Specialist advice for Hospital Doctors

Working for the NHS or in the private sector as a Hospital Doctor can be stressful enough without worries about your taxation, pensions and financial affairs as well. We can help you to keep your finances fit and your pension healthy.

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Claiming Expenses as a Hospital Doctor

The tax rules governing personal expenses for salaried doctors are strict and are by no means as generous as the expense rules enjoyed by self employed consultants and GP principals.The rules state that an expense must be incurred ‘wholly, necessarily and exclusively’ in the performance of the duties of a doctors employment.

Normally this will mean that there are 4 areas to look at:

Professional Subscriptions

e.g. – MDU, MPS, BMA, GMS, RCGP

These costs are always allowed by the Inland Revenue. However, please note that in circumstances where a hospital pays or reimburses these costs on behalf of the doctor, then the doctor will receive no tax relief on the cost.

Motor Expenses

As an employee, hospital doctors must claim motor expenses using the fixed profit car scheme. This permits a claim of 45p per business mile for the first 10,000 miles then 25p for each additional mile. It is not necessary to keep receipts for expenditure, but you must be able to support the number of business miles claimed, so you should keep a record of journeys. Please note that regular commuting is not treated as business travel.

Medical Equipment

Any medical equipment purchased by the doctor will be deductible as an expense of their employment provided the expense is incurred ‘wholly, necessarily and exclusively’ in the performance of the duties of an employment. A doctor may consider that any medical equipment is purchased for this purpose, however, beware:-

The Inland Revenue might argue that ‘if a piece of equipment is necessary for an employment, then it will be purchased by the employer’.

Course Fees

Provided the fees are considered to be incurred ‘wholly, necessarily and exclusively’ in the performance of the duties of an employment, then the fees will be deductible for tax.

However, not everything will be covered, a fee which will allow a doctor to gain an additional qualification or which will allow the doctor to be able to work in a new specialist area may be considered to be ‘capital’ in nature by the Revenue and therefore not deductible for income tax.

Helping you claim the right amount

We can work with you to ensure that you are claiming for legitimate expenses and not missing out on a tax rebate when you are entitled to it.

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Contact us for specialist medical accountancy services for Hospital Doctors

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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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…

Mr Muhammed Siddiqui, Hospital Doctor

As a trainee I was very unaware of the tax system when starting work. I was pursuing surgery and it resulted in paying for a lot of courses and locuming to support my journey. The tax system was very complicated and when I went to see Debra as I really had no idea how to start sorting out my tax affairs including correcting tax codes and what the locuming income meant for my current PAYE system and also how I could maximise my tax free amount with subscriptions.
I cannot thank them enough for helping. They really listened to my concerns and needs. I had never thought of getting an accountant until then and had never thought of stopping except for the fairness that Nichols and Co have dealt with me. They’ve taken me to a place where I am now beginning to do my own tax returns resulting in independence. Their ethical approach towards me has resulted in recommending my sister and other colleagues to seek their help. My emails are always answered quickly and appropriately. They are and, in particular, Debra truly exceptional accountants.