02 Nov You became a doctor to be a doctor, not to run a business.
Whether you’ve had your practice for some time or you are just starting out, helping patients and taking on all the admin that comes with running a business by yourself is a big task; it might even feel impossible at times!
One of our specialisms here at Egan Roberts is acting for businesses in the medical profession so you have more time to focus on what you wanted to do in the first place. However, we do need a little bit of help from you!
Separate your finances
It’s really important that you keep your practice and personal finances separate by having a business bank account.
With Making Tax Digital coming into force soon, you should also consider investing in compliant software now. Read more on those here. We are all Xero Certified Advisors at Egan Roberts but have experience in various different software.
Use your software
Don’t just input invoices and receipts blindly. Use the reports available to have a good idea of how your business is performing; ideally on a monthly basis. We can guide you on the best reports to use and what they mean. If you outsource your bookkeeping, you should still be aware of this.
Why do you need our help?
- We keep up to date with the ever-changing tax laws to ensure you pay the correct amount. You’ll no longer need to worry whether you’ve filled out your tax return correctly!
- We are able to look at the big picture of your business and advise you where you can improve or make savings.
- We can advise you on future plans – whether that be business growth or retirement strategies!