Member Article

BW Medical Accountants reaches 106 GP practice milestone and recruits four new staff

Specialist advisers to the healthcare sector at BW Medical Accountants are celebrating a milestone of signing up 106 GP practices, four years after the company launched and, since powering through the 100 practice barrier, positioning themselves as one of the UK’s leading medical accountancy firms.

BW Medical Accountants, based at Gosforth Business Park alongside sister company independent wealth managers Blackett Walker, now provides 106 GP practices across the UK with specialist medical accountancy advice and to cap off an excellent period recently won New Firm of the Year at the North East Accountancy Awards 2017.

The growth in GP practices has been accompanied by steady recruitment with a recent investment in an office refurbishment. Four new members of staff have been brought on this year, taking the full complement to 16. New appointments include Jane Marley, a fully qualified accountant; Ashley Hayes, an NHS administrator; Samantha Irving, a tax technician and Frances Elliot a tax administrator. With plans to expand the team further in the new year.

Keith Taylor Director of Medical Services for BW Medical Accountants said: “This is a great moment in the life of the business which was set up in July 2013. We have become a major player in the delivery of specialist medical financial advice to the healthcare sector. It is a sector that is highly regulated and is going through great change. Given the challenging environment it is gratifying that so many GP practices have signed up to our services to help guide them through.”

The company’s specialist advisors are working with GP practices across the region and beyond in areas including Newcastle, Sunderland, Northumberland, North Tyneside, Middlesbrough with practices further afield in Leicestershire, London, East Yorkshire, Cumbria and Cheshire to name a few.

BW Medical Accountants provides specialist accountancy, tax and NHS Pension advice to 1,200 healthcare professionals including GPs, consultants, hospitals doctors, dentists and GP Federations, across England.

Gloria Middleton, partner and business manager at Westbourne Medical Group in Sunderland said: “We serve 6,300 people in the Sunderland area, and like hundreds of other practice managers up and down the country my time is spread across many issues. As far as I’m concerned it’s recognising the parts where my expertise comes to the fore and conversely understanding the point where I need to take advice.

“Tax law and specifically the IR35 changes that came into force this year are an excellent example of where I and my practice need to take advice from the experts and that’s why we’ve been with BW Medical Accountants since 2013.

“The responsibility has now changed from the individual self-employed or locum GP or healthcare practitioner to the responsibility of the practice itself. In turn this means that the practice and therefore the practice manager and GP partners are exposed to HMRC and could be liable to an unexpected tax bill and possible further financial penalty.

“In my mind consulting with experts will ensure we implement necessary changes in a way that becomes part of the normal day to day running of the practice.”

Jonathan McCutcheon, practice manager at Benfield Park Medical Group, Newcastle, said: “BW Medical Accountants has a good working knowledge of general practice and is keenly aware of the challenges practices face within the changing environment of the NHS.

“We have been very impressed by the way BW Medical continues to deliver the range of services they provide from accounts to tax and NHS Pension advice.”

He added: “We have found practice consultation and engagement from BW Medical specifically helpful to shape the future of the practice.”

The landmark rounds off a period of rapid growth for the medical accountants which as seen the company expand its client base from zero when the firm was launched in 2013 attracting a workforce of the most experienced medical accountants in the North East.

Keith Taylor said: “Healthcare professionals have very specific financial requirements and benefit from expert advice from experienced professionals at every stage of their career, whether they work in the NHS or private sector.

ENDS

About BW Medical Accountants

As leading advisers to the Healthcare sector, BW Medical Accountants provides specialist accountancy, tax and NHS Pension advice to over 1,200 healthcare professionals across England, including over 100 GP Practices.

With a proven track record in all aspects of healthcare finance, the 16-strong team is perfectly placed to support the needs of health professionals from qualification through to retirement. BW provides a personalised service tailored to reflect specific requirements and enables clients to make informed financial decisions.

For more information visit http://www.bw-medical.co.uk/

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