c

Taking account – is having an accountant a luxury or a necessity?

2nd November 2018 by Liz Densley

Taking account – is having an accountant a luxury or a necessity?

Are you confident that you can keep up to date with all the changes in tax law, practice, tax tribunals etc? It’s hard enough when it’s your full time job, so should we as sessional GPs be managing our personal tax or should we be seeking the services of a professional?

Why use an accountant if you are not trading through a limited company?

Are you confident you can deal with pension certificates, calculating your pension input figures for tax purposes and calculating unused relief to carry forward?

Can you think of a better use of your time spent dealing with it all yourself?

If you are salaried, with just a claim for professional subscriptions and no other income, no complications around child benefit or pensions annual allowance charge – then you will probably be capable of doing your own return safely – but it may be time consuming, particularly checking HMRC’s calculation of your tax/student loan repayments etc.

Read more

No credit card details needed – it takes two minutes.

Join free trial

Login

Already a member? Login to view this content.

Login

Related content

"I have found LocumDeck to be the most helpful and invaluable resource for keeping bookings and accounts. I want to thank you for the wonderful service you provide. Many thanks once again for all the NASGP provides, and particularly for use of the excellent resource LocumDeck has proved to be – something I have recommended to many colleagues who have taken a step to locum work."

Dr Ruth Snowball, GP, Birmingham

Dr Ruth Snowball, GP, Birmingham

See the full list of features within our NASGP membership plans

Membership