Specialist Accountant Services For Doctors
Our Background in Medical Practice
Percy Gore & Co act for medical practices throughout the South East of England and is a member of the Specialist Medical Accounting Services (SMAS) Group, a national network of accountancy firms providing specialist financial, accountancy and taxation advice to individuals, professionals and businesses in the medical sector. Our aim is to provide a first class financial, accountancy and advisory service for your practice, whether GMS or PMS. The dramatic revisions in the way the NHS is run now mean that you need top management skills and up to the minute knowledge to address ongoing changes. With our extensive experience in this sector we can offer you a personalised service to guide you through.
What's On Offer
GMS and PMS Contracts present numerous opportunities to increase profitability and we specialise in maximising the income of GPs.
Accountancy - Keeping You Ahead
Our tailored software package will enable you to track income and expenditure together with statistical information to help you keep day to day control of your accounts. The package will also provide facilities to enable you to target income and expenditure and compare budgets with actual data.
We electronically file Income Tax Returns with HMRC and ensure that each GP claims the maximum in personal expenses and other tax deductible items to achieve those tax savings that may be available. We also advise on tax planning issues.
Practice Management - Facing Challenges
There are many complex issues for doctors to consider and we are ready to advise and assist objectively and where appropriate ensure you go forward effectively into new areas. General practice must now be run on the same lines as all other businesses. You should budget for both income and expenditure and our dedicated software package will enable you to track and compare on a monthly, or on a three monthly, basis how your practice is performing. This budget of income and expenditure should be a rolling budget month on month so that there is always a twelve month budget available for review and inspection. With very little additional effort cashflow budgets can be produced in order that GPs may maximise their drawings. We also have the ability to provide training and support to practice managers in this area.
Superannuation and Pension Planning
SMAS have developed an extensive Excel spreadsheet in order to complete the pension form that needs to be submitted to the PCT by the end of February in each year. There are a number of complex issues that arise from this new calculation of a GP’s superannuation, which can provide planning opportunities.
Dealing with as many practices as we do, we are familiar with all the possible effects of partnership changes and we are happy to guide our client practices through these changes at every stage. This may involve raising capital for the practice, or financing and refinancing surgeries generally.
The Department of Health increasingly wants practices to operate at greater scale, to provide additional services and to be available for more hours per week. This will be difficult for many practices and the most appropriate way forward will be through collaborative working. This may involve joint ventures, provider companies, forming federations or merging practices. However you choose to meet the challenges of the future we have experience in all these areas to assist you.
We offer a pro-active service. Why not draw upon our experience and expertise to enhance your practice, taking on board the opportunities available to ensure a flourishing future.
Require more information?
If you would like more information or would like to speak to us direct then call us on 01843 220567. Or if you would prefer, ask us a question online.