Incorporation of a medical consultant

Incorporation of a medical consultant

Didn't find your answer?

Client works providing medical eximanation reports for the police, gets paid per report and also a retainer each month. They do also provide some reports for hospitals etc if required. All currently under self assessment as a sole trader.

I can see no reason why they can't incorporate after doing research on the web. Do any of you know any different?

Also, how about a gp who provides out of hours medical cover on a fixed fee basis?

Many thanks in advance for your help.

Replies (4)

Please login or register to join the discussion.

avatar
By ianw33
01st Jul 2010 16:11

Incorporation

Why not value the goodwill @ some ridiculous figure, credit the director's loan account and advise hime to live off tax free income for a few years.

Thanks (0)
avatar
By Toxic2010
01st Jul 2010 16:28

Question

Well, I think there is a problem in getting a GP incorporated because of NHS pension schemes... Not quite sure but I know this is a hurdle in getting a GP incorporated.

Regarding medico-legal reporting, business can be incorporated and I can see any problems in that however if personal injury case goes to court, court ask who has provided medical examination reports and what is their qualification. This could be an area where you can incorporate such a business but still keep consultants name as business name or atleast mention on all company correspondance.

 

I think comments on Goodwill have come out of the blue and were not part of you question.

Thanks (0)
avatar
By ianw33
01st Jul 2010 17:18

sorry - wrong end of stick!

Thanks (0)
avatar
By dbowleracca
01st Jul 2010 22:09

Thank you for your help
I am not aiming for goodwill, although I so know of someone who successfully agreed a value of 500k for a barley street practice sole practitioner!

I'm thinking more of the contractual nature of it, I know that you can incorporate gp practices but the nhs pension is more tricky and many primary care trusts don't like it and refuse to pay them I'd they incorporate.

Spoke to acca helpline and I going to proceed if the client confirms with their customers there are no issues. Tax savings are between 30 and 40k a year so it's worth it!

Thanks (0)