Healthcare Accountants and Business Advisors
for Healthcare Practitioners

If you started as a Self Employed healthcare practitioner between 6th April 2020 and 5th April 2021, you will need to register the business with HMRC and will need to file a Self Assessment tax return online by 31st January 2022. We can do this for you and make sure that you claim the correct expenses.

Welcome to Ainsworth Healthcare Accountants

We are healthcare accountants specialising in accounting and tax for UK health professionals.

Our clients include Doctors and complementary healthcare practitioners including Chiropractors, Osteopaths, Podiatrists and Physiotherapists.

We specialise in sole practitioners, locums, associates and contracting professionals. Newly qualified practitioners are very welcome.

Non-UK nationals are a significant percentage of our healthcare clients. We particularly welcome new clients from overseas, especially those who have settled in the UK after qualifying.

Our Services

Our services include:

It is important to note that if you started a practice as Self Employed between 6th April 2020 and 5th April 2021 the online filing deadline for your Tax Return is 31st January 2022. We prefer to file much ealier.

Please let us see if we can help you.

Accounting and Tax Services for Healthcare Professionals

Our service includes helping you chose the right software to keep your financial records.

We will advise you on what expenses can be claimed, prepare your Accounts and file your Self Assessment Tax Return.

Importanty, we will register your new business with HMRC if you are a new healthcare practitioner.

You will receive our free spreadsheet for your bookkeeping records.

Your Options

We can create a Limited Company for you, or first discuss the pros and cons. Our free spreadsheet for your company bookkeeping estimates your tax liability, and we provide the necessary training.

Critically, we can help you choose the right online accounting software and train you if required. Our recommendations are QuickBooksQuickBooks Online and FreeAgent.

Please remember, that if you started your practice as Self Employed between 6th April 2020 and 5th April 2021 the online filing deadline for Self Assessment is 31st January 2022. It is important to note this date because HMRC issue penalties if your Tax Return is late.

Healthcare Professionals

As specialist healthcare accountants, we provide Accounting and Tax Services to:

Podiatrists / Chiropodists / Foot Health Care
Personal Trainers

and other healthcare professions.

Limited Company or Self Employed?

We can help you consider the differences between being Self Employed and practising through a Limited Company.

You may be considering whether you should practice as a Limited Company, particularly if you are recently qualified, or currently registered as Self-Employed.

Please see our guide Sole Trader or Limited Company ? which explains many of the differences between them (this is a link to our main website).

Limited Company Information

Our Accounting and Tax Service for Healthcare Professionals  includes Limited Company FormationFinancial Accounts Preparation and FilingCorporation Tax FilingPayroll/PAYE and Software Supply & Support.

We will form a Limited Company for you, free of charge, and complete the registrations with Companies House and HMRC. This is subject to the condition of an annual contract to include Accounts & Tax filing, PAYE and Self Assessment, and the first instalment being paid in advance.

Free Spreadsheet

We will also supply you with our free spreadsheet to record your fees and expenses, which produces a Profit & Loss Account and Trial Balance and a running estimate of Corporation Tax payable.

Importantly for you, we also provide bookkeeping training and support.

Critically, during the year we will process your salary and dividend payments, and at the Year End we will file your company accounts and tax, and your personal Self Assessment.

Our main website includes information on:

• Limited Company Formation
• Limited Company Accounts
• Corporation Tax
• Directors
• Shareholders
• Dividends
• Self Assessment
• Income Tax
• PAYE Guide and Payroll Service & Software Options

Self Employment Information

We will prepare your accounts and file your Self Assessment with HMRC.

Our fees for the preparation of Self Employed Accounts and Tax Filing are from £30.00 per month, for 12 months, concurrent with the tax year, so May to the following April. Discount is available for practitioners who are newly qualified or new to practice. Fees may vary if your income is more complex, eg. investments and property letting.

We offer a free spreadsheet for bookkeeping.

Tax and National Insurance

You will need to file Accounts and Tax Returns by Self Assessment if you are Self Employed for UK Tax purposes.

Normally you will be paying Income Tax on the business profits, and usually Class 2 National Insurance, Class 4 National Insurance.

Student Loan repayments are also collected though your Tax Return.

HMRC regard you as running a business; you are not an employee of the business.

You are entitled to keep the profits of the business, after paying any tax, but as a Self Employed person you have unlimited liability for any debts of the business.

The potential taxes include:

• Income Tax
• Class 2 National Insurance
• Class 4 National Insurance
• PAYE (only if you employ staff)

Bookkeeping Training & Support

We supply a free spreadsheet for bookkeeping, however you may prefer to use online software which we support, eg. QuickBooks Online or FreeAgent.

We find that clients are able to keep good records, but will need training in the first year. An initial 5 hour bookkeeping training arrangement (email and telephone), is a useful start.

For basic transactions, eg. your fee invoices and expense claims, this additional bookkeeping training is unlikely to be necessary after the first year.

If you chose, we can do all your bookkeeping for you.

Software & Apps

With the right software, a considerable amount of the accounting and administration burden can be eased.

You may find that our free bookkeeping spreadsheet is all that you need for your record keeping, and it will save you the expense of online software.

The new breed of online accounting software, together with additional apps, are available on PC, Mac, tablet and smart phone.

Online accounting software enables you to access and update your records, raise sales invoices, check reports and manage PAYE/Payroll.

We support both FreeAgent and QuickBooks Online

Self Assessment: filing Accounts and Tax with HMRC

We supply a free spreadsheet for you to record your fees and expenses, which we check for you from time to time.

In a timely manner, after the tax year end, 5th April, we prepare your Accounts and Tax calculations and file with HMRC.

accountants for personal trainers - Close-up of female hand on mouse while working on laptop

Limited Companies: filing Accounts with HMRC and Companies House.

We supply a more detailed free spreadsheet for your company bookkeeping records.

After the company’s financial year end, we prepare the company’s Financial Accounts, in line with the statutory requirements.

We file the Accounts and Tax calculations with HMRC.

We also file the ‘Statement of Financial Position’ at Companies House.