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Our Services > Specialist Services to Medical Professionals >
Consultants
At Honey Barrett we are experienced in looking after the tax affairs of consultants and as specialist medical accountants we are here to help you.
What can we do for you?
- Fast turnaround of accounts and tax returns
- Warning of liabilities due
- Review of National Insurance position
- Tax planning
- Advice on record keeping
Fast turnaround of accounts and tax returns
We can agree a turnaround schedule – so that you know when to expect to receive your accounts and tax return. As well as meeting your statutory obligations this will help us advise you of your tax liabilities well in advance, so you know exactly what to pay and when.
Review of National Insurance position
Because consultants usually have both an employment and a self employment there is a high chance of National Insurance contributions being overpaid. Let us check this for you. We can defer the payments so that overpayments do not occur.
Tax planning
No-one wants to pay more tax than they need – but you want to be sure that you are working within the law.
We can look at your personal tax situation and advise you of options to minimise tax – particularly for higher earners where from 2011 there will be an extra charge to tax on pension contributions made – both your own and the employer contribution.
Record keeping
On a day to day basis, you need a system in place to record information required as quickly and easily as possible. We can provide you with a system that will suit your needs, whether it’s a simple folder to collate everything or a sophisticated computerized system.
We can work with information from your specialist software like Practice Manager. We can aslo provide training in either manual or computer accounting systems – or we can do it all for you – it is your choice.
An initial free consultation to discuss your needs is the best place to start but as a guide our fees (exclusive of VAT) start from:
- £250 – for an employee with only minimal other income.
- £525 - for a simple income and expenditure account and tax return (turnover probably <£50,000 p.a.).
- £900 - for full accounts and tax return.
All fees include unlimited general telephone advice.
We can work with you solely by e-mail and telephone – so you don’t even have to meet up with us if you are too busy. You can meet us ‘out of hours’ if you wish.
Our specialist team for Consultants is:
How else can we help you?
- Retirement and Estate planning - capital gains and inheritance tax planning (for you and your family).
- Financial services – we can refer you to an experienced IFA who understands doctors.
- Payroll services – use our payroll bureau if you employ a secretary or practice manager.
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