Category

Medical Accounting

Sold sign outside a house

Tax warning for expat doctors selling a home in the UK

By | Medical Accounting | No Comments

Doctors and other professionals who are living overseas and who sell a home in the UK should beware of being caught out by changes to the capital gains tax rules.

The changes, which came into force on 6 April 2015, mean that non-UK residents must pay tax on any increase in the property’s value from that date until the date of the sale, and to submit a capital gains tax return within 30 days of completion.
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Practice manager checking accounts

How much money should we take out of the practice?

By | Medical Accounting | No Comments

Of all the questions that medical accountants are asked, the issue of drawings is by far the most common. That’s perhaps not surprising, as it can be difficult to get the balance just right.

If your drawings are set too high, you risk running out of cash and being unable to pay the bills, or lurching from one crisis to the next. Cashflow problems can bring down even the most profitable practice which is why accountants often use the saying, ‘cash is king’.
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