As a physiotherapist / Dietitian, your primary focus is patient care, but neglecting your financial records could land you in hot water with the Health and Care Professions Council (HCPC). While the HCPC doesn’t routinely check your accounts, poor financial management can trigger a fitness-to-practise (FtP) investigation, damaging your reputation and career.

Here’s how maintaining accurate financial records can save you from regulatory trouble and keep your practice running smoothly.

Why Financial Records Matter for professional therapist?

The HCPC’s Standards of Conduct, Performance and Ethics require registrants to:

• Be honest and trustworthy (Standard 9)
• Avoid fraud, deception, or negligence in financial dealings
• Keep clear records to justify billing and expenses

If a complaint arises, whether from a patient, employer, or HMRC, your financial records could be scrutinised. Common issues that lead to FtP cases include:

Inaccurate invoicing (e.g., overcharging patients or insurers)

• Tax evasion or undeclared income (HMRC investigations can trigger HCPC referrals)
• Fraudulent claims (e.g., false insurance or NHS billing)
• Failure to keep proper records, leading to misunderstandings

3 Ways Proper Financial Records Protect You

1. Evidence for Billing Disputes

If a patient questions your fees or an insurer audits your claims, well-documented invoices, receipts, and treatment logs prove your professionalism. Without them, you risk allegations of dishonesty.

Best Practice:

- Use digital accounting software (e.g., QuickBooks, FreeAgent) for transparent invoicing.

- Keep client-signed consent forms for private treatments.

- Log treatment dates, durations, and fees in a secure system.

2. Avoid HMRC Investigations (Which Can Lead to HCPC Referrals)

HMRC can audit self-employed physios and private practices. If discrepancies are found, they may report you to the HCPC for professional misconduct, even if it was an honest mistake.

Best Practice:

• Separate business & personal accounts (mixing funds looks suspicious).
• Keep 6 years of records (HMRC’s requirement).
• Declare all income, including cash payments.

3. Protect Against Fraud Allegations

Fraudulent claims (even accidental ones) can destroy your career. A clear audit trail protects you if:

• An employee submits incorrect claims under your name.
• A patient accuses you of overcharging.
• An NHS or private insurer questions your billing.

Best Practice:

• Implement double-checking systems for insurance claims.
• Store digital copies of receipts and correspondence.
• If subcontracting, ensure all billing is transparent.

What to Do If Facing an FtP Investigation Over Finances?

If the HCPC contacts you about a financial concern:

1. Stay calm & cooperate, delays worsen suspicions.

2. Gather all relevant records (invoices, bank statements, tax returns).

3. Seek legal or accounting advice if needed.

4. Respond professionally show that you take compliance seriously.

Final Thoughts: Better Safe Than Sorry

Most FtP cases involving finances stem from poor record-keeping, not intentional wrongdoing. By maintaining accurate, organised accounts, you:

✔ Reduce audit risks

✔ Protect your reputation

✔ Avoid stressful investigations

Investing in good accounting habits now could save your career later.

 Need Help? 

If you’re a physio, chiro, or dietitian struggling with tax, cash flow, or compliance, book a free consultation with our specialist healthcare accounting team. Let’s take the stress out of your finances—so you can focus on patient care!   

Book 30 minutes free consultation: 

Website: https://taxherapy.com/

Key Takeaways 

✔ Track expenses meticulously—claim every allowable deduction.   

✔ Use bookkeeping software to stay in control.   

✔ Plan for tax early—avoid January panic.   

✔ Get specialist advice—healthcare accounting has unique rules.   

By staying organised and proactive, you can minimise tax, maximise profits, and spend more time doing what you love—helping patients! 

#Physiotherapy #HCPC #FitnessToPractise #FinancialCompliance #PrivatePractice #Dietitian #Chriopractor #Chriopractic