This is a guide to help dentists understand how the tax system can help you increase the size of your donation and obtain tax relief for yourself. Tax incentives for charitable giving have long played a crucial role in encouraging individuals and businesses to support philanthropic causes and can also ensure that more money goes…
I have been working with a dentist who had worked under a contract of employment (not services like a self-employed associate) with a corporate dental firm. The dentist had never filed a tax return before and thought that as taxes were in the payroll, all tax relief would be taken care of. They didn’t realise…
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…
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…