GP Practice Accountants

At RMT Accountants, we understand that the medical sector is always changing at a rapid rate and therefore, GPs, doctors and other healthcare professionals, including medical practices, require special advice. That’s where working with a medical accountant comes in.

Since the healthcare sector operates like no other, we have recognised the need for its own distinct set of financial and accountancy services, including specialist support for NHS pensions.

By working with an expert GP accountant from RMT Accountants, you will gain an insight into the financial challenges faced within the healthcare sector but also learn how to best prepare for the future, both professionally and personally. We have experience of working with over 1,500 GPs and over 100 GP practices throughout the UK.

GP Accountants for Healthcare Professionals

As a proud founding member of AISMA, the Association of Independent Specialist Medical Accountants, we fully understand the critical importance of expert financial advice for medical professionals. Our team has many years of experience working with individuals in the medical profession.

We have developed a comprehensive suite of medical accountancy services specifically designed to meet the unique needs of healthcare professionals, ensuring a hassle-free experience for GPs and practice managers alike.

After investing in our team to support and manage our growing medical client base, RMT Accountants are perfectly positioned to offer support to medical professionals. We work in partnership with GPs and practice managers to guide and assist with the growth and development of the modern GP practice.

We work with these individuals in ensuring a smooth transition into new GP partnerships and to support them in using data to help keep primary care practices’ finances healthy.

At RMT Accountants, we also work with salaried GPs, hospital doctors, consultants and locums to support them with their financial matters and working together to support a stronger financial future. Our advice and guidance is carefully tailored to the unique monetary and legislative environments in which healthcare industry workers live. We are here to help you navigate the complexities of your profession so that you can make the most of the opportunities and challenges you encounter – personally, professionally and financially.

Our healthcare accountants can also cover financial matters in accounting for veterinary practices, overall accounting for healthcare professionals or for dentists requiring support from dental accountants.

Working with a GP Accountant

If you require medical accounting services, either as a GP or a practice manager looking for support with surgery mortgages, working with an expert GP accountant, like those on our team at RMT Accountants, is crucial.

Maybe you’re looking to buy a second home, retire earlier than planned or have your trusts and estates, and the relevant inheritance tax planning, sorted by medical accountants. Our medical accountancy professionals include a GP accountant who can advise you on personal tax mitigation and wealth and pension planning.

Or, if you are a practice manager, we can assist you as your practice grows and develops. RMT Accountants can support you with improving practice profitability, surgery mortgages, income tax and income protection, and NHS pensions and superannuation.

By offering financial planning and advice on maximising profitability for a secure future to several clients on both a personal and professional basis, our team of healthcare accountants, including a specialist GP accountant, can support you with all of your medical accountancy needs.

We provide a range of GP accountant services for our clients, including:

GP Practice Accounts

We can prepare your annual accounts in detailed formats incorporating the income streams of both PMS and GMS practices.

Benchmarking Practice Performance

We will undertake an analytical review of the practice results in comparison with the national profile of GPs. Benchmarking your accounts against national statistics can help you gauge the financial performance of your practice and identify possible areas where you can move the practice forward.

Annual Certificates of Pensionable Profits

We can offer advice and prepare the General Medical Practitioner’s annual Certificate of Pensionable Profits.

Partnership Agreements

We will provide advice regarding the inclusion of clauses on profit allocation, incoming and outgoing partners, property, taxation and other medical issues.

Surgery Premises and Partnership Capital

We’re happy to offer advice on property capital and partnership capital charges.

Partnership Disputes

We can offer expert, objective help regarding any difficult areas arising in partnership disputes.

Tax Planning

We offer advice on planning to minimise liabilities, early warning of ‘tax time bombs’ and overlap relief issues for new and retiring partners.

Locum Cover

We can help you answer questions such as ‘what level of cost is appropriate?’, ‘are internal locums acceptable?’ and ‘is ICB Locum reimbursement available?’

Premises

We will work with chartered surveyors to offer advice on the value of buildings. We also have strong links with appropriate bodies where funding may be needed.

Personal Financial Planning

We can look at your needs as a partner in practice and as an individual. We can offer objective advice on everything from income protection and critical illness cover to investment management and inheritance tax planning.

Education and Information

We can attend practice management meetings and will help you keep your finger on the pulse of what is happening in the medical world. We publish all AISMA technical publications (including the annual survey of GPs accounts and local statistics by Strategic Health Authority). We also edit the Medical Practitioners’ Financial Handbook.

IT Consultancy

We offer access to IT consultants through our sister company, RMT Technology. They will ensure that you receive your accounting and business information in the most efficient way possible. For example, if you’re looking to change your accounting system, we can guide you through this process and train you to use the new system. To learn more about our medical focussed IT services please click here.

Get Support From RMT Accountants

At RMT Accountants, we understand the importance of working with a specialist GP accountant who can take full control of supporting you with your finances, whether you are a doctor, practice manager or another healthcare professional.

Our services are designed to support healthcare professionals with their medical accounting and financial matters. If you are wondering how to refinance your medical practice or want to see how pension tax issues for doctors have changed over the years, we can support you with the advice you need.

With specialist services for other individuals working in the medical sector, including tax advice and other financial management from healthcare accountants for dentists from our dental accountants, or through our accounting for veterinary practices and accounting for healthcare professionals offerings, RMT Accountants are proud to support a range of clients in the medical sector.

Contact us online or call us on 0191 256 9500 to see how working with an expert GP accountant can support your doctors or your medical practice.