Accountancy for Healthcare
Countless doctors, dentists, opticians, pharmacists, and other healthcare professionals across South Wales trust Bevan Buckland with their personal and business accounts. Whether you’re a GP in practice, a senior consultant freelancer, or a locum covering practices, we can handle your tax returns and provide astute tax planning guidance.
Pension planning, particularly with the tapered allowance in mind, is a significant concern for medical specialists within or associated with the NHS. Our experienced team offers tried-and-tested advice on this and all other aspects of personal tax planning. Contact us to learn how we can support you or your healthcare business.
Accounts for Dentists
Bevan Buckland’s medical accounting team provides specialist taxation services to dental practitioners and their practices across Swansea and South Wales. As members of the Chartergroup Healthcare network, our specialist accountants stay abreast of the latest developments in the dental sector, offering strategic advice on tax-efficient business structures and long-term business planning. We also provide expert advice on pensions, including the unique challenges faced by self-employed dentists contracting through the NHS.
Accountancy Services for Dentists
We can support in managing the financial transactions between a your practice and the NHS, ensuring you are reimbursed for the NHS treatments provided to patients.
NHS pensions and superannuation involves managing contributions to the NHS Pension Scheme, ensuring you receive the appropriate benefits upon retirement.
Together we can with create a strategic plan to help a your practice grow, manage its finances effectively, and achieve long-term success.
This service includes preparing the yearly financial statements, filing tax returns with HMRC, and maintaining accurate financial records for your practice.
Accounts for Opticians
Our specialist accountants and tax advisors offer extensive experience in the optician sector. They provide a client-focused service to ensure all accountancy and taxation requirements are handled smoothly and efficiently.
As members of Chartergroup Healthcare, our team ensures clients stay up to date with the latest sector developments. We also offer complimentary services:
- Email or telephone advice on business-related issues
- Regular email business and tax tips newsletter
- Reminders of key filing dates
Accountancy Services for Opticians
This service involves compiling the yearly financial statements for an your practice, ensuring they meet regulatory standards and provide an accurate summary of the practice’s financial performance.
Preparing and filing tax returns ensures that an optician’s practice complies with HMRC regulations, while also identifying opportunities to minimise tax liabilities.
Financial planning and pensions services help you manage your finances, plan for retirement, and optimise pension contributions to secure future financial wellbeing.
This service assists with the financial and legal aspects of altering the partnership structure within a practice, ensuring a smooth transition and continued compliance with legal requirements
Capital tax planning involves strategies to minimise taxes on the sale or transfer of business assets, helping you retain more of your practice’s value during transactions.
Inheritance tax planning helps opticians structure their estate to reduce the inheritance tax burden on heirs, ensuring that more of their wealth is passed on to the next generation.
Providing expert guidance on VAT issues, including the application of various apportionment methods and handling partial exemptions, to ensure compliance and optimise VAT efficiency.
Payroll services manage the payment of staff at an optician’s practice, ensuring correct tax, National Insurance, and pension contributions are made, while also keeping up with payroll regulations
Accountants for Pharmacists
At Bevan Buckland, our dedicated team of pharmacy accountants provides specialist services to community and locum pharmacists. We assist with all aspects of accountancy and taxation, staying current with Category M changes and ongoing funding negotiations.
As members of Chartergroup Healthcare, our team ensures clients stay up to date with the latest sector developments. We also offer complimentary services:
- Email or telephone advice on business-related issues
- Regular email business and tax tips newsletter
- Reminders of key filing dates
Accountancy Services for Pharmacists
This service involves preparing the yearly financial statements for a pharmacy, ensuring they comply with regulatory standards and accurately reflect the financial health of the business.
These accounts provide pharmacists with regular, detailed financial insights, enabling them to track their business’s performance, manage cash flow, and make informed decisions throughout the year.
Statutory audit services involve an independent review of a pharmacy's financial records to ensure accuracy, transparency, and compliance with legal requirements, which is essential for larger businesses or those legally required to be audited.
Financial forecasting and budgeting help you predict future income and expenses, set financial targets, and manage resources effectively to support business growth.
This service helps pharmacists claim tax relief on qualifying business assets, such as equipment and premises, reducing their tax liability and improving cash flow.
Advising on company structures involves helping you choose the most suitable business format—whether as a sole trader, partnership, or limited company—to maximise tax efficiency and legal protection.
Helping you minimise the tax payable on the sale or transfer of business assets, such as property or shares, by using available reliefs and exemptions.
Proving you with expert guidance on VAT matters, including the preparation and submission of monthly VAT returns, ensuring compliance with VAT regulations and avoiding potential penalties.
Accounts for Doctors
At Bevan Buckland, we understand doctors’ unique financial challenges, whether you are a GP, consultant, or locum. Our tailored services meet the specific needs of medical professionals, ensuring robust financial health.
Accountancy Services for Doctors
This service involves compiling the yearly financial statements for a doctor’s practice, ensuring they meet regulatory standards and accurately reflect the financial status of the business.
Tax returns and planning involve preparing and filing tax returns while developing strategies to minimise a doctor's tax liabilities, ensuring compliance with HMRC and maximising financial efficiency.
This service provides doctors with expert guidance on their NHS pension scheme, helping them understand their contributions, benefits, and retirement options to secure their financial future.
Locum tax and expenses guidance helps locum doctors manage their taxes and claim allowable expenses, ensuring they remain compliant with tax laws while maximising their take-home pay.
Advice on the benefits and implications of incorporating a practice or choosing the most suitable business structure, such as a limited company or partnership, to optimise tax efficiency and legal protection.
Helping you manage finances, plan for retirement, and make informed investment decisions to grow and protect wealth over time.
Payroll services ensure that all staff in a doctor’s practice are paid accurately and on time, with proper deductions for tax and National Insurance, while also handling pension contributions and other payroll-related obligations.
Business Challenges for Healthcare
Professionals in the healthcare sector, such as dentists, doctors, opticians, and pharmacists, face unique business challenges that can be daunting to navigate. We understand your profession’s intricacies, where managing a healthcare practice’s financial and operational aspects is essential for long-term success beyond delivering exceptional patient care. Here are some of the key challenges:
- Regulatory Compliance: Keeping up with constantly changing healthcare regulations, tax laws, and compliance requirements is critical to avoiding penalties and maintaining a successful practice.
- Cost Management: Rising costs of medical supplies, equipment, and staff salaries can strain budgets. Balancing quality care with cost efficiency is a delicate task.
- Cash Flow: Irregular payment cycles from insurance companies can create cash flow challenges. Ensuring a steady flow of revenue while managing expenses is vital.
- Technology Integration: Implementing and maintaining up-to-date technology, such as electronic health records (EHRs) and practice management software, is necessary but can be costly and complex.
- Work-life balance: Healthcare professionals often struggle to balance their demanding work schedules with personal time, leading to burnout and reduced productivity.
Our team understands these challenges and is here to provide the tailored financial guidance you need. You can overcome these challenges and thrive in your practice with our support.
