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.
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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
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.