Starting private practice
Don’t let piles of paperwork spoil your achievements – let us take care of it for you.
For many doctors the launch of your own private practice can be the fulfillment of a lifelong dream. However, branching out into self-employment after being taxed under PAYE for so long can also be a nasty shock to the system.
Over the years we have helped hundreds of medical professionals set up their new practices, and there are very few problems we haven’t already come across many times before. As a client of David Ridley Associates any sense of foreboding should soon disappear, along with a lot of the extra administration!
The Revenue’s recent attacks on the NHS pension scheme may have affected your Annual Allowance Pension Savings Statements, Fixed Protection and the pension Lifetime Allowance. We believe we are one of very few accountancy firms who truly understand these impacts and are therefore ideally placed to help you with any issues resulting from them.
Managing your own practice incorporates a host of legal requirements. We can assist you every step of the way, including:
- Notifying Inland Revenue of your self-employment. Getting on the wrong side of H M Revenue & Customs from the start isn’t the best idea!
- Helping you and your staff get to grips with any new systems that might be used to keep track of your accounts and finances.
- Setting up PAYE schemes for your administration staff, to ensure all their tax deductions are correct and legal.
- Advising about VAT registration.
The accumulation of experience we’ve built up from working with Consultants means we can also advise on acceptable fees and charges for your services.
We are always happy to offer a fixed annual fee quote to all our clients.
To see how we could help with any particular accountancy issues you’re facing in setting up a private practice please give us a call on 01202 606970, or email us at office@hilldean.com.