A specialised tax and accounting service for doctors and other medical professionals
Are you a medical professional looking for an experienced medical accountant? Whether you’re a full-time GP, a locum, or a consultant in the medical sector, dealing with tax and accounting can be overwhelming. We can provide you with clear and simple, practical advice to ensure you are making wise financial decisions.
Here at Nichols & Co, our specialist accountants have been advising medical professionals for over 25 years. Since we’re experts in the industry, we know all the ins and outs of every niche in the medical sector and can always provide you with reliable advice that is easily understood thanks to our friendly and informed staff. Here are some of the services we offer:
Individuals:
- NHS pension review
- Income tax returns
- Early year expense claims
- Tax planning
- Tax enquiry protection
For businesses:
- Performance benchmarking
- Accounting and corporation tax
- Partnerships and mergers
- Company formation
Our personal approach and in-depth understanding of the medical sector means that you can leave all aspects of tax and accountancy compliance to us. We know how busy Doctors and other medical professionals can be, so we work hard to ensure that you can focus on what you’re good, safe in the knowledge that the numbers are taken care of.
For more information about our specialised medical accounting service and how we can help medical professionals, get in touch today or visit nicholsmedical.co.uk
Proud members of AISMA, the association of independent specialist medical accountants
The Association of Independent Specialist Medical Accountants (AISMA) is a nationwide network of more than seventy-five firms that specialises in advising medical practices, sessional GPs, and hospital doctors on financial matters. We have been a part of this association for many years and have helped a large number of medical professionals across the UK with their financial needs.
Verified and handpicked by Medics Money
Established by two doctors to meet the unique needs of their fellow medical professionals seeking vetted and carefully selected financial advisors, Medics Money is a specialised platform for the medical business.
What our clients say
“They show a high level of integrity and I value that”
Khalid Ismail, General Practitioner of over 30 years and Senior Partner of South Lewisham Group Practice in South East London explains why he values the most from working with our Nichols & Co team and how we support their medical practice.
Looking for an answer to a question?
Frequently Asked Questions
We understand that you might have lots of questions when looking for an accountant. For this reason, we have compiled a list of frequently asked questions for you, which we hope will be helpful. However, if you have any further questions, please contact us.
Many doctors and other medical professionals finish their medical training with little to no specialised financial knowledge of the medical industry. Having an accountant is not absolutely crucial, but due to the complexity of the industry, it can often be advantageous to hire a specialist accountant to manage your personal tax or medical accounts.
The majority of those working in healthcare have joined the NHS pension scheme. Members of this defined benefit scheme will benefit from the support of specialist advisors who are experts on the topic. Many of our clients rely on us for guidance in this complicated area. We believe NHS members should be seeking regular advice and keeping track of their pension status to make sure it is correctly calculated, and all available options are explored.
Here are some examples of expense claims for self-employed medical and healthcare professionals which are allowed to be claimed against tax:
· Use of home
· Products for resale
· Business premises including business rates, rent, electricity and gas
· Travel to/from ‘temporary’ place of work
· Office expenses including stationery, postage, computing consumables, telephone and mobile expenses
· Marketing expenses including advertising, brochures, business cards
· Staff costs, including salary & wages, employer’s National Insurance, clothing which is clearly branded for business, health and safety clothing
· Professional fees
Not sure what you need?
Message our team today and we’ll take care of the rest for you
Contact us
Ready to get in touch with us and see how our team of accounting and business advisory specialists can help you? Complete our quick and easy contact form and we will contact you to discuss your requirements.
Meet the team
We are incredibly proud of our team here at Nichols & Co, with some of the best chartered accountants, accounting trainees, payroll specialists, auditors and tax advisors in Greater London. Check out our team below.
