Consultants

We provide tax and business advice to Consultants that help ease your administrative and financial burden.

We frequently advise on incorporation of private practices, i.e. the pros and cons of trading through a limited company or limited liability partnership. Tax savings that can be available from such structures have increased as a result of the introduction of ‘Tapering’ for pensions Annual Allowances.

Many Consultants have in the past not been troubled by additional tax liabilities resulting from Annual Allowance as they have brought forward unutilised Allowances available to offset; however, their additional income from private practice, which on the face of it looks unconnected with their NHS pensions, can result in extra tax bills of more than £10k. These are the types of complex tax issues we can help you with.

We also recognise the busy lives Consultants lead and will work with you, finding the accounts systems that best suit the way you work, training your private secretary as needed, arranging meetings at times/places to suit you, and providing expert knowledge at our fingertips so we don’t waste your time.

How we can help:

  • Personal tax planning, in particular for Annual Allowance and Lifetime Allowance issues relating to pensions, built on our knowledge of the 1995, 2008 and 2015 schemes
  • Financial (including retirement funding) advice in conjunction with our Francis Clark Financial Planning colleagues
  • Advice on business structures – partnership/limited liability partnership/limited company
  • Choice of accounting systems and training for anyone you want to be able to use or access them
  • Maximising tax relief whilst staying ‘within the rules’
  • Payroll

Other Healthcare Specialisms