GP Accountants

Overhead analysis for gp’s

By analysing your overheads and determining where savings can be made, you can make a big difference to your cash flow. 

Remember, every little helps – by making enough small changes in enough areas of your business, you will make a big difference to your profitability. 

Some examples of overheads facing a GP are rent, utilities, insurance and labour costs. 

Usually, you won’t have much control over these costs. However, by focusing on the multiple smaller costs that you can control, you can make a huge difference in your GP clinic’s finances and accounts. 

Our experts in accounts and financing for GPs can take a look at your overheads and analyse the best opportunities for making savings.

EBITDA monitoring and analysis 

EBITDA stands for: Earnings Before Interest, Taxes, Depreciation, and Amortisation. It is one of the key metrics we use to determine the financial health and true value of a GP. 

Every GP clinic is different. This is why we always ask for 3 years of financial accounts and records at least, sometimes more. We analyse your accounts, cash flow and tax structures whilst also holding in-depth discussions with the business owners and day-to-day managers.

This allows us to determine the true value of your clinic.

Management accounts

Our specialist accountants can manage and process your GP clinic’s management accounts. 

Our team are experts at handling and organising your clinic’s:

• Executive summary
• Profit and loss reports (monthly and YTD)
• Balance sheet
• Cash flow statement
• Monthly aged creditors
• Fully reconciled bank account

The digital process we use to handle your clinic’s management accounts is fully automated, making it secure, quick and easy to use. 

Our specialist GP accountants will ensure your financial records and data is accessible to you in real time when and where you need it.

We are Gold Standard partners with Xero.

Debt advisory and corporate restructuring

Our expert accounting team can help restructure and refinance your GP clinic’s debt to make them more favourable and ease the strain on your cash flow. 

We help the UK’s GPs with:

• Corporate restructuring 
• Debt advisory 
• Crisis cash flow management 

Coupled with the Samera Finance team, we can help raise new finance or refinance your current loans. Our finance team is made up of former banks who specialise in the UK’s healthcare lending sector. If there’s a better deal out there or a better structure within the business, we’ll find it.

IR35 for gp’s

IR35 is intended to tighten the tax process in the UK and may affect the way you or your employees are paid by the clinic. 

If you are unsure how the IR35 changes will affect GPs and their staff, get in contact with us immediately. 

We will perform an IR35 review of your clinic and determine how you will be affected and what changes (if any) need to be made to your payment structure. 

The changes take effect from April 2023 so book a consultation now.

Payroll and pensions

At Samera we use BrightPay payroll software which is an efficient, technologically advanced payroll software.

Our process allows for a quick, easy and secure solution for your GP clinic’s payroll and pension needs. 

The BrightPay software our trained professionals use allows both you and our payroll experts to access the highly secure data and allows access to employer files for all individuals who need it. 

 All you need to do is log into your employer portal at any time, in any place. Log in from any smartphone, tablet device, laptop or computer. After this you are able to:

• View all your employees current and past payslips
• View employee documents
• View real-time reports (employee reports e.g. Pension information, contact details, salary details)
• Share important documents. The app will monitor who has opened and read these documents.
• Approve any personal detail changes of employees.
• Approve or deny any annual leave requests (requested easily through the app as well).
• You and your employees are able to access a real time company-wide calendar.

Making tax digital

We at Samera have been pioneering digital accounts and tax processes for years, it’s nice to see the rest of the country catching up. 

The current accounts and tax regulations surrounding how you record and process your accounts and tax data is changing. 

You will soon have to use government-approved, digital software to manage your finances and keep specific records for 6 years.

We have been using a fully-automated, digital process for years. All of our software is Making Tax Digital compliant and we can ensure your accounts and tax are processed correctly.

Fee review

Are you charging the right amount for your services? Making sure you are setting the right price in your clinic is essential to turning a profit. 

With the price of services rising across the board, patients having less cash to spend and goods and equipment becoming more expensive, should you be charging more as well? 

Does it make more sense for your situation to undercut your competitors? 

Our approach to reviewing your fees is analytical and in-depth. 

Our experts will make sure your services are priced correctly, you’re getting the value you deserve and the profits you’ve earned.

Accounts payable service

Our specialist accountants for GPs use Xero and Wise to create an efficient, streamlined accounts payable service. 

Once we have integrated Xero and Wise with your clinic’s system, our team will ensure all information you hold is correct, notify all suppliers about any changes to the process or contact details, merge any duplicates and perform a consolidation (or tidy-up) of your records. 

All you need to do is upload your invoices, credit notes and statements to Hubdoc, we will do the rest. 

We will review, categorise, publish and file all of your documents. We will reconcile your accounts payable with supplier statements, allowing us to identify any missing information or mistakes. 

We will present you with all of the unpaid invoices and, once you have approved them, they will be paid as a batch payment by Xero and Wise.