GP Practice Accountants

The healthcare sector operates like no other, and so we have recognised the need for its own distinct set of financial and accountancy services, including specialist support for NHS pensions. Recognising this, we have developed a comprehensive suite of medical accountancy services specifically designed to meet the unique needs of healthcare professionals, ensuring a hassle-free experience.

At RMT, our specialist GP Accountants offer medical professionals advice and guidance that is carefully tailored to the unique monetary and legislative environment in which healthcare industry workers live. We are here to help you navigate the complexities of your profession so that you can make the most of the opportunities and challenges you encounter – professionally, personally, and financially.

With experience acting for over 100 GP practices, we are well-positioned to support you with a wide range of services. Our knowledgeable, dedicated team delivers a responsive and proactive approach, all on a fixed-fee basis, ensuring transparency and value for money.

As proud founding members of AISMA, we remain committed to offering expert, tailored fixed-fee services that meet the specific needs of healthcare professionals. Services we provide include:

GP Practice Accounts

We can prepare your annual accounts in detailed formats incorporating the income streams of both PMS and GMS practices.

Benchmarking Practice Performance

We will undertake an analytical review of the practice results in comparison with the national profile of GPs. Benchmarking your accounts against national statistics can help you gauge the financial performance of your practice and identify possible areas where you can move the practice forward.

Annual Certificates of Pensionable Profits

We can offer advice and prepare the General Medical Practitioner’s annual Certificate of Pensionable Profits.

Partnership Agreements

We will provide advice regarding the inclusion of clauses on profit allocation, incoming and outgoing partners, property, taxation (we are the experts in this field) and other medical issues.

Surgery Premises and Partnership Capital

We’re happy to offer advice on property capital and partnership capital charges.

Partnership Disputes

We can offer expert, objective help regarding any difficult areas arising in partnership disputes.

Tax Planning

We offer advice on planning to minimise liabilities, early warning of ‘tax time bombs’ and overlap relief issues for new and retiring partners.

Locum Cover

We can help you answer questions such as ‘What level of cost is appropriate?’, ‘Are internal locums acceptable?’ and ‘Is PCT Locum reimbursement available?’

Premises

We will work with chartered surveyors to offer advice on the value of buildings. We also have strong links with appropriate bodies where funding may be needed.

Personal Financial Planning

We can look at your needs as a partner in practice and as an individual. We can offer objective advice on everything from income protection and critical illness cover to investment management and inheritance tax planning.

Education and Information

We can attend practice management meetings and will help you keep your finger on the pulse of what is happening in the medical world. We publish all AISMA technical publications (including the annual survey of GPs accounts and local statistics by Strategic Health Authority). We also edit the Medical Practitioners’ Financial Handbook.

IT Consultancy

We offer access to IT consultants through our sister company, RMT Technology. They will ensure that you receive your accounting and business information in the most efficient way possible. For example, if you’re looking to change your accounting system, we can guide you through this process and train you to use the new system. To learn more about our medical focussed IT services please click here