As a medical professional, not one day is ever the same. A myriad of different patient issues can be something you’ve never seen before, your ability to think on your feet and execute critical patient care does set you apart.
Inside or outside of IR35? Depending on whether you’re deemed inside or outside of IR35, there are several options available to you. If you’re deemed outside of IR35 by your end hirer, you may wish to be paid through a limited company, as this can mean increased tax efficiencies.
However, if you’re deemed to be inside of IR35, a lot of doctors choose to work as a sole trader, or through umbrella employment.
At SJD, we offer tailor-made solutions whatever your business structure.
How much value do you place on your time? It might be cost-effective, as a value of your time, to outsource your accounts to us. In other words, if you charge £50 per hour and it takes you 6 hours every month to handle your accounts, you are paying £300 per month for your time. Some of our packages start at £40 + VAT per month, depending on your business structure. Letting us take care of the numbers could make a lot of sense.
Also, it can save you time. Doctors are regularly placed in safety-critical environments with high patient expectations of quality care, regardless of their specialisation. Do you want to spend your time on your accounts?
According to how they pay themselves, doctors can choose from a variety of accountancy services. Personal tax returns, payroll, and annual accounts are some of the services provided.
What package is best for you is entirely dependent on your circumstances and how you have chosen to operate. For example, if a doctor working as a sole trader requires bookkeeping, our Premium package would fit their needs. If they just want the basics, then our Light package would be a better option, starting at just £40 + VAT per month.
However, it is all dependent on your circumstances. Get in contact with a member of our team who can explore all the different options available to you.
You can rely on your accountant to provide dedicated support and advice, while you focus on providing the best care to your patients.
Leading accounting software FreeAgent makes it easier to keep track of your finances.
How can we help you? To find out more contact us and a member of our team can go through your options and how we can help support you.
If you're already a client of ours, you can speak to your dedicated accountant directly.
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