This is a guide to help dentists understand how the tax system can help you increase the size of your donation and obtain tax relief for yourself. Who can I donate to? You can donate to anyone. However, it will only be a payment to a gift-registered charity or Community Amateur Sports Club (CASC) that…
Further reading – article links to government guidance and HMRC internal manuals The Rent-a-Room Scheme
Updated: 24-11-2022 for Autumn Statement Encouraging electric car take-up The last few years have seen dramatic changes in the development of cars. Diesel cars are now known to be bad for air quality. There’s been a lot of negative press coverage, and the tax rates are set to rise for fossil fuel company cars. Sales…
On 17 October 2022, the Chancellor, Jeremy Hunt, known to many dentists as his time as the health secretary, made a fiscal statement reversing almost all tax measures announced at the Mini-budget on 23 September 2022, other than those that have already been legislated. National insurance and stamp duty cuts will remain, as does the…
Criteria for dentists to claim for a tax-deductible party? This tax relief does not apply to self-employed associate dentists operating as sole traders or partnerships without employees. This tax relief can apply to associate dentists with company directors’ secretaries who are considered employees. This tax relief can apply to practice owners operating as sole traders…
If you’re looking to manage your existing practice or set up a squat practice, Dentally and Xero software together is a great cloud solution. Dentally software 100% based in the cloud Dentally is a cloud based dental practice management software that integrates seamlessly with Xero cloud accounting software. With your dental and accounting systems in the…
With an example of the 130% super deduction, we explain what a super deduction is and how dentists can take advantage of this new form of tax saving. We also go on to explain with a further example a surprising result after the super deduction ends for any dental companies with profits between £50,000 and…
As an associate dentist, you will need to choose between being self-employed and forming a limited company. No tax or national insurance is deducted from your payments, so you have to arrange all of your own finances to pay the right amount of right tax. There are a number of ways you can do this,…