Specialist advice for Locum Doctors

Working as a Locum can give you flexibility and a varied work experience, but making sure you are being paid correctly and not storing up trouble with HMRC can be more difficult, which is where we can help.

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Tax Enquiry Protection for Locums

HMRC have got locums in their sights!

They consider locum work to be a high risk area. They focus on limited companies and carefully check compliance with the ‘off –payroll’ working rules and IR 35. They are concerned by the use of ‘Contractor Loan’ schemes by locums and will scrutinise business expense claims very carefully after tax cases such as ‘Samadian’. HMRC are now trying to assess locums for VAT.

What can I do to protect against a costly tax investigation?

As a measure of our concern about the increased frequency and cost of tax investigations we recommend insurance to meet the cost of professional fees which are incurred in any tax investigation.

If a locum GP has a tax investigation, we will deal with the matter to ensure that the outcome is as favourable as possible.

But I’ve paid all my tax, so I’ll be OK won’t I?

Even if the result of a tax investigation is that no extra tax is payable, there will be significant additional costs to meet.
Just responding to the HMRC enquiries and making available the information they may demand will cause additional work.

We therefore recommend that all our locum clients take up our tax investigation insurance.

How does the insurance work?

For an annual subscription the insurance will enable us to make sure that, if you are investigated, we can dedicate as much time as necessary to get the best result for the locum.

Once a tax investigation by HMRC is launched, we will deal with the matter from the initial enquiries right through to resolution and ensure that the outcome is as favourable as possible to you.

Protect yourself today, contact us for more details of this insurance.

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Contact us for specialist medical accountancy services for Locums

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…

Dr Ravi Bansal, Locum GP

I’ve been with Nichols and Co for nearly 10 years with Debra being my accountant. I first contacted them when I received letters for tax arrears due to the wrong tax codes being applied during my hospital jobs.

Debra sorted this matter out and has always provided helpful and honest advice regarding tax matters. She has also helped my wife with her tax returns. I would definitely recommend their services for accounting matters with a special interest in helping doctors with their tax affairs. They are approachable, helpful and efficient.

Dr Jayran Mistry, Locum

Thank you for everything you at Nichols & Co have done for me with regard to my tax returns to date. I have always felt I am able to approach you with any question and that the answer is always helpful and thorough.

I am very grateful for how detailed, clear and efficient you are with tax returns and letters and for expediting things when needed. Every time I make contact with you I am met with polite staff and helpful advice and I have spoken with many of my friends about the service you provide and how good I think it is. I always recommend you. Thanks very much again, I really appreciate your hard work and help.