Medical Specialist Accountants

The World of GPs has changed from the introduction of the new contact in 2004. In addition to being responsible for delivering primary health care, GPs now need to exercise budgetary control, deal with staffing matters, practice financial planning and effectively run a business.

At Bridge, Chartered Accountants we understand your needs and plan our services and assistance to ensure your business runs efficiently and effectively to allow you to concentrate on the delivery of primary care.

Accountancy and taxation services

We provide a full range of accountancy and taxation services to ensure your accounts and tax returns are prepared on a timely basis and submitted to HM Revenue & Customs in advance of appropriate deadlines.

We provide advice on all available relief and allowances to ensure your income tax liabilities are minimised.

We ensure the service we provide is efficient, effective and tailored to your needs. We will agree timetables in advance of accounts preparation and arrange meetings at locations and at times convenient to you.

We keep you up to date on changes to the GMS contract and assess their financial implications on your practice.

Practice management

Preparation of cashflow and budget control of costs is essential to the smooth running of your practice. We provide a full service from preparing management accounts to implementing systems and training, to assist you in the management of your income and expenditure.

We offer a full payroll bureau service were we can either operate your staff payroll or provide advice to ensure you are keeping up to date.

Computerised packages – We have expertise in various software packages including Sage and Iris GP accounts and as well as providing training and support we can carryout a full system review to ensure your are getting maximum benefit from your software.

Revalidation and CPD – We provide tailored training programmes, concentrating on the financial management of your practice, to assist you with your CPD and revalidation requirements.

For Hospital Consultants we provide experts who are familiar with your circumstances and profession. Our aim is to provide you with a bespoke service covering all your taxation and financial needs.

Accountancy and Taxation Services

We provide a full service covering all your accountancy and taxation needs for both your private earnings and salaried positions.

We advise you of all available relief and allowances to assist you in minimising your income tax liabilities.

We will prepare your tax returns, submit them to HM Revenue and Customs and deal with all correspondence and enquiries on your behalf.

We offer a full review of your tax position and suggest planning opportunities appropriate to your circumstances.

Specialist Services

We can review your circumstances and the level of your private fees and advise you on the pros and cons of setting up a limited company for your private practice and will help you reach the right decision.

Whether you are investing in business premises, investment properties or a second home we can evaluate your circumstances and provide advice regarding ownership options and relevant tax issues.

Inheritance tax planning – we offer an overview of your own and your family’s position to help you mitigate any potential Inheritance tax liability arising.

We can offer advice on planning opportunities including the use of trusts to assist you in planning for the future.

Planning for retirement is essential for all professionals. Working with pension experts, we can assess your current position and, taking into consideration your future requirements, we can offer advice and tax planning to ensure you are making best use of both the NHS Superannuation scheme and private pension schemes.

Good practice management can not only improve your income, it can also improve staff morale and your own quality of worklife balance. As leading Medical Specialists we are in a position to provide you with a detailed analysis of the performance of your practice.

Benchmarking Your Practice

As Northern Ireland’s leading medical specialist accountants and members of AISMA we are in a position to assess the performance of your practice in comparison to:

• The Bridge (NI) average practice
• Practices of similar size
• Practices operating within the same Health Board and Local Commissioning Group

Local Commissioning Group

We can provide an analysis of your performance and offer advice on areas were improvements can be made to make your practice more profitable and efficient.

We can compare the performance of NI practices against those across the U.K which allows us to assess the impact of alternative financial structures for delivering primary healthcare.

Practice management

Preparation of cashflow and budget control of costs is essential to the smooth running of your practice. We provide a full service from preparing management accounts to implementing systems and training, to assist you in the management of your income and expenditure.

We offer a full payroll bureau service were we can either operate your staff payroll or provide advice to ensure you are keeping up to date.

Computerised packages – We have expertise in various software packages including Sage and Iris GP accounts and as well as providing training and support we can carryout a full system review to ensure your are getting maximum benefit from your software.

Revalidation and CPD – We provide tailored training programmes, concentrating on the financial management of your practice, to assist you with your CPD and revalidation requirements.

Whether you are a locum Doctor at the early stages of your medical career, a career Locum or a portfolio Doctor doing sessional and salaried work, we provide a specialist service tailored to your needs.

Accountancy and taxation services

We offer a full range of accountancy and taxation services to ensure your accounts are prepared on a timely basis and your tax returns are prepared and submitted to HM Revenue & Customs in advance of appropriate deadlines.

For new self employed doctors we will assist you with registering with HM Revenue & Customs and advise you on the correct records to keep.

We will keep you advised of all available allowances and planning opportunities to ensure your income tax liabilities are minimised.

We can forecast potential tax liabilities to assist with your cashflow planning and to prevent unexpected surprises.

Specialist services

Partnership opportunities – we offer expert advice on the financial matters to consider when offered a partnership. We can furnish you with a confidential review of the practice accounts and an estimate of your potential earnings.

Property purchase – we can provide an expert analysis of the advantages and disadvantages of buying into surgery premises.

Capital taxes planning – we offer advice on all aspects of capital taxes ranging from a full inheritance tax review to specific advice in respect of capital gains.

Working with pension experts we can review your current position and taking into consideration your future requirements we can offer advice and tax planning to ensure you are making best use of both the NHS Superannuation scheme and private pension schemes.

In addition to providing accountancy, taxation and business advice we can assist Doctors in meeting their CPD requirements.

We offer training sessions, seminars and interactive problem solving surgeries on business and financial aspects affecting the medical profession.

Seminars and talks

To individual practices or groups of practices on a range of topics across the practice management spectrum.

To hospital consultants and GP’s on tax saving opportunities and initiatives available to them.

Practice based learning days

We can facilitate or assist you with your practice based learning day by providing a tailored seminar specific to your needs and requirements.

Away days – we can assist in the planning and running of your away day to ensure you remain focused on the main objectives to obtain maximum benefit.

Revalidation

With the introduction of revalidation we offer a range of seminars focusing on practice management and the financial aspects of your practice.