Other Healthcare Providers
We act for an increasing number of other Healthcare providers including Pharmacies, Opticians and Physiotherapists, across all our offices.
Our partner led service ensures that you receive timely and accurate advice from the appropriate person in our Healthcare team.
As well as dealing with the compliance based services such as preparation of accounts and tax returns in a timely and efficient manner, we also provide additional services and information to help our Healthcare clients better understand their financial figures and minimise potential tax liabilities. This is done by providing regular bulletins and seminars aimed specifically at topical issues for Healthcare providers. We also prepare annual benchmark reports on how the finances of the Practice compare with local/national averages.
For clients in this sector we often also advise on the following specialist areas:
- Choice of business entity – advice at start-up or a review of existing trading status. There are several options beyond the traditional sole practitioner, partnership or limited company options. Increasingly, other structures such as a Limited Liability Partnership or the introduction of a corporate partner into a partnership are being considered and utilised.
- Profit improvement analysis – review of your Key Performance Figures (KPIs) and advice on how to improve profit.
- Business plans, including Cash Flow Forecasts – assistance in preparing, updating or reviewing the Business Plan or Action Pan for the Practice. We can also assist in preparing multi year financial projections, including projected Profit and Loss, Cash Flows and Net Assets.
- Buying or selling a Practice – advice on the process and throughout the process, assistance with goodwill valuations and consideration of all related tax aspects/planning opportunities.
- Incorporation advice – advice on all aspects of transferring a sole practitioner or partnership business into a limited company. There are many planning opportunities and these require to be discussed fully and related to the specific circumstances of the Healthcare provider before any action is taken.
- Advice on Partnership Agreements & Shareholder Agreements – we review and advise on such Agreements, particularly the financial and tax clauses.
- Specialist tax advice – we have a specialist tax consultancy team that can provide comprehensive and constructive practical advice in all areas of tax. Such areas include onshore and offshore planning, VAT planning, strategic planning and corporate restructuring, Stamp Duty Land Tax planning and dealing with tax investigations and HMRC enquiries.
- Bookkeeping and computer advice – we can either assist with the bookkeeping function or review on a regular basis the management accounts produced by the Practice bookkeeper. We can also advise on and assist with the choice and installation of a computerised accounting package.
Our services are built around our four main commitments to our Healthcare clients, which are:
- To provide the Practice with meaningful financial statements.
- To review the financial statements to ensure maximum profitability.
- To provide proactive advice to the business owners on financial, taxation and consultancy matters.
- To develop a close working relationship with the Practice.
For a free consultation/meeting, please contact Neil Morrison in the first instance on 01738 441 888 or email neil.morrison@campbelldallas.co.uk.
