Limited company accounts for doctors
We prepare limited company accounts and tax returns for doctors, consultants, locums and private practice medical professionals. We help with annual accounts, Corporation Tax, Companies House filings, payroll, dividends, director loan accounts, IR35 income and Self Assessment.
A doctor’s limited company needs more than year-end accounts.
A medical company may receive private practice income, medico-legal fees, consultancy income, locum contract income or income affected by IR35. The accounts need to connect with Corporation Tax, payroll, dividends, director loan account records and the director’s personal tax return.
Accounts should show the correct profit and tax position.
We review income, expenses, payroll, dividends, director drawings, capital items and tax adjustments before preparing the Corporation Tax return.
The company position and personal tax position must match.
Salary, dividends, benefits, director loan account movements and Self Assessment entries should be consistent with the company records.
Inside IR35 income paid to a company needs careful handling.
Where PAYE has already been deducted by a fee-payer, the accounts and director tax position should be reviewed to avoid double counting.
We move from records to accounts, tax filings and director tax planning.
Limited company compliance for doctors usually involves more than Companies House accounts. We review the tax treatment, shareholder payments, payroll position and personal tax link before filings are submitted.
Company activity
Private practice, consultancy, medico-legal work, locum contracts, clinic income or investment activity.
Records
Bank statements, invoices, expenses, payroll, VAT, software data and Companies House details.
Accounts
Profit and loss, balance sheet, tax adjustments, director loan account and dividend position.
Tax filings
Corporation Tax, company accounts, VAT returns, PAYE, confirmation statement and Self Assessment links.
Planning
Salary, dividends, pension, future tax payments, IR35 risk, cash extraction and HMRC compliance.
Company accounts and tax support for doctors using limited companies.
We can provide annual compliance, company tax returns, payroll, VAT, dividend paperwork, director loan account review, IR35 support and personal tax return coordination.
Company accounts and Corporation Tax
Annual accounts, Corporation Tax returns, tax computations and Companies House filings for doctor-owned companies.
Start enquiry →Private practice company accounts
Accounts for consultants and doctors using a company for private clinic income, medico-legal work or consultancy fees.
Private practice →Payroll and director salary
PAYE registration, director payroll, employee payroll, salary planning and year-end payroll reporting.
Start enquiry →Dividends and director loan accounts
Dividend paperwork, profit availability, shareholder records, drawings review and director loan account tax issues.
Start enquiry →IR35 and inside IR35 company income
Review of locum or consultancy income paid into a company, including deemed employment income and accounts treatment.
IR35 advice →VAT, bookkeeping and HMRC support
Bookkeeping, VAT registration, VAT returns, MTD records, HMRC letters, late filings and compliance support.
HMRC support →The company accounts and the doctor’s personal tax return should tell the same story.
Many company tax problems arise because company accounts, payroll, dividends, director loan records and personal tax returns are prepared separately. We review the position together so that salary, dividends, benefits, loans and Self Assessment entries are consistent.
This is especially important where the company has received inside IR35 income, private practice income, one-off consultancy fees, director drawings, unpaid dividends or HMRC has raised a question.
What we usually need to prepare limited company accounts.
The exact records depend on the company activity, year-end, VAT status, payroll status and whether the company has IR35 or director loan issues.
Company name, registration number, year-end, shareholder details and Companies House authentication information where needed.
Business bank statements, payment processor reports, invoices and income records for the accounting period.
Expense invoices, receipts, mileage, professional fees, insurance, software, equipment and course costs with supporting records.
Payroll records, PAYE references, VAT returns, bookkeeping software access and MTD records where applicable.
Dividend records, director loan account movements, benefits, pension payments and Self Assessment details where relevant.
A clear process for company accounts, Corporation Tax and director tax review.
We start by confirming the company activity and deadlines, then request records, prepare accounts, review tax points and file the agreed returns.
Scope and deadline check
We confirm the company year-end, filing deadlines, tax references, activity and whether any HMRC or Companies House issues exist.
Records request
We request bank records, invoices, expenses, payroll, VAT, dividends, loan account and bookkeeping information.
Accounts and tax preparation
We prepare the accounts, Corporation Tax computation, tax return and identify director or company tax issues.
Approval and filing
Once approved, we file the accounts and tax returns and confirm tax payments, deadlines and next-year planning points.
Common questions from doctors using limited companies.
These answers are general guidance only. The correct position depends on the company activity, records, tax year and director position.
Do doctors need a limited company for private practice?
Not always. A company may be useful in some cases, but it depends on income level, commercial risks, pension position, administrative cost, IR35 risk and how profits will be extracted.
Can you prepare both company accounts and the director’s tax return?
Yes. This is often sensible because salary, dividends, benefits and director loan account movements need to match the personal tax return position.
What if my company received inside IR35 income?
The accounts need careful review where PAYE has already been deducted before the money reached the company. The company and personal tax position should be reconciled to avoid incorrect reporting.
Can you help if my company accounts are late?
Yes. We can review the deadline position, prepare the accounts where records are available and advise on late filing penalties or HMRC correspondence.
Need accounts prepared for a doctor-owned limited company?
Send a short summary of your company activity, year-end, records available and any approaching deadlines. We will confirm the likely scope, records needed and next step.