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. Tax incentives for charitable giving have long played a crucial role in encouraging individuals and businesses to support philanthropic causes and can also ensure that more money goes…
Headings match the order of Full Self Employment Tax Return pages (SA103F). If you have an income of under £85k, you can claim the total of your expenses with no analysis in box 20 on the Short Self Employment Tax Return pages (SA103S). *Whilst the expenses are similar for associate dentists trading with a limited…
This short guide will help you obtain your tax year-end superannuation certificate, claim the income tax relief on your tax return and help avoid common mistakes. How do I claim tax relief on my self-employed NHS superannuation pension payments? You need to get a copy of your SD86C to share with your accountant or to…
Further reading – article links to government guidance and HMRC internal manuals The Rent-a-Room Scheme
I have been working with a dentist who had worked under a contract of employment (not services like a self-employed associate) with a corporate dental firm. The dentist had never filed a tax return before and thought that as taxes were in the payroll, all tax relief would be taken care of. They didn’t realise…
Your company can provide its directors, secretaries, and employees with tax free health benefits. It’s important to know what ones are taxable and which ones are tax free. The taxable benefits come with an income tax charge for the receiver and a national insurance charge for the employer. There may also be a restriction on…
If you’re working as a self employed dentist, you may be aware that you can set up your own limited company – but why would you want to, and how could it help save you money? You can read our article here which compares self-employment to having a limited company. Here, we show 2 examples…