This guide is written for doctors, dentists, specialists and private clinics. Rules change regularly and individual circumstances vary, so speak to a Tsquared accountant before acting. We regularly help clients with gesy (ghs) income reconciliation, self-employed tax and provisional tax, practice payroll.
Key points
- Partnership agreement
- Cost-sharing company
- Separate tax returns
- Exit provisions
Challenges you face, solutions we provide
Challenge: GESY (GHS) income reconciliation
Our solution: Monthly reconciliations of HIO statements against your patient records
Challenge: Self-employed tax and provisional tax
Our solution: Provisional tax, Social Insurance and GHS calculated and filed on time
Challenge: Practice payroll
Our solution: Payroll for nurses, receptionists and associate doctors run monthly
Challenge: Medical equipment allowances
Our solution: Capital allowances claimed on scanners, chairs and IT equipment
Challenge: Sole trader vs. company
Our solution: Sole-trader vs. company modelling with real numbers before you incorporate
Frequently asked questions
- Medical partnerships: what's the short answer?
- Doctors sharing premises in Cyprus can form a partnership or service company, with clear profit-sharing and cost allocation agreed in writing.
- Can Tsquared help with medical partnerships?
- Yes. We advise doctors, dentists, specialists and private clinics in Cyprus on medical partnerships and handle the filings for you.