monitoring equipment and facility costs. It’s also important to stay up to date with the latest tax regulations and financial reporting requirements that may affect the business. Here are some frequently asked questions to guide you in making an informed decision.

Why do I need an accountant as a locum optometrist?

As a locum optometrist, managing fluctuating income, varying expenses, and complex tax rules can be overwhelming. An accountant ensures that your taxes are handled correctly, all allowable expenses are claimed, and you stay compliant with HMRC while maximising your income.

What expenses can I claim as a locum optometrist?

You can claim a wide range of allowable business expenses, including:

Travel costs between different practices
Equipment and tools essential to your work
Professional fees (GOC registration, insurance)
Training and CPD expenses
Office expenses if you work from home (utilities, internet)
Pension contributions

Our team can help you identify all possible deductions to reduce your tax liabilities.

How can SIAL Accountants help me with my self-assessment tax return?

We specialise in preparing and submitting self-assessment tax returns for locum optometrists. Our team ensures that your income is reported accurately, all allowable expenses are included, and any reliefs or tax savings are applied. This minimises your tax burden and helps you avoid penalties.

Do I need to register for VAT as a locum optometrist?

Locum optometrist services are exempt from VAT and do not require registration with HMRC.

How does SIAL Accountants manage my fluctuating income as a locum optometrist?

We provide tailored advice on how to structure your finances efficiently, even with irregular income streams. We help you budget for tax payments, manage cash flow, and plan for periods of low or no work, ensuring that your finances remain stable year-round.

What are the benefits of using SIAL Accountants for my locum optometrist accounting needs?

By choosing SIAL Accountants, you benefit from:

Industry-specific knowledge tailored to locum optometrists
Personalised support and advice
Stress-free tax return filing
Ongoing tax efficiency strategies
Full compliance with HMRC requirements Our goal is to help you save time, reduce tax liabilities, and ensure your finances are in excellent health.

What are the benefits of using SIAL Accountants for my locum optometrist accounting needs?

By choosing SIAL Accountants, you benefit from:

Industry-specific knowledge tailored to locum optometrists
Personalised support and advice
Stress-free tax return filing
Ongoing tax efficiency strategies
Full compliance with HMRC requirements Our goal is to help you save time, reduce tax liabilities, and ensure your finances are in excellent health.

What should I do if I work both as a locum optometrist and a limited company contractor?

If you operate both as a locum and through a limited company, your tax and accounting obligations become more complex. We can help manage both your self-employment and limited company accounts, ensuring that you meet all your obligations and maximise your tax efficiency.

How do I get started with SIAL Accountants?

Getting started is easy! Simply contact us to schedule a free consultation. We’ll discuss your unique situation and financial needs and outline how we can support you as a locum optometrist.

Can you help me if I’ve fallen behind on my taxes?

Yes! If you’re behind on your tax returns or have received penalties from HMRC, we can help resolve the situation. Our team will work quickly to bring your accounts up to date, file any outstanding returns, and negotiate with HMRC on your behalf if necessary.