Doctors Surgery Accounts

WHOPPIT
WHOPPIT Registered Posts: 7 New contributor 🐸
in General accounting discussion
Looking at taking on such a client and just wanted to know if anyone on here had experience of doing such like, pitfalls etc. Specific regulatory bodies that you have to deal with - how similair to Solicitors Accounts would they be with regard to javing them signed off?

Any help on the matter would be greatly appreciated.

Comments

  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
    i did books a few years ago for cosmetic surgrey company, it took up a fair bit of time and a lot of paperwork but farley straight forward, watch for subcontact work and referals, however gave up the work as they needed a full time bookeeper on site.
  • farmergiles
    farmergiles Registered Posts: 1,693 Beyond epic contributor 🧙‍♂️
    WHOPPIT wrote: »
    Looking at taking on such a client and just wanted to know if anyone on here had experience of doing such like, pitfalls etc. Specific regulatory bodies that you have to deal with - how similair to Solicitors Accounts would they be with regard to javing them signed off?

    Any help on the matter would be greatly appreciated.

    I have worked on doctors year end accounts. You have to deal with the PCT regarding their income and the doctors like the income broken down into all the various streams that they qualify for. I don't think that there are any reasons why an MAAT can't sign them off.
    Also be wary of superann and the fact that they all like a pension statement at the year end.
    PM me if you have any other queries, I'll help if I can.
  • Vonni
    Vonni Registered Posts: 63 Regular contributor ⭐
    Hi you will need to complete the annual pension forms and break down all the income and make sure you don't net off any of the reinbursements against expenses as this needs to be shown seperately. In addition if they are VAT registered you will need experience of VAT partial exemption schemes in particular those relating to GP's.

    You will also need full details of incoming and outgoing partners within the practice if applicable.

    Additionally the doctors can claim some personally incurred expenses against their practice income share so look at the Revenue website for information on how to claim CA's and expenses for individual GP's.

    Good Luck

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