Medical practices

Are demanding targets, smaller budgets and recruitment problems getting in the way of the most important thing: helping your patients? Our specialist medical practices team understands the pressures you’re under and offers a range of tailored services designed to help.

Running a medical practice can be demanding. GPs and practice managers face increasing patient numbers, tighter budgets, tough targets and the need to consistently provide a high level of patient care whilst staying up to date with changes. We understand the challenges you face and can provide the peace of mind of knowing that your accounting and advisory needs are in safe hands. As medical specialists we keep abreast of all developments in the sector and ensure that you are kept up to date with any changes that could affect you. Our experienced medical team provides advice to a range of clients, from locums and sole practitioners to large practices and federations. No two clients are the same, so the services we provide are tailored to your specific needs.

Practice accounts and accounting systems

We provide understandable annual accounts and can assist you in making the optimum use of your accounting system.

Benchmarking of practice performances

While your annual accounts will tell you how the business has performed, it is the benchmarking report that will show you how you have done compared to your peers. It identifies where you have done well and also where there is scope to improve.

Budgeting and cash flow

Take control of potential future budget issues. A practice budget and cash flow forecast will put you in a position to plan for any funding problems well in advance.

Tax compliance and planning

We will prepare the partnership tax return and the personal tax returns and professional expense claims for those partners who wish us to act for them. With the draft accounts we will give the individual partners an estimate of their tax liabilities in advance of preparing their actual tax returns.


RSM’s VAT team can help you plan a VAT efficient approach to every aspect of your business including:

  • VAT consulting and compliance services;
  • Capital and revenue spending reviews;
  • VAT advice on proposed transactions; or;
  • VAT health checks.

Our medical specialist VAT advisors work with dispensing doctors nationally and are renowned for helping the development of the VAT aspects of the IRIS accounting package for doctors. We are also able to offer clear advice around the VAT issues facing healthcare federations.

Surgery Developments and Funding

We can advise on the financial aspects of new surgery developments, including the most tax advantageous structure for the ownership of surgeries.

GP Federations and provider companies

We will advise on the practical issues facing GP federations including the implications of using various structures from a risk and tax perspective.

Practice Mergers

We can carry out the appropriate financial due diligence required where two or more practices are considering merging.

Claiming expenses

Maintaining accurate records for claiming work related expenses has never been more important to facilitate the completion of your self-assessment tax return.

Partnership agreements

A thorough review of your partnership agreement if you have one in place. If not, we can assist you with putting one in place.

Company secretarial

We have a dedicated company secretarial team carrying out company administrative tasks such as drafting of minutes, processing dividend certificates, share transactions, filing Annual Returns and advising generally on good practice in the production of company documentation.

Employer solutions

Our aim is to help employers attract, retain and motivate employees, while controlling employment costs and risks against a background of increasing payroll taxes and constantly evolving regulatory burdens. You may need quick, practical advice on questions as they arise in your day to day work, and need someone who can be relied on to keep you up to date with changes in law and practice which affect you as an employer. You may from time to time need more extensive help.


Our outsourcing team carries out back office functions for businesses of all sizes including the production of monthly management accounts, cash flows, forecasts and VAT returns.

GP Superannuation

We can prepare GP partners’ annual superannuation certificates and assess whether there are further amounts payable to NHS England or whether refunds are due.

Contact our team today to discuss how we can help your medical practice.

health matters virtual series: Understanding your NHS Pension and topical issues for GPs

Health matters

The NHS pension can be very valuable, but is also extremely complex. Join us to understand the basics of your NHS pension more clearly and also hear about topical issues and tax traps to avoid.

Register here

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