GP Practices

At HJE we currently act for over 70 GP practices across Wales and the Border Counties. The medical profession is changing rapidly and we realise that GPs and practice managers require a tailored approach from their professional advisers in order to manage practice finances. Our dedicated healthcare accountants offer specialist advice to GP practices utilising our in-depth knowledge and experience of the sector. Our services include assistance with all aspects of accounting, taxation and financial matters, which we can provide on a “fixed fee” basis.

Our key objective is to support clients throughout the year by using online accounting software and offering regular contact with our key team members. This approach allows us to identify opportunities to maximise profits and also to prepare the Practice Accounts on a timely basis which ensures that our clients are advised of their Personal Income Tax and Superannuation liabilities well in advance of the due date for payment.

We provide a full range of compliance and advisory services which are tailored to individual clients’ requirements:

• Interim and annual accounts preparation, including drawings and cashflow projections.
• Detailed benchmarking of practice results against local and National statistics, using both our internal database and statistics provided by the Association of Independent Specialist Medical Accountants (AISMA).
• Discuss the implications of the changes to the NHS Pension scheme including the impact of tax changes relating to the “Annual and Lifetime Allowance”.
• Advice regarding different business structures, such as limited companies for non NHS income.
• VAT issues, in particular for dispensing practices.
• Practice mergers/succession planning.
• Payroll and Auto enrolment services provided by our specialist payroll department.
• Completion of Superannuation forecasts and Annual Superannuation Certificates – including consideration of different methods to maximise NHS pensions.
• Personal Tax compliance and advisory including Capital Gains Tax and Inheritance Tax planning.
• Maximising claims for tax relief in respect of the construction of GP premises.
• Refinancing of the surgery premises.
• Referrals to specialist medical solicitors, banks and Independent Financial Advisers.
• Tax protection insurance.