Specialist advice for GP Medical Practices

Working within the NHS, resources and funding are always going to be critical to your general practice, but so is getting the correct financial and accounting advice to guide you through the myriad of conditions, rules and restrictions.

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Helping GP Medical Practices working in the NHS

Having worked with NHS surgeries for over 25 years, we are only too aware of the pressures facing primary care.  Funding is constantly being squeezed whilst costs inevitably rise.

Specialist Medical Accounting

For GPs to survive they need all the help they can get.  They need a specialist GP accountant who will ensure they understand their practice accounts, understand their taxation and NHS pensions and help achieve their long term financial goals.

Some of the benefits to GP practices of using our services include:

  • An all inclusive fixed fee for accounts, taxation and recurring advice, so you know what the costs will be.
  • We give a personal service. Our clients are important to us and they tell us that this shows in the way we deal with them.
  • Holding regular financial meetings to make sure you understand your accounts.
  • Preparation of practice accounts which meet national guidelines.
  • Providing drawings and tax payment schedules so you don’t forget important dates.
  • Carrying out tax planning to save you tax, taking advantage of legal and ethical ways to reduce your tax liability.

Working with you as your GP practice grows:

  • Advising on NHS pensions through our NHS pension management service.
  • Dealing with tax investigations through our Tax protection service.
  • Advising on superannuation estimates and repairing all superannuation certificates.
  • Helping with succession planning, advising on new partners joining and the retirement of outgoing partners.
  • Benchmarking your practice against national and local averages helps you understand how you are performing.
  • Advising on practice mergers.
  • Advising and assisting on the financing of NHS surgeries.

Serving the accounting needs of GP Surgeries for over 25 years

We have a growing number of clients that are GP surgeries in London, the South East and throughout the UK. We have been working with GP surgeries for over 25 years, handling a whole range of financial and accounting issues and need, so why not get in touch today to see how we can help you.

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Contact us for specialist medical accountancy services for GP Medical Practices

If you’re looking to plan your finances for the future or trying to find an answer to a problem then get in touch today.

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NHS PENSION REVIEW

Are you in danger of being hit with a huge tax bill on your pension growth? Our NHS Pension Review Service can provide an advance warning of impending pension issues.

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TAX ENQUIRY PROTECTION

HMRC have increasingly got GPs in their sights and many Practices have been subject to lengthy tax investigations. Make sure you’re covered with our annual insurance scheme.

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FREE

EXPERT CONSULTATION

Talk to one of our Medical Accounting Team for free. We can discuss your circumstances and how we can help you achieve better financial management, reduce your tax bills or plan for the future with a tailored fixed price plan.

Meet our team

We have a panel of subject experts and a team of professional accountancy support staff to make sure your specific needs are met reliably and cost effectively.

HOW WE CAN HELP

A specialist healthcare team to advise you
Call free for support at any time
Keep you up to date with the latest changes
No fuss, smooth process to change to us
Members of AISMA - Association of Independent Specialist Medical Accountants

What our clients say…

Tracy Ford, Practice Manager

We have been with Nichols & Co for over a year now. Very smooth transition with good communication at all times. We found them very professional and their knowledge of general practice is very reassuring. They make what can be complex situations easy to understand.

They have also introduced us to a Personally Administered Items claim review service, which has helped us not only making a retrospective claim for the missed income but also delivering improvement in our PAI income going forward.

I wouldn't hesitate to recommend them to anyone looking for an excellent, friendly, reliable accountancy service.

Dr William Jasper, GP Partner

We have received an excellent service since we moved to Nichols & Co. The transition has been the most hassle-free and transparent. They are always very helpful with any queries you might have and have a very good working knowledge of General Practice and are keenly aware of the challenges Practices face within the changing environment of the NHS.

We have been very impressed by the way Nichols & Co continue to deliver the range of services they provide from Accounts to Tax and NHS Pension advice.

At the year-end meetings, the accounts are presented in an understandable format without any unnecessary jargons. We have found Practice consultation and advice on Practice as well as personal tax matters from Nichols & Co specifically helpful.

We would not hesitate to recommend them to other GP Practices.

Drs R and N Nair

Nichols & Co have been our accountants for the last 6 years and we always feel that we are a valued client of theirs. They respond promptly to any queries you have either via email or telephone or if need be, in person. Each year Debra visits me at my practice and takes time to go through the accounts with me so that I really understand them, helping me make better decisions.

In 2017, we moved into new premises, and Nichols and Co were able to assist me with claiming back a large amount of tax on the refurbishment of our new premises.

Our practice has changed a great deal over the last few years and having the support of a good accountant has been a great help. I would recommend them without reservations.

GP Partner, London

Nichols and Co have provided high standard medical accountancy services to our GP practice for many years. 

They are experienced in their field and provide a dedicated partner who attends our annual financial partnership meeting. This meeting allows time for all involved to raise queries regarding issues such as tax and pension. Additionally, wider comparisons are made with local and national figures. Queries raised at other times are dealt with in a professional and time efficient manner.

I can recommend them.