Core Services for Healthcare and Medical Professionals
Services for Healthcare & Medical Practices
Specialist medical accountants for GPs, dentists, consultants, and locums.
Practice Bookkeeping
Streamlined cloud bookkeeping that organises GP practice income, dental contracts, and private consultant billings.
NHS Pension Support
Expert guidance on NHS Pension Scheme contributions, annual allowance calculations, and lifetime allowance transition issues.
Annual Accounts
Preparation of GP partnership accounts, dental practice accounts, or sole trader accounts designed for medical professionals.
Medical VAT & Cost Sharing
Navigating complex medical VAT exemptions, partial exemption rules, and the formation of Cost Sharing Groups.
Practice Advisory
Financial performance reviews, partner drawings calculations, and practice succession planning to secure your future.
Medical Software Setup
Deploying modern cloud accounting software that integrates with medical billing systems to make practice tracking seamless.
How We Help Healthcare and Medical Professionals
Clear GP partnership accounts and dental contract performance tracking
Expert navigation of NHS Pension Scheme contributions and annual allowances
Specialist medical VAT advice, including partial exemption management
Proactive planning for partner entries, exits, and practice successions
Frequently Asked Questions
How do GP partnership drawings work, and how are they calculated?
Partnership drawings are regular payments made to partners throughout the year, representing an advance on their share of the practice profits. We calculate these based on the partnership agreement, factoring in tax reserves, superannuation contributions, and global sum allocations to ensure cash flow remains stable.
Are medical services subject to VAT in the UK?
Most medical services aimed at protecting, maintaining, or restoring human health are exempt from VAT. However, services such as cosmetic surgery, certain medico-legal reports, or clinical trials may be taxable. We help practices identify exempt vs taxable income and manage partial exemption calculations.
What is the NHS Pension Annual Allowance, and why is it a risk?
The NHS Pension Annual Allowance limits the tax-free growth of your pension in a single year (currently £60,000 for most, but tapered down for high earners). Exceeding this can trigger unexpected tax charges. We work closely with medical professionals to monitor pension growth and plan accordingly.
How do we handle dental contract income (GDS or PDS) in our accounts?
General Dental Services (GDS) and Personal Dental Services (PDS) contracts have strict performance targets (UDA targets). We structure your accounts to track contract performance, associate costs, and associate dentists’ pay, giving you clear visibility over your practice profitability.
Should a locum doctor operate as a sole trader or a limited company?
While a limited company historically offered tax advantages, strict IR35 rules in the public sector (including the NHS) mean many locum roles must be treated as inside IR35, reducing company benefits. We provide personalized reviews to determine the most tax-efficient structure for your specific locum work.
Talk To Us
We are here to make business feel clearer and easier, starting with a simple conversation. Whether you need a new accountant, specialist advice or wider support from the Nuvo team, we would love to hear from you.