eQ other sectors
Healthcare
Clearly “Healthcare” covers a multitude of sectors from doctors and dentists to care homes and vets. Our specialist team is headed up by John Hogg, supported by his colleagues John Langlands and David Morrison. The team boast vast experience across all healthcare businesses and has developed strong relationships with the specialist healthcare teams from major lawyers and banks.
The range of services which we offer are wide ranging but include: -
• Payroll service (including RTI)
• Management reporting and benchmarking
• Business structuring
• Succession planning
• Practice management
• Innovative tax planning
• Business development
• Practice acquisition and disposal
Across all service lines, EQ Healthcare are able to offer high level, specialist advice but delivered with the personal attention of a smaller practice. We believe that this manner of delivery makes EQ unique.
Many of our Healthcare clients face common issues, particularly in the current economic climate, others are more specific:
Dentists - Control over costs and maximisation of fee income continue as challenges in dentistry, but at this time, major uncertainty remains over the effectiveness or otherwise of the incorporation of practices and the potential damage this may have on NHS pension funds. In some cases, tax savings may have compromised the ability to enjoy future pension income.
Care Homes - Significant investment in heritable property within the purchase price of a care home demands close attention to the availability of capital allowance claims both in making the purchase and in further redevelopment and expansion. It is estimated that on average around 35% of the price may qualify for valuable tax allowances to be offset against profits earned. Changes in the relevant tax legislation with effect from April 2012 require owners to urgently review both current and historic claims to maximise the position before the opportunity is lost.
Nurseries - Issues in relation to incorporation benefits and capital allowances claims are also relevant in children's nurseries, as is the need to control costs, particularly staff costs, and optimise occupancy levels if continued profitability and growth are to be achieved.
Vets - This continues to be a profitable sector but is facing continuing challenges such as the recruitment of new business owners and the maintenance of profitability on the large animal side. Many practices are revisiting their business models to allow for greater flexibility for new owners with tax efficiency underpining these structures. Strong profitability is of great interest to the corporate purchaser and there is evidence that this is heading north of the border.
EQ Healthcare partner, John Hogg, commented “Healthcare is a strong growth sector for the firm and we are committed to developing our range of services to the benefit of our clients and this is supported by a highly trained team who take a genuine interest in our clients and tailor our service to suit the demands of each business. We believe that we add huge value through our approach”.
To find out more, contact us for a completely free consultation. In the first instance, contact the following members of our team for a confidential discussion on how we can help you.
John Hogg 01382 312100 john.hogg@eqaccountants.co.uk
John Langlands 01382 312100 john.langlands@eqaccountants.co.uk
David Morrison 01382 312100 david.morrison@eqaccountants.co.uk
