Accounting & Tax Support for Doctors, Consultants and Private Clinics
Your professional life may be clinical. Your financial affairs can be considerably more complicated.
Many medical professionals receive income from several sources — perhaps PAYE employment alongside private practice, consultancy work, locum income, medico-legal work or income through a limited company.
Others are establishing or growing private clinics or aesthetics businesses alongside their medical careers.
Taxwise Accountants NI provides professional accounting and tax support to doctors, consultants, surgeons and other medical professionals across Belfast and Northern Ireland.
Our aim is to make the financial side of your professional life clearer, better organised and easier to manage.
Accounting for Medical Professionals With Private Income
Receiving private income alongside employment creates additional accounting and tax responsibilities.
Your circumstances might include:
NHS or other PAYE employment
Private consultations
Locum work
Consultancy income
Medico-legal work
Teaching or speaking income
Private clinic income
A limited company
Aesthetics services
Other self-employed professional income
Taxwise can help bring the different elements together so that you understand your overall financial and tax position.
Our Accounting Services for Medical Professionals
Depending on your circumstances, we can assist with:
Self Assessment
Private-practice accounts
Limited-company accounts
Corporation Tax
CT600 returns
Bookkeeping
Payroll
Xero
Business-expense reviews
Tax planning
HMRC correspondence
Cash-flow planning
Company formation
Ongoing business advice
Private Practice Accounting
You Focus on Your Patients. We Help Manage the Numbers.
Running a private practice means taking on responsibilities that may be completely separate from your clinical work.
Alongside treating patients, you may need to manage:
Business income
Expenses
Tax liabilities
Bank accounts
Bookkeeping
Company finances
Payroll
Equipment expenditure
Cash flow
Regulatory and filing deadlines
Taxwise NI can take much of that accounting administration away from you. Good financial records also help you understand how the private practice itself is performing.
Doctors With Multiple Sources of Income
Medical professionals frequently have more than one income source. For example:
PAYE Employment + Private Practice or Employment + Limited Company + Consultancy or NHS Income + Private Clinic + Aesthetics Business
Looking at each source independently can make it difficult to see the overall tax position.
We can help bring the relevant income and financial information together and explain clearly:
What needs to be reported
What records should be maintained
Expected tax liabilities
Relevant business expenses
Company obligations where applicable
Upcoming filing and payment deadlines
Limited Companies for Medical Professionals
Some medical professionals operate all or part of their private business activity through a limited company.
Where that structure is appropriate, Taxwise NI can provide ongoing company accounting support including:
Annual statutory accounts
Corporation Tax
CT600 returns
Bookkeeping
Payroll
Xero
Company filings
Director remuneration discussions
Business-expense reviews
Tax planning
The right structure depends on the individual’s circumstances. We therefore prefer to understand your professional and financial position before recommending a particular approach.
Accountants for Private Clinics
Running a clinic introduces another level of financial responsibility.
As the business grows, you may need to manage:
Clinic revenue
Practitioner payments
Employee payroll
Rent
Equipment
Software
Marketing
Insurance
Business expenses
Cash flow
VAT considerations
Corporation Tax
Having appropriate bookkeeping and accounting processes from the beginning can make the clinic much easier to manage as it grows.
Taxwise NI can support both established clinics and medical professionals setting up a private business for the first time.
Accountants for Aesthetics Clinics
Starting or Growing an Aesthetics Business?
A growing number of doctors and other medical professionals are developing private aesthetics businesses alongside their clinical careers. The accounting side should be considered from the beginning.
Taxwise can help with:
Business structure
Company formation
Bookkeeping setup
Business bank accounting
Payroll
Xero
VAT considerations
Corporation Tax
Equipment and business expenditure
Cash-flow planning
Annual accounts
Tax returns
Ongoing tax planning
This allows you to concentrate on developing the clinic while maintaining an organised financial structure behind the business.
It is much easier to establish good accounting processes at the beginning than to correct poor records later. If you are just starting, we can help you consider:
Business Structure Sole trader or limited company considerations.
Accounting System How income and expenses will be recorded.
Business Bank Account Keeping business and personal transactions organised.
Bookkeeping Establishing a manageable process from day one.
Xero Cloud accounting where appropriate.
Payroll Where employees or directors need to be paid.
Tax Planning Understanding likely liabilities and payment deadlines.
Growth Building an accounting system that can develop with the clinic.
Clear Communication We explain accounting and tax issues in straightforward language.
Business & Personal Tax Understanding Where engaged to do so, we can consider the relationship between your private business activities and your wider personal tax affairs.
Modern Accounting Digital bookkeeping and Xero support where appropriate.
Belfast-Based Professional local support from our office in Belfast.
Ongoing Advice We aim to be available throughout the year — not just when a tax return is due.
Support as You Grow Our service can develop from an individual Self Assessment through to company accounts, payroll, bookkeeping and more regular financial reporting.
Thinking About Moving Accountant?
If your private work or clinic has grown and you feel you need more support, changing accountant is normally straightforward.
Once appointed, we can help manage the professional handover and obtain the relevant accounting information from your previous adviser.
Whether you are a doctor starting private practice, a consultant with several income sources, a surgeon developing private work, opening a private clinic or building an aesthetics business, Taxwise Accountants NI can provide the accounting and tax support you need as the business develops.
Professional Accounting Support for Your Private Medical Business.
Not sure where to start or whether you need an accountant? Book a free, no-obligation consultation and get clear, practical advice tailored to your business.
