shaw gibbs - accountants and business advisers
accountants & business advisers

Healthcare

Healthcare

We are located in some of the country’s thriving healthcare centres of excellence. Among others, we act for: medical consultants, dentists, nurses, care homes and physiotherapists.

A specialist team with extensive healthcare experience

Core services

Pension savings tax charges
Private practice structuring
CGT/IHT planning
Accounts preparation

  • Pension savings tax charges

    You may have to pay a tax charge if your total pension savings during a year are more than the annual allowance (AA) for the tax year (plus any unused AA from the three previous tax years). Or, in certain circumstances, if your pension savings in defined contribution arrangements exceed the money purchase annual allowance.
    Where your threshold income plus pension inputs exceeds £200,000, you may be liable to reduced or tapered allowance. Where fluctuating earnings are concerned, making large pension contributions early in the tax year can lead to consequences later.
    We can advise you on ways to mitigate these charges.
    Book a Meeting
    Where your threshold income plus pension inputs exceeds £200,000, you may be liable to reduced or tapered allowance. Where fluctuating earnings are concerned, making large pension contributions early in the tax year can lead to consequences later.
    We can advise you on ways to mitigate these charges.
    Book a Meeting

  • Private practice structuring

    Effective tax structuring means you are compliant, but also reduces the amount of tax you pay to the minimum required by law.
    We will look at everything, from how your practice is structured and what allowances you claim to how you extract profits and what your succession plans are.
    We have a dedicated team of chartered tax advisors, who have the expertise and specialist knowledge required to deliver commercial solutions. Our team provide you with the structuring insight to make effective taxation decisions.
    Book a Meeting
    We have a dedicated team of chartered tax advisors, who have the expertise and specialist knowledge required to deliver commercial solutions. Our team provide you with the structuring insight to make effective taxation decisions.
    Book a Meeting

  • CGT/IHT planning

    Inheritance tax (IHT) is levied on a person’s estate when they die, and certain gifts made during an individual’s lifetime. 
    Capital gains tax (CGT) is payable when you sell relevant assets such as shares or property and make a profit in excess of the annual exemption.
    We are able to calculate the CGT that you have to pay on disposal, while advising on the reliefs and exemptions available, such as private residence relief.
    In seeking professional advice, there is scope for substantial savings surrounding CGT and IHT. We will tailor our strategy to fit your situation, taking into account your circumstances and aspirations, whilst focusing on your long-term financial security.
    Book a Meeting
    We are able to calculate the CGT that you have to pay on disposal, while advising on the reliefs and exemptions available, such as private residence relief.
    In seeking professional advice, there is scope for substantial savings surrounding CGT and IHT. We will tailor our strategy to fit your situation, taking into account your circumstances and aspirations, whilst focusing on your long-term financial security.
    Book a Meeting

  • Accounts preparation

    Whether you are a sole trader, partnership, limited company, limited liability partnership or other type of entity, we can assist you with your year-end (or end of period) accounts preparation. We help with everything, from agreeing timetables to ensuring that technical accounting standards have been met.
    We’ll get to know your business and the individuals within it, so we are ready to advise on the best systems and procedures so you can operate with optimum efficiency.
    Book a Meeting
    We’ll get to know your business and the individuals within it, so we are ready to advise on the best systems and procedures so you can operate with optimum efficiency.
    Book a Meeting

Added value services

National Insurance Contributions (NICs)

You may be paying more National Insurance than you need to. Collection of the different classes of contribution are handled separately during the year, meaning that mistakes can easily be made.
The National Insurance Contributions Office (NICO) is not obliged to check for overpayments at the end of the tax year, so overpayments are common and refunds are not automatically actioned. Shaw Gibbs can take the necessary steps to rectify this and get your money back.

Accounting software selection

Business information has never been more important. You need to understand your financial situation to be able to make fast, accurate decisions to seize opportunities. Choosing the right software will save you time and ensure that your business grows in the desired direction.
Our team of experts will review your systems, provide implementation support and ongoing training depending on your specific needs. Once software is in place, we can create tailored reports and show you how to extract valuable information for your business.

US tax compliance

Shaw Gibbs, working with a carefully selected IRS registered preparer, is able to assist US persons resident in the UK in becoming compliant with their annual filings and remaining US compliant, without incurring late filing penalties. For more information, personal tax - US tax compliance.

Payroll

There is ever increasing legislation surrounding Payroll for those wishing to pay themselves, their employees, spouses or dependants a salary.
Pensions and auto-enrolment are complicated areas, and the penalties in place for not adhering are particularly high.
We can set up your payroll and auto-enrolment schemes to guarantee full compliance, while meeting both internal and external deadlines. Furthermore, we can inform staff/others of the relevant legislative changes as they arrive.

I am able to ask Darshil questions which aren’t linked to a typical accounting service and he has always been able to help without fail. Every year, we have a meeting with Shaw Gibbs to discuss how everything is going and how we could move forward and this is incredibly useful.

Nicole McDonald - Finance Manager, DRS Care Homes

Shaw Gibbs recently assisted in the successful sale of my business. Throughout the process they practiced clear communication and their expansive knowledge in the field was certainly advantageous.

Philip Barclay - Managing Director, Clinical Innovations (Europe) Limited

Related services

Other clients who use us for Healthcare are interested in

Personal Tax

Accounts

Need expert advice?

Speak to an expert for advice on
+44-1865-292200 or get in touch online to find out how Shaw Gibbs can help you

Email
info@shawgibbs.com

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