Accountants Cheltenham | Tax Accountants

Medical Accounting

Our specialist medical division is led by Simon Dudfield. Simon and his team have a wealth of experience in advising medical practices, GPs and consultants. You can take advantage of our expertise including a full range of accounting, taxation and business advisory services designed specifically for medical practices and practitioners.

Specialist Medical Division

When it comes to accounting, the medical sector is unlike any other business or profession. Consider the following that need special attention:

surgery financing and development
NHS and private pensions
NHS and non-NHS Income structure
dispensing accounting and VAT
Primary Care Networks
practice mergers
personal expense claims
goodwill regulations

We provide pro-active advice as all of these can impact directly on the profitability of a practice together with the personal finances of the partners.

Even if you are not in practice we can also help Primary Care Networks, Salaried GPs, Consultants, Registrars and other employed members of the medical profession.

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Improving financial performance and profitability

We recognise the value and contribution provided by practice managers, business managers and partners. We work closely with them to build a more efficient and profitable practice, whilst easing the pressure upon the principals.

As members of the Association of Independent Specialist Medical Accountants, AISMA, we have access to powerful nationwide and regional statistical information. This enables us to benchmark your practice and provide you with focused advice on improving financial performance.

Through our experience in medical accounting we can identify tax saving and planning opportunities so that you can build a stronger, healthier practice. We appreciate the time pressures involved in running a practice so our advice will be concise, pertinent and effective.

At your convenience

We will work around your schedule and make ourselves available for appointments when it is convenient to you, responding promptly and personally to any query you may have.

Cost effectiveness

Because we are an independent specialist firm, our services are competitive, and we will be pleased to agree fees in advance.

Our services are not just for Doctors in practice

If you are a Consultant, Salaried GP, Registrar or other employed member of the medical profession you can also benefit from our specialist personal tax service. We can:

prepare your annual tax returns
advise on claims and planning opportunities
prepare type 2 certificates of pensionable income

Specialist advice need not be expensive. At Randall & Payne’s specialist medical division our systems enable us to deal with your affairs efficiently and cost-effectively. We are pleased to agree fees in advance, so there are no hidden surprises.

For further information or a free initial consultation please contact our specialist medical division director: Simon Dudfield.

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Our specialist Medical accountancy and tax services include:

Taxation
- tax planning to minimise liabilities
- partnership and personal returns

Pensions
- planning for pension annual allowances and lifetime allowances
- Annual Certificates of Pensionable Profits
- estimates of pensionable profits

Partnership Matters
- advice on partnership agreements
- advice on partnership changes and disputes
- optimising profit allocation
Accountancy
- timely and efficient accounts preparation
- benchmarking your financial performance
- providing an early indication of tax and superannuation contributions based on the accounts
Management Accounts and Budgeting
- preparation and interpretation of management accounts and budgets
- drawings budgets

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Practice Performance Review
- review of your financial position and statistical analysis and comparisons
Practice Financing
- practice and surgery financial structure

IT Systems
- selection and implementation of appropriate financial reporting systems
Practice Management
- practice development opportunities advice
- advising on practice mergers
VAT Planning
- for dispensing practices
- new surgery developments
- for primary care networks
Retirement Planning
- tax-efficient pension planning
- planning for final pay controls
- planning for Lifetime Allowances

Testimonials

It’s the first time we have met Ethan and I was impressed by his professionalism, as well as being such a nice guy!

Ethan King came to visit us to get some queries answered regarding our accounts and speed up the process. It’s good for us to meet the staff who are assisting with the production of our accounts and he enjoyed getting out of the office and getting more of a feel for what we do.

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Jamie Underwood, Director

Once in a while people go above and beyond and we often don’t take enough time to call it out when it happens.

I’d like to say a big thank you to Shaun Pegler and the team at Randall & Payne for always being there and for the invaluable support they give to me and the Applied Change team. They regularly go above and beyond and recently have delivered quickest turn round in year-end accounts so far, including an R&D tax credit. In my case, they haven’t just talked about clients’ success they have actually delivered it, time and time again and in all areas of finance, from tax to payroll to year-end and now book-keeping too. Thank you all and looking forward to continuing to raise the bar together!

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Mark Vincent, Director

The perception that working with larger accountants would be expensive and lacking in personal service could not be further from the truth.

Payroll, and getting it right for our employees is hugely important to us and Randall & Payne’s sleek processes and refreshing professionalism made this happen effortlessly. From the ease of uploading data into the portal to Naomi taking that extra care to call rather than emailing queries, has quickly built up the trust and confidence that we have made the right choice. Also, being all encompassing we can talk to a specialist for the right advice when needed and their repeated professionalism affirms Randall & Payne’s commitment to excellent client service.

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Natalie Little, Commercial Director

A big thanks to Will and the team"

Randall & Payne produced cashflow forecasts based on our accounts and projected income that were used by the bank to approve a business loan. This will enable us to add to our portfolio of properties within the company and expand the services we can offer. A big thanks to Will and the team.

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Dr Liam Gilby, Chief Financial Officer

As we look to the future, we are happy in the knowledge that Randall & Payne will be working with us"

Randall & Payne have been our accountants, auditors and financial advisors for well over 25 years and continue to be a trusted partner. They act quickly and efficiently, covering all aspects of the fiscal side of our business, including administering our payroll, looking after our tax affairs, year-end accounting and financial planning. As we look to the future, we are happy in the knowledge that Randall & Payne will be working with us to face the challenges ahead.

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Andrew Growcoot

The firm is excellent across the spectrum"

I have been a client of Randall & Payne’s for many years now, both for personal and company accounting services, and I cannot fault them. The firm is excellent across the spectrum, from business leadership coaching and financial planning to practical tax advice. I feel I know the advisers personally now and am always met with the same level of professionalism and friendliness. Even when I feel I may be asking very ‘simple’ questions, they still make me feel valued.

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Bridgette Smith

The advice and support we have received has been first class"

Randall & Payne LLP has provided audit and accountancy services to us for more than 12 years, and I would not hesitate in recommending the firm to others. The partners and staff are professionals to their fingertips, and the advice and support we have received has been first class. They have an interest in, and a commitment to, our organisation that is genuine and we see them, really, as a part of our team.

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Paul N. Rossi

Successfully executed the challenge of auditing and filing our statutory accounts in a very short time frame from appointment"

Randall & Payne have been efficient and proactive, particularly in meeting deadlines and their added value support on commercial issues. They strike just the right balance between being a flexible, easy to deal with local firm yet having all the key strengths, attributes and rigour necessary to support a company of our size and continued rapid growth. I am particularly indebted to the Audit team who committed to and successfully executed the challenge of auditing and filing our statutory accounts in a very short time frame from appointment. A tremendous achievement in a very professional manner.

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Steve Chaplin

They’ve worked extremely efficiently and diligently in filing our accounts, supporting the transition we’ve made"

Over the past three years, we’ve built a very strong relationship with Randall & Payne and they’ve worked extremely efficiently and diligently in filing our accounts, supporting the transition we’ve made from a small to well-established business. They have also been instrumental in educating our business on R&D tax credits, their attention to detail and guidance through this process has resulted in consistent successful outcomes.

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Nick Woodrow

With the team at Randall & Payne behind us, we can get on with doing what we do best – running our business"

Officeworx Ltd have been using the services of Randall & Payne for 25 years. In this time, they have supported us with everything from our standard year-end accountancy through to business advice, consultancy, acquisitions and mergers. They have experts for every requirement and offer a wide range of services. With the team at Randall & Payne behind us, we can get on with doing what we do best – running our business.

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Paul Berry

The Partners and team at Randall & Payne simply gave us what we needed to turn our plans into reality"

The Partners and team at Randall & Payne simply gave us what we needed to turn our plans into reality. We are excited about the future and are already working with them on the next three-year plan.

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James Clutterbuck, Managing Director

Meet Our Team

Alice Prout

MAAT

Accounts

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Rosie Harper

Accounts

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Simon Dudfield

BA FCA

Director

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Karen Barnes

MAAT

Accounts

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Alison Hunt

MAAT

Accounts

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Jo Horton

ACCA

Accounts Manager

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Josie Boughton

Accounts

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Andy Sweet

BA FCCA

Accounts Manager

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Shaun Pegler

ACCA FMAAT

Client Director

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Tracy Thomas

Accounts

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