Accountants for doctors – how do I find a good medical accountant?
by Dr Ed Cantelo GP Trainee, Chartered Accountant Chartered Tax Advisor
As a Doctor, Chartered Accountant and Chartered tax advisor, I often see colleagues who are paying too much tax as a result of making mistakes themselves or using non-specialist accountants. We built Medics’ Money to empower you to find a specialist medical accountant for doctors, handpicked and verified by us, with reviews from doctors like you.
Medics’ Money is the best place for doctors to find an accountant recommended and reviewed by other doctors.
How does Medics’ Money work?
We match your specific requirements to a suitable specialist from our network.
Who are the accountants on Medics’ Money?
They are 35 independent specialists that have been handpicked and verified by us, with reviews from doctors like you. All the specialists on Medics’ Money have one thing in common – they have passed our rigorous criteria and are Medics’ Money approved.
Here are a few things to look for when choosing a specialist medical accountant.
Is my accountant qualified?
Accountant is a non-regulated term meaning people with no qualifications at all can call themselves an accountant. All the independant specialist accountants featured on Medics’ Money are qualified members of one of the Chartered Accountancy bodies in the UK so you don’t have to worry. Medics’ Money matches your requirements so you find the best accountant for you.
Do I need a specialist medical accountant?
Doctors’ tax can be a complex area – for example the NHS pension, private practice income, GP practice accounts amongst other things. Unfortunately many accountants claim to be specialists but are not. Medics’ Money only matches you to independant specialist medical accountants that fulfil your requirements, verified by us with reviews from doctors like you. Book your free initial consultation with a Medics’ Money accountant here.
Does my accountant need to be local?
No. In the age of cloud based accounting almost everything can be done online and is often more efficient this way. Our software will match you to the nearest Medics’ Money accountant that fulfils your criteria. Find your nearest suitable specialist medical accountant here.
Some questions to ask your accountant
How can you help me improve my finances?
A good accountant will often save you more than they cost you in fees. Don’t be afraid to ask directly what benefits you can anticipate.
How do they charge fees?
Everyone’s personal tax situation varies making fixed price quotes tricky. But after your free initial contact your accountant should agree any fees with you up front before work is undertaken.
How has you accountant helped people in similar circumstances to yours?
If you are a senior registrar, how has your accountant helped others in your situation before. If you are a GP, how many GPs does your accountant act for and what is their knowledge of the specifics of your situation. All the independent accountants on Medics’ Money are specialists that act for hundreds, in some cases thousands of doctors and have been verified by us.
What records and documentation do you need to retain?
Your accountant should tell you what records you need to keep. Tip – accountants like information presented neatly and not just a big pile of receipts at the end of the year!