Accounting for Veterinary Practices

At RMT Accountants, we understand that veterinary practices operate under tight deadlines and often have little to no time to handle the amount of paperwork that is part of being a vet. Like other medical professionals, vets, including veterinary surgeons, deal with immense amounts of pressure in their daily role.

Expert Vet Accountants

Being a vet can be very stressful. Working with expert vet accountants is crucial.

Vets manage immense pressure daily. To ensure the future of your practice, you need professional support that goes beyond animal care and addresses:

• The stress of administrative procedures.
• Staying current with complex tax and financial regulation changes.
• Critical financial needs like tax planning, auditing, and payroll services.

Aside from taking care of animals, you may be looking for guidance on how to refinance your medical practice or for support with accounting solutions, including tax support and pension planning.

Our support for medical professionals extends to dentists from our dental accountants, doctors from a specialist GP accountant and accounting for healthcare professionals. Our healthcare accountants work in partnership with vets to ensure they have the financial support they need to secure their financial future, but also ensure the security of their veterinary practice.Finally, focus on what you love: expert support to alleviate the immense administrative and financial pressure of running a practice

Working with Us

At RMT Accountants, our accounting services cover all aspects of your finance needs.

Even as the financial affairs of your practice become more complex, our  accountants are here to help you navigate any changes or new regulations as they come into force. We also understand the VAT complexities unique to veterinary practices — from mixed supplies of medicines and animal feeds to correctly treating retail sales and farm animal services — and can ensure your practice remains fully compliant while maximising recoverable VAT.

From streamlining the finances of your practice and integrating IT systems to planning tax-efficient renumeration packages and identifying risks and opportunities, our specialist accounting for veterinary practices team can provide you with the bespoke financial advice you need. Our services include:

• Partnership structure and financing.
• Monitoring performance and income growth.
• Practice valuations.
• Partnership and personal taxation.
• Partnership disputes.
• Property issues.
• VAT issues.
• Business support services
• Succession and retirement planning
• Wealth management

We can also provide personal tax support, including guidance around your trusts and estates, inheritance tax planning and income tax. If you are planning to retire early or buying a second home, you may be uncertain of what you can achieve with your finances. We will support you in feeling confident with your money for the present and the future.

Choose RMT Accountants

At RMT Accountants, our team of accounting specialists for veterinary practices can help you get the most out of your work as a vet or, for practice managers, the most out of the operations of your clinic.

Offering support in monitoring performance and income growth, practice valuations, partnership and personal taxation, structure and financing, partnership disputes, VAT issues, business support services, succession and retirement planning and wealth management, our services will align with the support you require.

Contact us online or by calling 0191 256 9500 to discuss the needs for your veterinary practice or if you need a quick guide to how to approach the financial matters of your practice.