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…
Updated: 24-11-2022 for Autumn Statement Encouraging electric car take-up The last few years have seen dramatic changes in car development. Diesel cars are now known to be bad for air quality. There’s been a lot of negative press coverage, and the tax rates are set to rise for fossil fuel company cars. Sales of new…
Criteria for dentists to claim for a tax-deductible party? With some simple tax planning, it’s easy to incorporate an annual staff event into tax-deductible spending to benefit yourself. You can invite other guests too, including your family, but it must be for the benefit of the staff/employees, not a personal event, e.g. your birthday. The…
There are important differences between associate dentists who are self-employed or company directors. Company directors have to comply with health and safety at work regulations. Self-employed workers do not. Self-employed dentists do not get tax relief on their glasses or eye tests To qualify for a tax deduction expenditure must be WHOLLY and EXCLUSIVELY for…
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…
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…