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Healthcare Services

We provide practical support and advice from a partner led specialist healthcare team.

Whether you are a GP, locum, consultant, dentist or pharmacist, we can help you manage your tax and accounting affairs (including superannuation) whilst demystifying some of the more complex financial issues you face, enabling you to effectively manage and deliver your ‘day-job’.

Our dedicated specialist healthcare team has an abundance of expertise and experience in providing practical and flexible advice to healthcare clients, assisting you to transform the way you manage your business and financial affairs. No matter what your circumstance, our comprehensive suite of sector specific accountancy, tax and business advisory services will assist you in achieving your aspirations, whilst also ensuring you and your business are compliant with both tax and reporting responsibilities.

We pride ourselves on the relationship we build with our clients and our ability to provide expert timely advice in a language that you’ll understand.

 

Association of Independent Specialist Medical Accountants (AISMA) 

We are proud to be members of the Association of Independent Specialist Medical Accountants (AISMA) which promotes and exchanges the best practice in the field of medical finance. Established almost 25 years ago, today there are over 75 members located across the UK with the aim of:

  • Promoting and developing high quality accountancy standards within the medical sector;
  • Promoting the interests of member firms and the medical profession in negotiations with HM Revenue & Customs, the NHS Pensions Agency and other bodies;
  • Developing expertise and disseminating information amongst member firms;
  • Presenting a forum for sharing knowledge; and
  • Promoting to the medical profession the benefits of using a specialist medical accountant.

   

 

Healthcare Services

Our support to the healthcare sector includes the following services:

Accounting Services

Our specialist healthcare team understand the dynamic sectors in which you work. Their detailed knowledge of the medical, dental and pharmaceutical sectors enables them to deliver first class accounting services to you, whatever your business structure. Upon receipt of your accounting information we will prepare and deliver accurate and meaningful annual financial statements and management accounts, challenging you on unexplained variances whilst proactively sharing opportunities to enhance your profit.

Taxation Services

Whether a partner in a partnership or a director/ employee in a company, we can provide tax compliance services to you and your business. For higher rate tax payers, we will work with you to ascertain whether you are impacted by Tapered Annual Allowance, applicable when your pension fund growth exceeds pre-defined HMRC thresholds; and estimate your potential tax liability should your actual pension fund growth figures not yet be available. In addition to tax compliance services, we also offer tax consultancy services working with you to manage your tax affairs, and those of your business, in an efficient and effective manner both for today and for the future.

Pensions and Superannuation

Our specialist healthcare services team have many years experience of compiling Type 1 and Type 2 NHS superannuation certificates for client approval and onward submission to Primary Care Support England [PCSE]. Armstrong Watson's Financial Planning and Wealth Management team are also on hand to provide specific pension advice to individuals and assist in the selection of a pension scheme to meet the needs of your business.

MDU & DDU Partnership

Armstrong Watson has teamed up with the MDU to provide their members with preferable fee rates on tax, accounting and business advisory services, plus access to a dedicated free member helpline offering a 20 minute no obligation consultation.

If you are an MDU or DDU member, don’t forget to include or mention your membership number when getting in touch with us. For further information on our exclusive MDU/DDU partnership visit their site or book an appointment with a member of our team.

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Self-serve tax return solution for non-complex submissions

tax4doctors.co.uk is Armstrong Watson's unique tax return service available to those working in the medical sector who don't currently require the services of our Healthcare accountancy specialists but are looking for a quick and simple solution to submit their tax return.

 

Other Armstrong Watson Healthcare services include:

  • Completion of ‘Estimate of Superannuable Pensionable Profits/Pay’ form for submission to PCSE;
  • Determination of GP Earnings for publication on practice website;
  • Budgeting and cash flow forecasts;
  • Business planning and strategy development;
  • Migration and support of cloud accounting systems [Xero platinum partner];
  • Tax Investigations Insurance;
  • HM Revenue & Customs enquiries;
  • Payroll bureau services
  • Practice mergers and financing
  • Property and practice structures
  • Retirement and succession planning
  • Surgery developments

  • This is not an exhaustive list but a sample of some of the services we can provide.

Call NOW to speak to one of the Healthcare Services Team

Call: 0808 144 5575

Accounting for Dentists and Dental Practices

Our specialist dental team can give you real peace of mind when it comes to the financial side of practice management. We can look after the full range of accounting, tax and financial planning services for your dental practice using our specialist knowledge of the dental sector to help your dental business. 

We understand how busy dentists are, and we’re here to support you rather than add to a busy work load.

We will ensure your practice is structured in the most effective way tax wise which means you keep as much of your profits as possible. Our deep understanding of how both private and NHS practices work, including restrictions surrounding NHS contracts can ensure you get the right structure in place.

We can monitor your performance and give you real time analysis of how you are performing against various bench mark figures though our use of the latest in cloud accounting technologies. Our platinum partnership with Xero, who are the leaders in their technology, helps streamline your business and keeps your financials to hand at the touch of a button.

Because our firm has many areas of specialist knowledge, we’re able to bring in strategic advice for your practice whenever you need it. You benefit from one point of contact, a strategic approach and joined up advice to help your practice achieve its goals and aspirations. 

Consistent support through every stage

Your business journey and growth are fully supported by a team with consistency as we are experienced in supporting practice owners, associates and hygienists, from qualification through to retirement planning.

Keeping money in your practice

You keep as much of your hard earned profit as possible as we can ensure you have a tax efficient structure in order to be as efficient as possible.

Technology to keep you up to date

You can only make informed spending decisions for your practice when you have a good detail of visibility of your financial position. We make sure you always have the latest, accurate financial information about your practice, when you need it.

Joined-up, strategic advice when you need it

You never know when you need advice from other areas in order to pursue your practice objectives. We have the experience to being in other areas of our business to advise you, such as business finance, tax and financial planning. You benefit from joined up advice which benefits your practice strategically.

Specialist knowledge that can benefit you

You need to get advice and support from industry specialists who have a detailed knowledge of your sector. As our articles and thoughts are often published, we are at the forefront of the sector.

What our clients say

Since commencement of the Covid-19 lockdown, Armstrong Watson proactively engaged with me and my dental business, providing robust financial advice for both. This has been a stressful 12 months but knowing I could contact Morag at any time with any financial queries has been a big help to me.

Jonathan Scarlett, Principal Dentist and Dental Practice owner

No question I ever ask is deemed to be too big or too small – the Armstrong Watson medical services team are really knowledgeable about Primary Care and are responsive to the needs of our practice; routinely providing support to me as I oversee the management of our practice finances. Every member of the team is approachable and friendly whilst remaining totally professional.”

Ms Carol Brown, GP Practice Manager

Armstrong Watson look at each partner in a holistic manner to ensure we all understand the financial statements and any new legislative requirements whilst also working with us to effectively manage our remuneration and tax liabilities

Dr Rachel Dawson, GP Partner

Armstrong Watson proactively keep us up to date with changes to regulations and reporting requirements in a timely manner, so we are confident that we are managing our practice and personal finances well

Dr Charles Strachan, GP Partner

Armstrong Watson have been my accountants since becoming a businesses owner 6 years ago. They helped me throughout the set up and since. The firm has been able to keep me fully informed of any changes in legislation and were a great help in providing advice and set up for staff pensions. Through the hard work of the staff at Armstrong Watson I am able to relax and know that my accounts, pay roll and staff pension are correctly and professionally dealt with leaving me to concentrate on running the best businesses I can. 

I would highly recommend Armstrong Watson to sole traders and limited companies alike who are looking for a professional and dedicated accounting firm.

Christopher Sherwin, Church Street Dental Practice

In all my dealings with Graham, I have found him to be exceptionally professional. He has dealt with several complex issues for me, including the merger of several businesses. He is very well supported by a strong team at Armstrong Watson and has been instrumental in allowing me to expand my business to multiple locations. I would highly recommend Graham and Armstrong Watson

Chris Matthews, Silver Link Clinics

Since changing Accountants a little over 18 months ago, we can honestly say that Armstrong Watson have been excellent.

Richard Askew has been brilliant in dealing with our accounts and very supportive in helping us convert to the Xero Accounting software and nothing has been to much hassle for him. The Payroll Department have also been amazing too, especially Lisa Grainger, who deals with our wages.

I would happily recommend Richard and Armstrong Watson to anyone looking for a proactive firm of Accountants and Business advisers

Kelly Hunter, Living for Life (Cumbria) Limited

I have been with this firm since being a newly qualified dentist 25 years ago and have always been pleased with the service that they provide. I find Sharon to be easily approachable and efficient in dealing with any queries that might I have.

I have also recently switched to Armstrong Watson for the running of the payroll of the practice. This had to be carried our at  short notice and was very smoothly done.

Sue Barrett, Seacroft Dental Practice

Resources

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Articles

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Testimonials

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Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU where a list of members is kept. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. Unless otherwise indicated, either expressly or by the context, we use the word “partner” to describe a member of Armstrong Watson LLP or an employee of Armstrong Watson LLP in their capacity as such.

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Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales, number 7208672. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU. Armstrong Watson Financial Planning & Wealth Management is a trading style of Armstrong Watson Financial Planning Limited. Armstrong Watson Trustees Limited is a limited company registered in England and Wales, number 84495656. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU.

MyRetirement is a trading style of Armstrong Watson Financial Planning Limited.

Armstrong Watson is a trading style of Armstrong Watson LLP, Armstrong Watson Audit Limited and Armstrong Watson Financial Planning Limited.