We’ve been working with a new dental associate customer who has recently moved from a sole trader dentist to a limited company. He has brought his wife into the limited company to take advantage of her lower tax rates. Keeping his and his wife’s dividends and salaries at a rate of £50,000 annually means he…
As a tax adviser and accountant, my main objective is to optimise tax efficiency for my customers. However, there are instances where unexpected opportunities arise that can provide financial benefits through indirect tax-related means, such as the possibility of receiving free childcare as a Dentist. In a conversation with a recently joined dentist, they mentioned…
I speak to many people who ask, “Should I stop child benefit payments because my income is above £50,000?” as I know I’ll have to repay it. This £50,000 isn’t a cliff edge like tax bands. Instead, it tapers off gradually, as we say in the tax world. It stops at £60,000 and is only…
This guide benefits working dentists with children who want to help a family member who isn’t working and cares for their kids to get a free state pension. Your state pension and the amount you will be paid are linked to your National Insurance contributions records. You will need at least ten years of…