⚠ Had a baby in the last 5–6 years? Or do you employ someone who has? Run through these quick checks — then download our free fact sheet. ⏰ Time limit — act now Employers can voluntarily correct underpayments at any time with no time limit. But if you need to make a formal legal…
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…
We’ve been working with a new dental associate customer who has recently moved from a sole trader dentist to a limited company. He has brought his wife into the limited company to take advantage of her lower tax rates. Keeping his and his wife’s dividends and salaries at a rate of £50,000 annually means he…
As a tax adviser and accountant, my main objective is to optimise tax efficiency for my customers. However, there are instances where unexpected opportunities arise that can provide financial benefits through indirect tax-related means, such as the possibility of receiving free childcare as a Dentist. In a conversation with a recently joined dentist, they mentioned…
I speak to many people who ask, “Should I stop child benefit payments because my income is above £50,000?” as I know I’ll have to repay it. This £50,000 isn’t a cliff edge like tax bands. Instead, it tapers off gradually, as we say in the tax world. It stops at £60,000 and is only…
This guide benefits working dentists with children who want to help a family member who isn’t working and cares for their kids to get a free state pension. Your state pension and the amount you will be paid are linked to your National Insurance contributions records. You will need at least ten years of…