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Accountants for Locum Doctors

Stay ahead. Get Aligned.

As a locum doctor, your job requires constant movement, versatility, and dedication to providing healthcare services in a variety of medical settings. In the midst of your hectic schedule, it’s critical to keep your finances in order. This is where locum tenens accountants come into play. In this post, we’ll look at the specific financial problems that locum doctors encounter, as well as how working with skilled accountants may help you organise your finances and maximise your earnings.

Hiring accountants specifically for locum doctors offers significant advantages. These specialized professionals understand the unique financial challenges faced by locum doctors and can navigate complex tax regulations and deductions.

We provide a full variety of accounting and taxation services to ensure that your financial statements are generated on time and that your tax returns are submitted to the Revenue Commissioners.

We can advise you on your VAT duties if you work as a locum doctor through a corporate entity.

They ensure accurate bookkeeping services, timely tax filings, and personalized financial advice. By outsourcing accounting tasks, locum doctors can focus on patient care while benefiting from optimized tax planning, increased financial transparency, and peace of mind. Accountants for locum doctors provide a valuable service, helping these medical professionals manage their finances efficiently and effectively, leading to financial stability and success in their locum careers.

Locum, Salaried GPs and Hospital Consultants – Key Features

  • A fixed fee to include the preparation of income and expenditure accounts, tax return, and advising on tax liabilities
  • Advice on expenses to claim
  • Advice on claiming tax refunds in respect of earlier years professional subscription
  • Claiming tax back in respect of expenses which have not been claimed for the last four years
  • Review of accounts for potential partnerships and giving advice on becoming a GP partner
  • Advice on setting up a limited company

Locums

Working as a Locum doctor can give you flexibility and a varied work experience, but making sure you are being paid correctly and not storing up trouble with Revenue can be more difficult, which is where we can help.

Umbrella Company for Locums

Umbrella companies ‘Off Payroll’ working
An umbrella company offers many of the benefits available through a limited company but without the administrative burden.

Accounting & Tax for Locums

Our Expert team provide a wide range of accounting and taxation services to locum doctors. Our charges are important to clients and we therefore quote a fixed fee for our recurrent services. The quote will depend on the locums’ circumstances and the quality of their record keeping.

Fees for the non-recurrent services would be based upon the time involved and would be agreed prior to the work being carried out.

Limited Companies for Locums

It can be a tax efficient choice
Structuring yourself as a limited company can be a very attractive business structure. In the right circumstances it is possible for a doctor to achieve savings by:

  • Splitting their income with a spouse or civil partner.
  • Arranging for income to be taxed at 20% rather than the higher 40% or 45% tax rates.
  • Reduce National Insurance Contributions.

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