• Medical Practitioners

    Specialist medical accountants and advisers, with a thorough knowledge of the healthcare sector

Medical Practitioners

Practical advice from a partner led medical services team

We are a leading provider of accountancy and business advisory services to Medical Practitioners in the UK, with an extensive national portfolio serviced by specialist medical accountants and advisers. BDO acts as a specialist medical accountant and provides business advisory services to a portfolio which includes GPs and practice managers, dentists, consultants, vets, healthcare social enterprises, GP federation and provider companies, CCGs and other health organisations, demonstrating our commitment to this sector.

In addition to the demanding financial climate, medical practitioners and GP practices face many unique challenges. To progress the developments in the commissioning and provider landscape it is imperative that medical practitioners obtain sound commercial advice from specialist advisers who have a thorough knowledge of the healthcare sector.

We focus on the needs of our clients and have developed a range of services to meet those needs. We keep our clients informed and up to date through our programme of healthcare events and workshops and the regular issue of newsletters and bulletins.

Each of our offices has a specialist partner heading up a Medical services team comprising experts from a range of disciplines who have many years' experience of advising healthcare professionals. We keep our Medical specialists abreast of developments in accounting, tax and the field of healthcare through our internal training programme and specialised technical support. As part of our investment in the sector, BDO has developed a benchmarking service specifically for GP practices.

Our specialist medical services team use BDO InTouch to connect medical practice clients with their current practice performance information, which can be accessed anytime and anywhere. BDO InTouch enables medical practices to better manage their financial needs in today’s fast moving environment.

And we have created a specialist medical merger team to advise on the complexities of the merger landscape in the sector - a cross disciplinary group of experts with a deep knowledge of the healthcare sector.

Our services include:

Accounting

  • Efficient, accurate and timely production of annual accounts;
  • Detailed analysis of NHS and non-NHS income and expenditure;
  • Benchmarking with other practices;
  • Income tax and superannuation provisions included in accounts; and
  • Meetings to discuss the accounts and financial issues.

Taxation

  • Preparation of partnership and personal tax returns;
  • Preparation of personal expenses claims;
  • Advice on annual and lifetime allowances;
  • Providing long range forecasts of future tax liabilities;
  • Capital allowances; and
  • Partnership and corporate structures and tax planning and VAT issues.

Pensions and superannuation

  • Preparation of certificates of superannuable profit;
  • Advice on funding through the NHS Superannuation Scheme, Additional Voluntary Contributions and through personal pension schemes;
  • Advice on the provision of pension schemes for staff and the stakeholder scheme;
  • Providing long range forecasts of future superannuation liabilities; and
  • Advice on maximising/minimising superannuable profit.

Other services include:

  • Budgeting and cash flow forecasts
  • Business planning
  • Computer accounting systems
  • HM Revenue & Customs enquiries
  • Payroll services
  • Practice mergers and financing
  • Property and practice structures
  • Retirement and succession planning
  • Surgery developments

BDO's Medical Practitioner Services form part of BDO's wider Business Services and Accounting practice.