Specialist accounting for private clinics, dentists, opticians, and healthcare professionals with NHS income tracking and medical expense compliance.
Medical practice accounting straddles NHS pension annual allowance, private practice IR35, locum tax, and the complex VAT exemption for medical services. Westfin handles NHS Pension Scheme calculations, private practice incorporation, and locum agency vs self-employed status.
The reliefs, schemes and risks that consistently apply in this sector — with HMRC source links so you can verify everything we say.
Annual allowance £60,000; threshold income £200,000; adjusted income taper from £260,000 — tapered down to £10,000. Triggers AA tax charges for high-earning consultants.
Reference (gov.uk)Services by registered medical professionals for protecting, maintaining or restoring health are exempt — but cosmetic and medico-legal work can be taxable.
Reference (gov.uk)Locums via their Ltd Co are inside IR35 if the engager exercises supervision, direction or control. Off-payroll determination sits with the engager.
Reference (gov.uk)NHS vs private income tracking
VAT exemption for medical services
Equipment and medical supplies
CQC compliance costs
Medical indemnity insurance
Associate dentist income splits
Dual income stream tracking
VAT exemption applications
Capital expenditure planning
Associate commission calculations
Practice profitability analysis
NHS claim reconciliation
NHS and private income reconciliation
VAT exemption compliance
Associate and locum payment tracking
Medical equipment depreciation
CQC regulatory cost tracking
Healthcare-specific tax reliefs
Speak to our Healthcare & Medical accounting specialists today