Strategic Tax Planning for Consultants

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    Personalised Consultant Tax Planning

    Effective tax planning for consultants varies greatly based on individual circumstances. We address common and complex queries with bespoke advice.

    Navigating Consultants’ Tax Queries

    From paying family salaries to understanding dividends, we guide consultants through the intricacies of tax planning, ensuring clarity and tax efficiency.

    Benefits of Expert Tax Planning

    With targeted tax planning, you can enjoy a range of benefits, including lawful income splitting, optimal use of allowances, and strategic company structures for tax mitigation.

    • Smart income allocation with spouses.
    • Dividend strategies for family shareholders.
    • Capital gains tax advice on company wind-down.
    • Mortgage interest deductions for company-owned property.
    • Regular dividend distributions to avoid ‘money box’ scrutiny.
    • Professional advice on property portfolio tax planning.

    Tailored Tax Solutions

    Our tax planning services for consultants are not one-size-fits-all. We delve into your unique professional and personal financial details, developing a plan that maximises tax benefits, from salary structuring to retirement planning, while ensuring full compliance with current tax legislation.

    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.

    Dr William Jasper, GP Partner

    I am a GP who works both in salaried and sessional roles. I have been with Nichols & Co for nearly three years. They have helped with my tax returns and can help with the range of different forms required in GP work. Danny and Shadmir have been accurate and efficient in their advice and guidance throughout. They have also been helpful and responsive when I have needed advice on the purchase of a car and also when looking to prove my income in order to get a mortgage.

    The system for providing income details and expenses is very easy to use and the summary they provide of how and when to pay your tax could not be clearer. I would recommend Nichols & Co to any colleague looking for an accountant with a good knowledge of GP work. 

    Dr C DeSouza, Salaried 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 Ravi Bansal, Locum GP
    Get in touch
    Contact us for specialist medical accountancy services for Consultants

    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.

    Telephone: 020 8850 3300

    We’re open from 9am to 5pm Monday to Friday. We are closed on bank holidays.

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