Dividend allowance In addition to your tax free personal allowance, you get an annual tax free dividend allowance of £2,000. By gifting some of your company shares to your spouse, they can also have up to £2,000 of dividends tax free every tax year. Provided your spouse has no other reason to complete a tax…
The childcare voucher scheme is a tax-free payment for your childcare costs made by your employer. If you enter into an employment salary sacrifice arrangement you’ll save tax and national insurance. In addition, your employer will not have to pay their national insurance contributions on the part you sacrifice. Some employers pass on some or all of…
We know dentists love to be tax efficient, but we are amazed at how many have never heard of Relevant Life Cover. Having a Relevant Life Plan will give you peace of mind knowing your loved ones are provided for should anything happen to you. They can be used as an alternative to life assurance…
Updated 26 Aug 2021 In this guide to Associate Dentist Expenses, I will detail the costs that can be claimed as an associate dentist and some of the intricacies of the tax system. I’ll cover the differences between the expenses a limited company and self-employed associate dentists can claim. The expenses you can claim get…
Following on from the government’s announcement last week that the sale of new diesel and petrol cars will be banned from 2040, we take a look at the rules for company cars and how they are changing. When a company provides a car for use by an employee, the employee pays tax and the employer…
If you started a company in 2017-2018 and want to find out how much to set aside for your taxes, this simple profits matrix should allow you to budget for your upcoming tax payments. Watch out for the first personal tax payments due in January 2019. The first payment of income tax is…
If you’re a director of a limited company and you do some work at home, the company can pay you rent for your home office. Work can include time spent doing CPD. The benefit of doing this is you can take money from the company with little or no tax charge: The company will get…
What is the Marriage Allowance and who can get it? You can receive or transfer 10’% of your tax-free allowance to or from your spouse or civil partner each tax year to save tax. You must be married or in a civil partnership, living together as a couple doesn’t count. One of you needs to…