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doctors & dentists accounts

What are key reporting differences between a GP doctors accounts (assuming dentists have the same rules) and those of any other business? Are the requirements particularly more onerous? For a chinese medicine shop which also provides accupuncture treatment, would this business be treated under the same reporting rules as those applied to a GP practice or just as any other business?


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By vince8
24th Jun 2010 14:44

Reporting rules???

Not sure what you mean. The major problem I find is the habit of netting off. We are told HMRC are taking more of an interest so it would be wise to show all income analysed for each heading, rather than having one total. Presentation to the client is also important, especially if you provide a year end review and National Statistics comparison.

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24th Jun 2010 15:11

The question is in 2 parts:


1. From reading around it seems that there are extra requirements in reporting on GP accounts. But I don't know what these are. Are they just presentational? The following was posted a while back on AWeb:"With the introduction of the new doctors contract in 2004 and the requirement to produce annual superannuation certificates, the preparation of gp accounts needs a certain amount of expertise and experience. If you are approached to act for a gp practice I would suggest forwarding them onto a firm with a specialist department." This "specialist" comment leads me to think there maybe more to producing GP accounts than accounts for a corner shop or hairdresser. There must be lots of accountants out there doing GP accounts who can comment on issues and things to look out for.

2. If there are "special requirements" of a GP accounts do these apply to say a Chiropractor, herbalist or chinese medicine practice? Thanks.





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By vince8
25th Jun 2010 10:16

Get the accounting right

1. Start with something like Iris GP accounts, I have no experience of it but the format is there. If you are starting out with GP's it might help you. It should get the accounts in the correct format so that NHS and non NHS income is recognised. You will need all this to complete the Superannuation certificates correctly and do the accounting of payments made. I think GP's still get their tax relief based on payments made in tax year.

2. Don't see these as anything special.

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