Tax & Accounting Services for Locum Doctors

For specialist Locum Doctor accounting services, Sial Healthcare is on standby to help whenever needed.

Like you, we need to be ready to hit the ground running when called upon, so at SIAL Healthcare, we continually update our knowledge of the distinctive accounting requirements of locum doctors.

We appreciate how daunting the whole process of preparing self-assessment tax returns, accounts and record keeping can be, so we provide you with the best guidance and support to fulfil all the statutory requirements.

Having Sial keep all my books in order saves me so much stress, and means that the end of year accounts are just a formality. Happy to recommend them 100%

 

K.W., Optician, Ealing

Locum Accounts

Preparation of associates’ annual accounts, annual drawing projections for associates, cashflow forecasts, budgeting and bookkeeping services, and advice on allowable business expenses.

Incorporation

Advice on self-employed versus limited company status, setting up a limited company, and registration for payroll and corporation tax.

Taxation

Preparation of your personal tax returns, advice on tax allowable expenses and tax planning, preparation of company corporation tax returns, and advice on IR35 regulations.

Other Services

Advice on purchasing a practice, including valuations and financing, advice on asset purchase, including financing arrangements, and mortgage reference certificates.

What Makes Us Different?

Aside from our detailed understanding of the healthcare sector, we’re geared to helping you succeed. We’ll encourage you to set targets, track your performance and continually improve.

All our clients benefit from personalised, tailored solutions, because everyone’s circumstances are different. Only once we know yours can we formulate the most cost-efficient approach, and create a package that suits you. And help you to transition smoothly from your existing advisor.

Why Choose Sial Accountants?

    • Prepartion of Accounts
    • Setting Targets, Tracking Performance, Benchmarking and Financial Analytics
    • VAT, Corporate and Personal Tax
    • Budgeting, Forecasting and Cashflow Planning
    • Bookkeeping Services
    • Payroll and National Insurance
    • Compliance Issues
    • Organisational Structure, including Partnerships and Limited Company Set-Up
    • Acquisition and Exit Strategies
accounting services for locum optom
Answers from Our Medical Accountants

 

Frequently Asked Questions

 

Choosing the right accountant for your medical practice is crucial. The financial landscape of healthcare is intricate, with its own set of challenges and regulations. Here are some frequently asked questions to guide you in making an informed decision.

Why do locum doctors need specialised accountants?
Healthcare professionals, including locum doctors, face unique tax and regulatory challenges. Specialised accountants understand the nuances of medical income, relevant tax reliefs, and allowable expenses, ensuring locum doctors optimize their earnings while staying compliant.
What are the main tax considerations for locum doctors in the UK?

Locum doctors need to consider income tax, National Insurance contributions, and possible VAT obligations. How they work—whether as a sole trader, under a limited company, or as an employee—impacts these taxes. Choosing the best structure can help minimise tax liability while ensuring compliance with HMRC.

How can locum doctors reduce their tax liability?
Locum doctors can reduce tax liability by carefully claiming allowable expenses, using tax-efficient structures, and contributing to pensions. Working with an experienced accountant ensures they maximise deductions and benefits specific to the healthcare sector.
What expenses can locum doctors claim on their taxes?

Locum doctors can typically claim expenses for professional indemnity insurance, travel between workplaces, medical equipment, professional subscriptions (like GMC fees), and even home office costs if working from home. An accountant can help ensure all relevant deductions are accurately claimed.

What are the benefits of hiring an accountant for locum doctors?

Accountants help locum doctors navigate complex tax laws, maximise deductions, and manage compliance efficiently. They provide financial insights, assist with tax planning, and offer peace of mind, so doctors can focus more on their work and less on finances.