Did you know Doctors can save money on Tax?
Recent changes in legislation have now opened opportunities for doctors to save Tax by incorporating their Practices into Limited Companies.
- Reduce Tax liabilities by using the lower rate of Corporation Tax of 20% and savings on National Insurance.
- Tax Planning Opportunities on the sale of the Practice to the Limited Company.
- Special Rules also apply for the provision of Pension for the doctors and employees.
- Limit your liabilities.
Khan Thornton specialise in the management of doctors’ tax and accountancy affairs. We provide independent and professional accountancy, financial and business advisory services to the medical Practices.
We deal with all aspects of your profession from Junior Doctors expense claims to full Multi Partner GP Practices.
All of our services are “in house” meaning we deal with every aspect from tax planning, tax returns, accounts, superannuation certificates, pensions, business planning, buy to let, payroll, auto enrolment, company formations and more in our offices with our staff that you can contact at any time. Unlike most over practices that subcontract out various parts of their accounts services we deal with everything so that we can provide you with timely and friendly personal advice to you.
Tax Guidance for Junior Doctors – BMA Guidance