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…
Facial Aesthetics VAT Planning for Dentists Here’s a helpful VAT planning tip for dentists who run a separate facial aesthetics business providing purely cosmetic treatments alongside their dentistry. If you haven’t registered for VAT yet and are concerned that registering and paying 20% VAT on your income could affect the fees you charge your patients…
Paying your taxes after the due date is possible by setting up an “Extra Time to Pay HMRC” arrangement for your next Self Assessment, Corporation Tax, VAT, or PAYE tax payment. HMRC supports individuals and businesses struggling to meet their tax obligations by encouraging the use of its online tool to set up an instalment…