The Spring Statement, delivered by Chancellor Rachel Reeves, didn’t introduce new tax increases but focused on tighter HMRC enforcement, aiming to raise £2.2bn. Here’s what dentists need to know: 1. HMRC is Cracking Down on Tax Compliance Whilst we haven’t seen a massive number of HMRC enquiries into our dentist’s taxes in recent years, we…
National Insurance Contributions (NICs) Changes From 6 April 2025, the following changes to employer NICs will take effect: Due to the increase in the Employment Allowance, some smaller businesses will pay less Employers National Insurance next year For example, if you you will have no Employer’s NICs to pay. Example: Employee Annual Salary: £24,000 NICs…
With the tax year ending on April 5th, now is the crucial time for dental professionals to take action to maximise their tax savings and plan effectively for the new tax year. Contribute to a pension Contributing to a pension is a tax-efficient strategy as you get immediate tax relief on the contributions, For Self…
Understanding whether Company Pension Contributions are Tax Deductible for Family Members can be an excellent way for company owners to save for retirement while reducing corporation tax—but only if done correctly. A customer recently asked us whether a £60,000 and £40,000 pension contribution for himself and his wife, the directors, would be fully deductible. The…
Understanding VAT Facial Aesthetics Has your facial aesthetics business temporarily exceeded the £90,000 VAT threshold? Perhaps due to a successful promotion or temporarily taking on another practitioner’s clients? If so, you may not need to register for VAT facial aesthetics. The “Exception to Registration” Option HMRC allows businesses that temporarily exceed the threshold to apply…