A big question that needs to be considered as you begin to practice as a private GP is if you should set up a company. As an NHS GP who is delivering private services from NHS premises there are definite advantages to this. There are a lot of factors which need to be considered and each personal circumstance will be different.
You should review advice from the British Medical Association and talk to an accountant to understand the financial implications for you.
All situations will be different so it is important to find out about how setting up a company will impact you and your situation. There will be instances where setting up your own company for your private GP practice will be beneficial but there are things to consider such as how much you forecast you will be billing and what other work you will be doing.
The BMA provides advice for private GPs on topics such as working in private practice, rights and responsibilities, and employment advice. You can learn more about contracts and insurance, which will vary depending on how you choose to set up and run your practice.
Before deciding if you need to set up a company for your private GP practice, you will need to decide if you would like to practice as a single-handed GP/sole trader, an employed salaried private GP or as part of a limited liability partnership (LLP).
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