Guidance on GP Practice Partnerships & Mergers

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    Facilitating Growth: Partnerships and Mergers for GP Practices

    When your GP Practice seeks expansion, partnerships and mergers become pivotal opportunities. Nichols Medical Accountants expertly guides you, ensuring every financial aspect is considered and that you’re well-prepared for these transformative steps.

    Financial Consultancy for GP Practice Mergers

    As you contemplate merging, reliable financial advice becomes indispensable. We provide comprehensive consultancy, empowering you with the necessary financial details to make the best decisions for your practice’s future.

    We are increasingly being asked to carry out consultancy work for practices considering merging. Areas in which we can help include:

    Mergers

    • Providing merging partners with the financial information they need to make informed decisions concerning the financial implications of a merger.
    • We assess how a merger will affect partners’ incomes.
    • We clearly show who will be the financial winners and financial losers in a merger.
    • We advise on ‘parity’ models where merging practices have significantly different levels of income.
    • We check all the merger documentation to ensure it is practical and makes financial sense.

    Partnerships

    • Partnership agreements are crucial to properly protect the financial and other interests of all GPs.
    • Partners often only realise their importance late in the day after they are already embroiled in legal wrangling!
    • We advise on all financial aspects of partnership agreements.
    • We ensure that the agreements properly reflect what happens in real life and ensure the agreements meet partners’ expectations.
    Extended Services for GP Accounting

    Nichols & Co Medical Accountants offer a full range of services that support all aspects of GP practice financial management. Explore our advanced tax strategies and pension management services tailored for medical professionals.

    Solidifying Partnerships with Solid Agreements

    The foundation of a successful GP practice lies in its partnership agreements. We work closely with you to ensure these agreements are robust, clearly delineating responsibilities and expectations, thus protecting all partners’ interests.

    • Tailored advice for new partnership agreements.
    • Financial assessments for potential mergers.
    • Insights into income parity and financial impact.
    • Comprehensive review of merger documentation.

    Support for Your Practice’s Future

    Whether you’re taking on new partners or considering merging, Nichols Medical Accountants stands ready to advise on all financial aspects, from agreement nuances to the broader financial implications, ensuring your practice’s future is secure.

    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 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.

    Telephone: 020 8850 3300

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

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