Dentist and Dental Associate Expenses Guide

In this complete guide, we’ll explain everything you need to know about tax relief as a dentist, including what it is, how it works, and the different types of help available. We’ll also share expert tips and tricks to help you get your expenses back and make the most of your tax relief options.

Understanding the Importance of Tax Relief for Dentists

If you’re a dentist or dental business owner in the UK, it’s crucial to know about tax relief as it can help you save money and improve your tax strategy. Tax relief means getting deductions and allowances from HM Revenue and Customs (HMRC) to lower your overall tax bill.

One big reason tax relief matters for dental business owners is that it allows you to get money back for expenses related to running your business. This includes things like buying equipment, paying for professional services, and even training your staff. By claiming these expenses as tax deductions, you can reduce your taxable income, pay less in taxes and become more profitable.

Tax relief can also create opportunities for investment and growth in your dental practice. For instance, certain expenses like upgrading your dental equipment or expanding your clinic may qualify for tax relief. This means you can get back a portion of the money you spent through tax deductions, which lets you reinvest in your business without shouldering the entire financial burden.

Furthermore, understanding tax relief will help you navigate complex tax rules and ensure you follow HMRC guidelines. By staying informed about the available tax reliefs and allowances designed specifically for dentists and dental business owners, you can maximize your savings while minimizing the risk of potential penalties or audits.

In a nutshell, tax relief is incredibly important for dental entrepreneurs in the UK. It offers many benefits, such as getting money back for various business expenses, supporting growth and investment, and ensuring compliance with tax rules. By learning about the ins and outs of tax relief and seeking professional guidance when needed, you can navigate the tax landscape like a pro and enhance your financial situation as a dental business owner.

Click here for our article and podcast episode on reducing your tax bill as a dentist.

Action points:

  • Learn about the different types of tax relief available to dental business owners in the UK. You can do this by visiting the HMRC website or speaking with a tax advisor.
  • Identify all of the business expenses that you may be eligible to claim tax relief on. This includes things like equipment purchases, professional fees, and staff training.
  • Keep accurate records of all of your business expenses. This will make it easier to file your tax return and claim tax relief on eligible expenses.
  • Consider using a tax advisor to help you with your tax return and claim tax relief. A tax advisor can help you to ensure that you are claiming all of the tax relief that you are entitled to, and that you are following all of the relevant HMRC guidelines.

Click here to learn more about our Tax Planning for Dentists services.

Common Tax Relief Options Available for Dental Professionals in the UK

If you are employed by or run a dental business in the UK, knowing about the various tax relief options available to you is really important for making your finances better. By taking advantage of these helpful opportunities, you can actually lower the amount of taxes you have to pay and increase your profits. In this section, we’ll look at some common tax relief options that dental professionals can use in the UK.

  1. Capital Allowances: Dental practices often need to spend a lot on equipment and tools. The good news is you can claim capital allowances for these assets, which means you can subtract a part of their cost from your taxable profits. This can save you a lot of money in taxes and help you recover some of your initial investment.
  2. Research and Development (R&D) Relief: If your dental practice is involved in innovative research activities or develops new techniques, you might qualify for R&D relief. This relief lets you claim extra deductions or even get a tax credit for eligible R&D expenses. It’s important to keep detailed records of your research projects and consult a tax professional to make sure you follow the specific rules set by HM Revenue and Customs (HMRC).
  3. Business Expenses: It’s crucial to carefully track and record your business expenses because you can deduct them from your taxable income. Common deductible expenses for dental professionals include things like rent, utilities, staff salaries, professional fees, marketing costs, and insurance payments. Remember to keep receipts and proof to support your claims.
  4. Pension Contributions: Making contributions to a pension plan helps you save for retirement and provides tax relief. Dental entrepreneurs can benefit from tax relief on pension contributions up to certain limits, reducing their overall tax liability while securing their financial future.
    Click here to learn more about Pensions and Payroll for Dentists.
  5. Annual Investment Allowance (AIA): The AIA allows dental entrepreneurs to claim a generous deduction for qualifying capital expenditures, such as renovations, building improvements, or equipment purchases. The current AIA limit is £1 million, offering significant opportunities for tax relief on eligible investments.
  6. Employee Benefits: Providing employee benefits like healthcare, dental insurance, and training not only boosts staff morale but also offers tax advantages. Some benefits may be exempt from National Insurance contributions or qualify for tax relief, reducing your overall business taxes.

Remember, tax rules and relief options can be complex and subject to changes in the future, so it’s essential to consult with a qualified tax advisor or accountant who specializes in the dental industry. They can guide you through the intricacies of managing your taxes, ensuring compliance, and maximizing your tax relief opportunities. By staying informed and proactive, you can claim expenses like a pro and enhance the financial performance of your dental business.

Click here to read more about R&D Tax Relief for Dentists.

Action points:

  • Review your business expenses to identify any potential tax deductions. Common deductible expenses for dental professionals include rent, utilities, staff salaries, professional fees, marketing costs, and insurance payments.
  • Keep accurate records of all of your business expenses. This will make it easier to file your tax return and claim tax deductions on eligible expenses.
  • Consider setting up a pension plan and making contributions. Pension contributions can help you save for retirement and provide tax relief.
  • Review your employee benefits to identify any that may be exempt from National Insurance contributions or qualify for tax relief. Providing employee benefits can boost staff morale and reduce your overall business taxes.
  • Consult with a qualified tax advisor or accountant who specializes in the dental industry like Samera. They can help you to claim all of the tax relief that you are entitled to, and to ensure that you are following all of the relevant HMRC guidelines.

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Did You Know?


  1. Dental Practice Expenses: Dentists in the UK can claim tax relief on allowable business expenses. These expenses can include rent, utilities, staff salaries, and other costs associated with running a dental practice.
    Source: HM Revenue & Customs (HMRC)
  1. Capital Allowances: Dentists can claim capital allowances on dental equipment and fixtures, such as chairs, X-ray machines, and dental instruments. These allowances allow for the deduction of the cost of these assets over time.
    Source: HMRC – Capital allowances
  1. Research and Development Tax Credits: Dentists involved in research and development activities can benefit from tax credits to incentivize innovation. This can help reduce the financial burden of investing in new treatments or technologies.
    Source: HMRC – Research and Development (R&D) tax relief
  1. Mileage and Travel Expenses: Dentists can claim tax relief for travel expenses related to their profession, such as attending conferences, visiting patients at different locations, or traveling to training courses.
    Source: HMRC – Travel and subsistence expenses for employees
  1. Student Loan Repayments: Many dentists in the UK may have student loans from their education. The repayment thresholds and rates are linked to income, providing some tax relief by ensuring that repayments are manageable.
    Source: Student Loan Repayment – GOV.UK
  1. National Insurance Contributions (NICs): Dentists may benefit from reduced NICs under the Class 4 NICs scheme, which is based on their income from self-employment.
    Source: HMRC – National Insurance for self-employed people
  1. Pension Contributions: Dentists can receive tax relief on their pension contributions. Contributions to a registered pension scheme are eligible for tax relief, making it an attractive way to save for retirement.
    Source: HMRC – Pension Tax Relief
  1. Childcare Vouchers and Tax-Free Childcare: Dentists with children may benefit from tax relief schemes that help cover the cost of childcare. These include childcare vouchers and tax-free childcare accounts.
    Source: Childcare Choices – GOV.UK

Identifying Eligible Expenses for Tax Relief in Dental Practices

When it comes to running a dental practice in the UK, knowing which expenses qualify for tax relief is crucial for saving money on your taxes. Understanding which costs can be claimed can help you get back a significant portion of your business expenses and reduce your overall tax bill.

To start, it’s important to know that eligible expenses in dental practices can vary depending on the nature of your business and the specific services you provide. However, there are some common expenses that are often eligible for tax relief:

  1. Dental equipment and tools: Any expenses incurred for buying, repairing, or maintaining dental equipment and tools are usually eligible for tax relief. This includes items like dental chairs, X-ray machines, dental drills, and sterilization equipment.
  2. Lab fees: Payments made to dental labs for services like crowns, dentures, and orthodontic devices can be claimed as eligible expenses. Keep track of these payments to ensure accurate deductions.
  3. Staff salaries and training: Salaries and wages paid to your dental team, including hygienists, dental nurses, receptionists, and practice managers, qualify for tax relief. Additionally, the costs associated with training your staff can be claimed as an expense.
  4. Facility rent and utilities: If you operate your dental practice from a rented location, the rent you pay can be claimed as an eligible expense. Other utility bills like electricity, water, and heating can also be included.
  5. Professional fees and insurance: Fees paid to professional bodies, regulatory fees, and insurance premiums designed for your dental practice can be claimed for tax relief. Examples include membership fees to dental associations or malpractice insurance costs.
  6. Marketing and advertising: Expenses related to promoting and advertising your dental practice, such as website development, online advertising, printed materials, and signage, can be claimed as eligible expenses.

We have listed below common key expenses you can claim for in your self assessment tax return as a dentist.

  • Travel for business purposes at 45p/mile, and this includes travel to any courses or visiting accountants etc. We would suggest keeping a diary of business travel through the year so that you don’t have to do all of this at once at the year end. You cannot claim mileage to a regular place of work but can claim for travel to other dental practices where this is irregular
  • Alternatively, you may put the cost of your car through your business, along with the costs of repairs, MOTs, servicing and fuel receipts. However, we would be required to remove the non-business usage proportion of these costs. For example, if you estimate that you have used your vehicle for 20% business use and 80% private use, then we would disallow 80% of these costs. The 20% that has been claimed may still be more than the alternative option of claiming mileage at 45p/mile.
    Click to read about buying a car through a limited company.
  • Any other business travel costs such as trains/taxis etc.
  • Training and Course costs that are to ‘update pre-existing knowledge’, such as annual update courses etc. Course costs that enhance your technical knowledge cannot be claimed as a business expense. You have to tread carefully here as we have seen clients get into trouble with HMRC on this aspect.
  • Subscriptions to the BDA, GDC etc.
  • Professional indemnity insurance
  • Legal advice relating to business matters
  • Cleaning/laundry costs
  • Printing, postage and stationery for business purposes
  • Any dental materials purchased
  • Accountancy costs!
  • Any website or marketing costs you might incur
  • A proportion of your telephone bills relating to business use
  • A proportion of your home bills due to having an office at home to administer your business and put accounts records together (the HMRC flat rate is £4/week but this may be more depending on evidence provided)
  • Loupes or other equipment that you will use for the purpose of your business
  • Cost of study texts that you previously purchased as you will refer to these for the purpose of your business
  • In addition, your business could ‘buy’ from you the cost of your personal laptop and printer that you use to administer the business if you have these

The above list isn’t ‘exhaustive’ so please feel free to ask if there is an expense that you have paid and are unsure whether you can claim. There is no additional fee for asking about these.

Remember, maintaining proper records is essential when claiming tax relief. Keep detailed records of all your business expenses, including receipts, invoices, and bank statements, to support your claims.

To ensure you’re maximizing your tax relief, it’s advisable to consult with a qualified accountant or tax advisor who specializes in dental practices. They can help you navigate the complexities of tax regulations, identify additional eligible expenses, and ensure that your claims are accurate and compliant.

By identifying and claiming eligible expenses for tax relief in your dental practice, you can significantly reduce your tax burden and allocate more resources to providing quality dental care and growing your business.

Click here for our webinar on tax saving strategies for dentists.

Action points: 

  • Review your business expenses to identify any potential tax deductions. The list of common eligible expenses provided in the paragraph is a good starting point, but you may be able to claim other expenses as well.
  • Keep accurate records of all of your business expenses. This will make it easier to file your tax return and claim tax deductions on eligible expenses.
  • Consider working with a qualified accountant or tax advisor who specializes in dental practices. They can help you to identify all of the eligible expenses that you can claim, and to ensure that your claims are accurate and compliant.

Step-by-Step Guide to Claiming Back Expenses

Getting money back for your dental business expenses is a crucial part of managing your finances properly. You can make sure you make the most of your tax relief opportunities and get your expenses back like a pro by following these steps:

  • Step 1: Keep Good Records Start by keeping detailed records of all your business expenses. This means keeping invoices, receipts, and any other documents that show what you’ve spent money on. This will help you see a clear picture of your expenses and make it easier to claim them.
  • Step 2: Learn About Eligible Expenses Find out more about the expenses that can be claimed for tax relief. As a dental business owner, these might include things like equipment purchases, dental supplies, lab fees, professional membership fees, utility bills, insurance payments, and even certain travel expenses. Talk to a tax expert or check HMRC guidelines to make sure you’re claiming the right expenses.
  • Step 3: Keep Personal and Business Expenses Separate To claim expenses accurately, it’s important to keep your personal and business expenses separate. This means having separate bank accounts and credit cards for your business. This way, you can easily identify and track your business expenses, making the claiming process less complicated.
  • Step 4: Categorize Your Expenses Organize your expenses into specific categories, like office supplies, professional fees, or equipment purchases. This organization will make the claiming process smoother and provide a clear breakdown of your expenses for tax purposes.
  • Step 5: Consult a tax professional like Samera Dental Accountants to ensure you’re making the most of your tax relief opportunities and claiming expenses correctly. We can provide expert guidance, review your records, and help identify any additional deductions or relief options tailored to your dental business.
  • Step 6: Submit your claim once you’ve gathered all the necessary documentation and consulted with a tax professional, it’s time to submit your claim. This can usually be done through self-assessment tax forms or other relevant forms required by HMRC. Make sure you submit your claim within the specified deadlines to avoid any penalties or delays.

By following this step-by-step guide, you can navigate the process of claiming expenses for your dental business like an expert. Remember, maintaining proper records, identifying eligible expenses, and seeking professional advice are essential to maximize your tax relief and improve your financial management.

Click here for help on Making Tax Digital for Dentists.

Action points:

  • Keep detailed records of all of your business expenses. This includes things like invoices, receipts, and any other documents that show what you’ve spent money on.
  • Learn about the expenses that can be claimed for tax relief. You can do this by talking to a tax expert or checking HMRC guidelines.
  • Keep your personal and business expenses separate. This means having separate bank accounts and credit cards for your business.
  • Categorize your expenses into specific categories. This will make the claiming process smoother and provide a clear breakdown of your expenses for tax purposes.
  • Consult with a tax professional. They can help you to identify all of the eligible expenses that you can claim, and to ensure that your claims are accurate and compliant.
  • Submit your claim within the specified deadlines.

Tips for Keeping Accurate Records and Receipts for Tax Purposes

When you’re a dental business owner in the UK, it’s vital to keep good records and receipts to get your expenses back and make the most of tax relief. This not only helps you follow tax rules but also allows you to take full advantage of deductions and credits that you’re eligible for.

First, set up a system to organize and store your records. You can do this digitally or with physical files, depending on your preference. You can use accounting software or small business apps to make the process easier and reduce the risk of losing important records.

Regularly practice the habit of keeping all receipts related to business expenses. This includes receipts for things like equipment purchases, office supplies, professional memberships, continuing education courses, and any other expenses directly related to running your dental practice. Even seemingly small expenses can add up and lead to significant tax savings.

In addition to receipts, maintain clear and detailed records of your income and expenses. You can do this by using bank statements, invoices, and financial reports. Keep track of any mileage or travel expenses incurred for business purposes, as these can also be tax-deductible.

It’s important to keep personal and business expenses separate to avoid confusion or potential issues during tax time. Having a dedicated business bank account and credit card can help streamline this process and provide a clear distinction between personal and professional finances.

Consider consulting with a tax professional or accountant who specializes in dental businesses. They can offer guidance on tax regulations, ensure accurate record-keeping, and help you identify additional deductions or credits that may apply to your specific situation.

By maintaining accurate records and receipts, you’ll not only simplify the tax filing process but also maximize your tax relief as a dental business owner. Remember, every eligible expense counts, so stay organized and claim your expenses like a pro.

Action points:

  • Set up a system for organizing and storing your records. This could be a digital system, such as using accounting software or small business apps, or a physical system, such as using folders and filing cabinets.
  • Regularly practice the habit of keeping all receipts related to business expenses. This includes receipts for things like equipment purchases, office supplies, professional memberships, continuing education courses, and any other expenses directly related to running your dental practice.
  • Maintain clear and detailed records of your income and expenses. You can do this by using bank statements, invoices, and financial reports. Keep track of any mileage or travel expenses incurred for business purposes, as these can also be tax-deductible.
  • Keep personal and business expenses separate. This means having a dedicated business bank account and credit card.
  • Consult with a tax professional or accountant who specializes in dental businesses. They can offer guidance on tax regulations, ensure accurate record-keeping, and help you identify additional deductions or credits that may apply to your specific situation.

Maximizing Tax Relief Through Capital Allowances and Depreciation

Increasing tax relief through capital allowances and depreciation is an important strategy for dental business owners in the UK. By understanding and using these methods, you can effectively lower your tax bill and keep more of your hard-earned money in your pocket.

Capital allowances refer to tax deductions that can be claimed on the cost of certain assets used in your dental practice. These assets include equipment, machinery, furniture, and even certain building improvements. Instead of deducting the full cost of these assets in the year of purchase, capital allowances allow you to claim a portion of the cost over several years, providing a significant tax benefit.

To maximize your capital allowances, it’s crucial to maintain detailed records of your purchases and their associated costs. This includes invoices, receipts, and any supporting documents that prove the expense is eligible for tax relief. By keeping accurate records, you can ensure that you are claiming the maximum allowable deductions and avoiding any potential issues with HM Revenue and Customs.

Depreciation, on the other hand, refers to the gradual decrease in the value of assets over time. While depreciation is not directly deductible for tax purposes in the UK, it is still an important consideration when assessing the value of your assets and calculating their capital allowances. Understanding the depreciation rates applicable to different assets can help you determine the most advantageous timing for claiming tax relief.

Tax regulations and rules regarding capital allowances and depreciation can be complex, and they are subject to future changes. Therefore, it is highly recommended to consult with a qualified accountant or tax advisor who specializes in dental business taxation. They can provide expert guidance tailored to your specific circumstances, ensuring that you are maximizing your tax relief while remaining compliant with the relevant regulations.

By effectively using capital allowances and depreciation, dental entrepreneurs in the UK can significantly reduce their tax liabilities and allocate more resources to growing their practices. Take the time to educate yourself about these strategies, seek professional advice, and confidently claim your expenses like a pro.

Action point:

  • Learn about the different types of capital allowances that are available to dental businesses in the UK. You can do this by visiting the HMRC website or speaking with a tax advisor.
  • Keep accurate records of all of your business assets and their associated costs. This includes invoices, receipts, and any supporting documents that prove the asset is eligible for tax relief.
  • Understand the depreciation rates applicable to your business assets. This will help you determine the most advantageous timing for claiming tax relief.
  • Consult with a qualified accountant or tax advisor who specializes in dental business taxation. They can provide expert guidance on how to maximize your capital allowances and depreciation deductions while remaining compliant with the relevant regulations.

Exploring Potential Tax Relief Schemes Specific to the Dental Industry

When it comes to getting tax relief for your dental business in the UK, it’s important to look into special programs designed for dental professionals. The government has introduced various tax relief opportunities that can greatly benefit dentists and help reduce their tax bills.

One such program is the Annual Investment Allowance (AIA). With this program, dental business owners can claim tax relief on qualifying capital expenses like equipment purchases, renovations, and practice improvements. The AIA lets you subtract the full cost of these investments from your taxable profits, up to a certain limit, which can boost your cash flow significantly.

Dental professionals can also take advantage of the Research and Development (R&D) tax relief scheme. Many people mistakenly believe that R&D relief is only for scientific or high-tech industries. However, R&D activities in the dental field, such as developing innovative dental treatments, improving dental materials, or implementing advanced imaging technologies, can also qualify for this relief. By claiming R&D tax relief, you can get tax credits or deductions for the expenses incurred during these research and development activities, further reducing your tax rate.

Another tax relief scheme that dental business owners should explore is Capital Allowances. This scheme allows you to claim tax relief on the purchase or renovation of buildings, as well as fixtures and fittings within the premises. Dental practices often incur significant expenses on equipment, furniture, and dental chairs, which are typically eligible for capital allowances. By properly assessing and categorizing these assets, you can claim tax relief on their cost over time, leading to substantial savings for your business.

Finally, the Enhanced Capital Allowances (ECAs) scheme should not be overlooked. ECAs specifically apply to energy-efficient investments, such as energy-saving lighting systems, air conditioning systems, and renewable energy installations. By investing in eco-friendly technologies, dental practices can not only reduce their environmental impact but also benefit from accelerated tax relief through ECAs.

In summary, by exploring and taking advantage of tax relief schemes tailored to the dental industry, you can significantly reduce your tax liabilities and improve your financial position. Be sure to consult with a qualified tax expert or accountant who specializes in dental practices to ensure you are maximizing your tax relief opportunities and staying compliant with the latest regulations.

Action point:

  • Learn about the different tax relief programs available to dental business owners in the UK. This includes the Annual Investment Allowance (AIA), Research and Development (R&D) tax relief scheme, Capital Allowances, and Enhanced Capital Allowances (ECAs).
  • Assess your business expenses to identify any that may qualify for tax relief under these schemes.
  • Keep accurate records of all of your business expenses and assets. This will help you to claim the maximum allowable deductions and avoid any potential issues with HM Revenue and Customs.
  • Consult with a qualified tax expert or accountant who specializes in dental practices. They can provide expert guidance on how to maximize your tax relief opportunities while remaining compliant with the relevant regulations.

Overcoming Common Challenges and Pitfalls when Claiming Tax Relief

Claiming tax relief can be a complicated process, especially for dental business owners in the UK. However, by being aware of common challenges and pitfalls, you can navigate the process with ease and maximize your tax savings.

One common challenge is maintaining accurate and organized records of your business expenses. To ensure you can claim tax relief on eligible expenses, it’s essential to keep precise records, including receipts, invoices, and supporting documents. Implementing a robust accounting system and regularly reviewing and categorizing your expenses can help you stay on top of your records.

Another challenge is understanding the specific tax rules and regulations associated with dental businesses. Tax rules can vary depending on the nature of your business, such as whether you are a sole proprietor, a partnership, or a limited company. Consulting with a qualified accountant who specializes in dental businesses can provide you with expert advice tailored to your specific situation and help you navigate any complexities.

It’s also important to be aware of potential pitfalls when claiming tax relief. One common pitfall is incorrectly categorizing expenses or claiming ineligible expenses. This can result in penalties or even an audit from HM Revenue and Customs. Taking the time to understand the specific tax rules and seeking professional guidance can help you avoid such pitfalls and ensure you are claiming tax relief correctly.

Furthermore, staying up to date with changes in tax regulations and rules is crucial. Tax regulations are subject to regular updates, and staying informed about any changes can help you take advantage of new opportunities for tax relief and avoid potential pitfalls. Subscribing to newsletters or attending relevant courses or webinars can provide you with the latest information and insights.

In conclusion, overcoming common challenges and pitfalls while claiming tax relief requires diligence, organization, and seeking professional advice. By keeping accurate records, understanding the specific tax rules for dental businesses, avoiding common pitfalls, and staying up to date with changes in tax regulations, you can claim tax relief like a pro and maximize your savings as a dental business owner in the UK.

Challenges and how to overcome them:

  • Challenge: Maintaining accurate and organized records of business expenses
    Action: Implement a robust accounting system and regularly review and categorize expenses.
  • Challenge: Understanding the specific tax rules and regulations associated with dental businesses
    Action: Consult with a qualified accountant who specializes in dental businesses.
  • Challenge: Avoiding potential pitfalls when claiming tax relief
    Action: Take the time to understand the specific tax rules and seek professional guidance.
  • Challenge: Staying up to date with changes in tax regulations and rules
    Action: Subscribe to newsletters or attend relevant courses or webinars.

As a dentist, dealing with taxes can be overwhelming, but with the tips and strategies outlined here, you can claim your expenses like a pro. By taking advantage of tax relief opportunities, you can increase your savings and ensure that you are keeping more of your hard-earned money.

Be sure to consult with a tax professional like Samera to ensure you are following all the rules and making the most of available deductions. With this guide, you’ll be well-equipped to navigate the tax landscape and enhance your financial success as a dental entrepreneur in the UK.

Our Expert Opinion

“There are so many business expenses that can be claimed for when trading as a dentist. But the key is to identify what is business and what is personal to ensure you don’t fall foul of HMRC’s requirements. Use this guide as a starting point and then seek expert help to make the right claims.”

Dental Accounts & Tax Specialists

As dental practice owners ourselves, we know what makes a clinic tick. We have been working with dentists for over 20 years to help manage their accounts and tax.

Whether you’re a dental associate, run your own practice or own a dental group and are looking to save time, money and effort on your accounts and tax then we want to hear from you. Our digital platform takes the hassle and the paperwork out of accounts.

To find out more about how you can save time, money and effort on your accounts and tax when you automate your finances with Samera, book a free consultation with one of our accounting team today.

Dental Accounts & Tax: Further Information

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Buying a Car Through Your Limited Company: 4 Things You Need to Know

When your company buys a piece of equipment or a business car, you can deduct part, or all, of the cost from your business’s taxable profits. 

How much of the cost of the purchase you can deduct from your profit is dependent on several factors. The main points to consider are how you finance the purchase, how you use the vehicle and how environmentally friendly the vehicle is. 

Buying a car with a limited company, can be a great way to save on your tax bill. However, it is essential that you understand everything involved before you do. 

These are 4 important points you need to know about purchasing a vehicle through a limited company. 

How have you financed the purchase? 

How you pay for the new business car will affect the tax rate you have to pay on it. 

If your company takes out a loan to purchase the vehicle, or it is purchased on hire-purchase, you will only be able to deduct the interest payments as a business expense. You will not be able to deduct the loan itself as a business expense.  

If you lease a vehicle for use by the company, but you do not buy it outright, you will be able to claim the monthly payments as a business expense. 

Other maintenance costs involved with owning a business car, such as insurance, can be claimed as business expenses for Corporation Tax.

Action Points

  • Determine the financing method for the business car (loan, hire-purchase, or lease).
  • Calculate and deduct interest payments from a loan or hire-purchase as a business expense.
  • Understand that the principal amount of the loan or hire purchase cannot be deducted as a business expense.
  • If leasing, prepare to claim the entire monthly lease payments as a business expense.
  • Keep records of all maintenance costs like insurance, as these can be claimed as business expenses for Corporation Tax.

Will the vehicle be used for purely business purposes? 

If your car is used solely for business-related purposes, you will be allowed to claim VAT back on the purchase. 

If your company vehicle is used for personal purposes outside of the business, this is considered a Benefit-In-Kind (BIK). A benefit-in-kind is anything HMRC considers to be a benefit or a perk on top of your salary. Your business will be taxed on benefits-in-kind.

To reclaim the VAT on your company car you will need to be able to prove to HMRC that the vehicle is not and cannot be used by you or your employees for personal reasons. For example, do you have a company car that is always kept on stand-by at the dental practice for use by the business? That can be considered an exemption. 

HMRC does not consider your normal commute to and from work to be a business use, so you will not be able to claim VAT on your vehicle if it is primarily used for commuting. 

You can also claim back VAT on vehicles which are used as part of your employee’s routine duties. For instance, vehicles used for teaching people how to drive, taxis and vehicles which are primarily loaned in self-drive schemes.

Action Points

  • Assess the vehicle’s usage to ensure it’s strictly for business purposes.
  • Document and maintain proof that the vehicle is not used for personal reasons, to qualify for VAT reclaim.
  • Be aware that personal use of the vehicle, including commuting, makes it subject to Benefit-In-Kind tax.
  • Ensure the vehicle is designated for business-only activities, possibly keeping it on-site to reinforce this.
  • Keep detailed records of the vehicle’s use in employee routine duties to support VAT claims on such usage.

Is your company vehicle environmentally-friendly? 

How much tax you pay on your company vehicle is also dependent on the CO2 emissions it produces and the date on which you bought it. This applies to both the tax rate of any benefits-in-kind and the capital allowances you can claim on the cost of buying the vehicle. 

You can find out more about the difference between different emissions and dates of purchase, and how they affect the capital allowance rate you pay on the .gov.uk website here.

For the most part, the more CO2 emissions produced by your company car, the more tax you will have to pay. 

However, it is important to remember that the criteria also change according to how old your car is. The newer your car is, the greener it will need to be if you want to claim back on tax.

Action Point

  • Evaluate the CO2 emissions of your company vehicle to understand the potential tax implications.
  • Consider the vehicle’s purchase date, as newer cars require lower emissions to qualify for tax benefits.
  • Explore First-Year Allowances for vehicles that meet eco-friendly standards to deduct 100% of the purchase cost.
  • Determine if your vehicle qualifies for the Main Rate pool to claim 18% against taxable profits.
  • Assess if your vehicle falls into the Special Rate band, allowing a 6% claim, aimed at discouraging the purchase of high-emission vehicles.

For instance, this is a table from the Government’s page on business cars: 

Cars bought from April 2021

Description of carWhat you can claim
New and unused, CO2 emissions are 0g/km (or car is electric)First year allowances
New and unused, CO2 emissions are between 1g/km and 50g/kmMain rate allowances
Second hand, CO2 emissions are between 1g/km and 50g/km (or car is electric)Main rate allowances
New or second hand, CO2 emissions are above 50g/kmSpecial rate allowances

Compare this with the rates for cars bought between April 2009 and April 2013:

Cars bought between April 2009 and April 2013

Description of carWhat you can claim
New and unused, CO2 emissions are 110g/km or less (or car is electric)First year allowances
New and unused, CO2 emissions are between 110g/km and 160g/kmMain rate allowances
Second hand, CO2 emissions are 160g/km or less (or car is electric)Main rate allowances
New or second hand, CO2 emissions above 160g/kmSpecial rate allowances

Vehicles which meet the criteria for First-Year Allowances can have 100% of their cost of purchase deducted from the business’s taxable profits. This is intended to encourage British businesses to go green and purchase environmentally-friendly assets. 

The Main Rate pool allows you to claim 18% of the cost of the purchase against your taxable profit. 

The Special Rate band allows you to claim just 6% of the cost of the purchase. This is intended to discourage British businesses from buying environmentally-unfriendly assets. 

You can calculate the tax band for your company car, according to its CO2 emissions, fuel consumption and date of purchase on the gov.uk website here.

Contact us to find out more

How much tax do you need to pay on the fuel for your business car?

If your company owns a business car, you may be required to pay tax on the fuel required. 

Again, how much tax you pay on the fuel will depend on the CO2 emissions and whether it is used for private or solely for business purposes. 

If your business car is only used for business purposes then you will need to be able to prove this to HMRC. This is one of the reasons why it is so important to keep detailed records like submitted travel expenses and mileage reports. You can use these to show HMRC that all of the consumed fuel was used for business purposes, and not personal use. 

If you cannot prove this, or you have indeed used the car (and thus the fuel) for personal reasons, this will be considered a benefit-in-kind. Therefore, you will need to pay tax on the benefit-in-kind fuel usage. 

If you can show HMRC that the vehicle has not been used for anything other than company business, you will not need to pay any additional benefit-in-kind tax. You will also be able to reclaim the full VAT amount on the fuel. 

You will also not have to pay VAT on the fuel usage if the vehicle is used in certain other circumstances. For instance, cars used for business journeys such as those that are part of the employee’s normal routines like a tradesperson travelling to appointments (this does not include your normal commute to work), or one of your associates travelling to a temporary place of work. 

Action Points

  • Assess the CO2 emissions and usage of the business car to determine fuel tax liability.
  • Maintain detailed records, including travel expenses and mileage reports, to substantiate business-only use of fuel.
  • Be prepared to provide HMRC with evidence that the fuel was exclusively used for business purposes to avoid benefit-in-kind tax.
  • Reclaim full VAT on fuel for vehicles proven to be used solely for business activities.
  • Understand the specific circumstances under which VAT on fuel usage is not applicable, such as business journeys excluding regular commutes.

You can find out more about exemptions for tax payments on fuel on the gov.uk website here.

Should you buy a business car via your dental practice? 

So, are you better off purchasing a business car through your limited company or privately? 

Let’s take a look at an example: 

Harry is a dental practice owner who owns a limited company who wants to buy a business car at around £40,000.

Buying the car himself:

Harry can declare a £40,000 dividend from his limited company and use that to purchase a car. Harry has to pay 32.5% as a higher-rate taxpayer. This comes out to £13,000 in income tax he has to pay.

Buying the car via a limited company:

Harry could instead buy the care via his limited company. Since there is no dividend declared, there’s no added income tax. Harry’s capital allowances will also allow him to claim back £7,600 in corporation tax. In the current tax year, the benefits-in-kind tax rate is only 1%, meaning the tax on them will be minimal.

This means that Harry is better off to the tune of £20,600 by purchasing his business car through his limited company. 

Action Points

  • Evaluate the financial benefits of purchasing the car through your dental practice’s limited company versus personal purchase.
  • Consider the tax implications of declaring a £40,000 dividend for personal purchase and the resulting 32.5% income tax.
  • Explore the option of purchasing the car directly through the limited company to avoid dividend tax and capitalize on capital allowances.
  • Calculate potential corporation tax savings and the minimal benefits-in-kind tax rate when purchasing through the company.
  • Assess the overall financial advantage, in Harry’s case, a saving of £20,600, by opting for a company purchase.

Our Expert Opinion

“Buying car through your business is a complex thing. So get the right advice specific to your business and car needs. Do this wrong and you could pay much more tax than needed!”

Further Information on Accounts & Tax

Our team of specialist accountants and tax experts can help manage, process and structure your business’s finances. From management accounts and payroll & pensions to tax planning and cash flow management, we can take care of the full back-office function of your business.

Book a free, no-obligation consultation with one of the team to find out how we can make your accounts & tax easier, quicker and cheaper.

Make sure you never miss any of our articles, webinars, videos or events by following us on Facebook, LinkedIn, YouTube and Instagram.

A Guide to Income Tax and National Insurance

Income Tax

The 2021/2022 tax year begins 6 April 2021 and ends 5 April 2022 and the following will explain how most individuals will have to pay their income tax:

  • 0% on the first £12,570 (personal allowance)
  • 20% on the next £37,700 (basic-rate band)
  • 40% above £50,270 (Higher-rate threshold)

Basic-rate taxpayer explained

Arun earns a salary of £30,000. This is how his income for 2021/2022 can be calculated:

  • 0% on first 12,570 = £0
  • 20% on the next £17,430 = £3,486
  • Total income tax bill = £3,486

Higher-rate taxpayer explained

Arun is a sole trader and had profits of £60,000. This is how his income tax for 2021/22 can be calculated:

0% on first £12,570 = £0

20% on next £37,700 = £7,540

40% on final £9,730 = £3,892

Total income tax bill = £11,432

Read our top 10 tax saving tips here.

Marriage Allowance

Marriage tax allowance allows you to transfer £1,260 of your personal allowance (this is the same amount you can earn tax-free each tax year) to your spouse or civil partner if they earn more than you. It is free to apply for Marriage Allowance. This can reduce your tax bill by £252 every tax year.

In order to benefit from this allowance as a couple, you need to earn less than your partner and have an income of less than £12,570. Your partner’s income has to range between £12,502 and £50,270 for you to be eligible.

You are able to backdate your claim to include any tax year since 5 April 2017 that you were eligible for Marriage Allowance.

In order to register for Marriage Allowance register at: www.gov.uk/marriageallowance

Different incomes and their tax levels

Income between £100,000 and £125,140

If your income exceeds the £100,00, your personal income tax allowance is gradually taken away from you. The more you earn, the less you get for your personal allowance. It is reduced by £1 for every £2 you earn above £100,000. This means that if your income exceeds £125,140 this year, you will have no personal allowance at all.

It is reduced by £1 every £2 you earn after £100,000.

If you are earning over £100,00 this tax will really take its toll on you.

Paying 60% tax

If you are earning a high income of £100,00 or more, the effect is that anyone earning this or higher will face a hefty marginal income tax rate of 60%.

Income over £150,000

Once your income rises above £150,000, you will have to start paying income tax at 45% on most types of your income. This is also known as the additional rate of tax.

You can find out more about how to reduce your tax here.

What income is taxed?

The above tax rates apply to most types on income including:

  • Salaries
  • Pensions
  • Self-employment profits
  • Rental profits
  • Sole traders and partnerships

Many types of income are also subject to national insurance, whereas some types of income are subject to different income tax rates.

Contact us to find out more

Dividends

Many individuals receive dividends from stock market companies or from their own private companies. You may get dividend payments if you own shares in a company. You can earn some of your dividend income tax free each year.

You do not have to pay tax on any dividend income that falls within your personal allowance. This is the amount of income you earn per tax year that is tax free.

You do not have to pay tax on dividends from share in an ISA or any dividends received from a pension. You also get a dividend allowance each year.

You only pay tax on any dividend income above the dividend allowance.

For dividends that are taxable, the tax rates on those dividends are usually lower than other types of income. This is due to the fact that dividends are paid out after companies’ after-tax profits. This essentially means that dividend income is taxed twice.

Dividend tax credits have been abolished since 2016. Therefore, it is no longer necessary to gross up your dividends to calculate your tax. It is now a lot simpler, as all tax calculations now work with cash dividends.

Although that is great news, it also comes with some bad news: new tax rates for cash dividends have been introduced. These new rates are 7.5% higher than the previous ones. However, due to the ‘dividend allowance’, the first £2,000 dividend income you receive is completely tax free. Regardless of income, all taxpayers can benefit from this allowance.

For those receiving dividends, these following tax rates apply:

  • Basic-rate taxpayers: 7.5%
  • Higher-rate taxpayers: 32.5%
  • Additional-rate taxpayers: 38.1%

These rates will always be subject to the highest possible tax rate as dividends are always treated as the top slice of your income.

Click here to read our blog on 10 tax saving tips for vets.

How dividend allowance works

The dividend allowance is available for anyone (regardless of income) who has dividend income. The dividend allowance means that you will not have to pay tax on the first £5,000 of the dividend income. The dividend allowance is not given as an additional standalone tax-free amount of £2,000. 

Instead, it usually uses up some of your basic-rate band of higher-rate band. Dividends aren’t treated as sole income; they are treated as the top addition to your income and is, therefore, taxed at your highest marginal rate. The dividend allowance exempts the bottom £2,000 of that income from tax.

This means that if you have dividend income taxed at both x7.5% and 32.5%, the allowance will exempt some of the income taxed at 7.5%.

The recent changes in dividend tax rates includes an increase that was designed to extract more tax from those company owners who take most of their income as dividends. The main beneficiaries are higher-rate taxpayers and additional-rate taxpayers who receive relatively small amounts of income which is usually accumulated from stock market investments.

Changes in tax laws over the years has meant that if your investments were not stored and sheltered in a pension, an ISA or a capital trust you would have had to pay 25% or 30.6% tax on all dividend income. However, at present, you can receive £2,000 tax free.

Action Points

  • Review your dividend income to determine if it falls within the £2,000 dividend allowance for tax-free treatment.
  • Understand that the dividend allowance consumes part of your basic or higher-rate tax band, rather than acting as a separate tax-free amount.
  • Assess how your dividends are taxed, considering they are added on top of your other income and taxed at your highest marginal rate.
  • If applicable, identify portions of your dividend income that may be taxed at different rates (e.g., 7.5% and 32.5%) and apply the allowance to minimize tax liability.
  • Stay informed about recent changes in dividend tax rates, especially if you are a company owner who receives significant income through dividends.
  • Consider financial planning strategies such as investing in pensions, ISAs, or capital trusts to shelter dividend income from higher tax rates.

Income tax examples

Example 1:

In 2021/22 Brendan has a pension income of £49,270 and dividend income of £6,000.

The first £12,570 of his pension is covered by his personal allowance and the next £36,700 is taxed at 20%.

This leaves him with £1,000 of basic-rate band remaining.

£2,000 of his dividend income is tax free. The first £1,000 uses up what’s left of his basic-rate band (preventing him from paying 7.5% tax), leaving £1,000 of dividend allowance to use in the higher-rate band (preventing him from paying 32.5% tax).

The final £4,000 of dividend income is taxed at the 32.5% higher rate. 10

Example 2:

In 2021/22 Julia has £60,000 of rental income and £3,000 of dividend income. Her rental income uses up her personal allowance and basic-rate band and some of it is taxed at the 40% higher rate.

The first £2,000 of her dividend income is covered by the dividend allowance, leaving £1,000 subject to tax at the 32.5% higher rate.

The dividend allowance does not use up her basic-rate band because none of her dividends fall into the basic-rate band.

Example 3:

In 2021/22 Leon has a £130,000 salary and £50,000 dividend. With this much income his personal allowance is completely withdrawn.

The first £2,000 of his dividend income is covered by the dividend allowance, leaving £18,000 taxed at the 32.5% higher rate. Along with his salary this takes Leon up to the £150,000 additional rate threshold.

The final £30,000 of his dividend income is taxed at 38.1%.

Note, Leon has dividend income taxed at both the higher rate and additional rate. The dividend allowance reduces the amount of his dividend income taxed at the 32.5% higher rate.

Example 4:

In 2021/22 Martin has a £100,000 salary, £50,000 of rental income and £50,000 of dividend income. With this much income his personal allowance is completely withdrawn.

His salary and rental income take him up to the £150,000 additional rate threshold. The first £2,000 of his dividend income is covered by the dividend allowance, leaving £48,000 taxed at the 38.1% additional rate. The dividend allowance reduces the amount of his dividend income taxed at the additional rate.

UK tax on foreign dividends

Buying into shares worldwide is very common these days, particularly within US companies. This impacts your dividend income as these foreign dividends are often subject to withholding tax.

Usually, the overseas company will deduct tax before actually paying you the dividend. It also works in your favour that the UK has double tax treaties with many countries overseas that reduces the amount of payable foreign tax, this is usually between 10% and 15%.

The dividend withholding tax rate in the US is normally 30% but due to the double tax agreement between the UK and US, the amount of withholding tax can now be reduced to 15%. This can be done by completing form W-8BEN, issued by the US Internal Revenue Service (IRS). In many cases, mostly with online investment, stockbrokers will handle these forms for you on your behalf to ensure a smooth process for you.

This double tax agreement also provides a specific exemption for pension schemes. This means that US dividends can be received tax-free if the shares are held inside a pension scheme. If your overseas shares are held outside a pension scheme (e.g., SIPP) or an ISA, your income from your overseas dividends will be subject to UK income tax. The double tax agreement does not recognise ISAs. ISA investors will still be subject to the 15% withholding tax.

You may be able to claim Foreign Tax Credit Relief when you submit your tax return. This allows the overseas tax paid to be deducted from the owed amount of UK tax. However, the amount deducted cannot exceed the UK tax payable on the income.

Contact us to find out more

Interest Income

Personal Savings Allowance

Your Personal Savings Allowance is provided at a 0% tax rate for up to £1,000 of your interest income if you are a basic-rate taxpayer and up to £500 if you are a higher-rate taxpayer. The more you earn, the more your personal saving allowance decreases. Additional rate taxpayers do not receive this allowance.

The amount of income that falls within your savings allowance will still count towards your basic-rate or higher-rate limit and can, therefore, affect the level of savings allowance you are entitled to and the rate of tax payable on any savings income you receive in excess of this allowance.

The starting rate band

There is a 0% starting rate for up to £5,000 of interest income. However, in most cases only those who are on low incomes can use it. You are only able to benefit from this 0% starting rate this tax year if your non-savings income is less than £17,570 (this is £12,570 personal allowance + £5,000 starting rate band). Normally, your non-savings income will include your salary and pensions, but it does not include your dividends.

Many of you reading this probably won’t be able to use the 0% starting rate this is due to you having more than £17,570 of non-savings income. However, there may be another option for you. If you are unable to benefit from starting rate band, you may be able to benefit from the Personal Saving Allowance.

Future income tax changes

Rishi Sunak has promised that after the devasting affects of the pandemic, our government is not going to raise the rates of income tax, national insurance, or VAT. This means that most income tax thresholds and allowances will be frozen until 5th April 2026. This includes:

–          Personal allowance £12,570

–          Income tax higher rate 

Further Information on Accounts & Tax

Our team of specialist accountants and tax experts can help manage, process and structure your business’s finances. From management accounts and payroll & pensions to tax planning and cash flow management, we can take care of the full back-office function of your business.

Book a free, no-obligation consultation with one of the team to find out how we can make your accounts & tax easier, quicker and cheaper.

Make sure you never miss any of our articles, webinars, videos or events by following us on Facebook, LinkedIn, YouTube and Instagram.

Accounts and Tax for Dentists Explained

Keeping your dental practice’s accounts organized and up-to-date isn’t always easy. It’s certainly rarely ever fun, but it is one of the most important aspects of being a dentist or practice owner. 

A well-kept set of accounts not only helps manage your cash flow and lower your tax bill, they will also be crucial whenever it comes to raising finance for your business

After 20 years of experience working with dental practices and through owning dental practices myself, it is evident that across the entire industry, many practices are using out-of-date procedures and technology to run their dental practice finances & accounting.

The days of handwriting ledgers, updating cumbersome spreadsheets, and sending boxes of invoices to your accountant at the last minute before the looming submission deadlines, fortunately no longer exist!

The last few years have seen a revolution in the accountancy world. The technology has evolved to the point that much of the sending and processing of invoices can be done with simple technology systems.

Going digital with your accounts doesn’t just mean an end to endless paperwork. It also reduces the amount of manpower required to process accounts, both in the dental practice and in the accountancy office, saving both you and your accountant time, effort, and money!

The Importance of Cloud Accounting Software

One thing we often see in common between poorly run practices is that they have yet to embrace digital accounting and cloud software. Some practices are still relying on paper records for their accounts. Paper records are on their way out and digital accounts are the future.

We have seen many cases of missed opportunities to save tax or improve the profits of a practice. Or at best, the benefits are achieved 6 –12 months too late due to historic accounts reporting.

Typically (and back in the day) there would be a one-off meeting with your accountant after your year-end to go through the historical figures and discuss ways to improve going forward.

The problem with this is the word “historic”. By the time your accounts are finalized and you’re sitting down with your accountant, it’s often 6 months after the year-end, meaning some of the data you’re analyzing could be 18 months old!

Real-time accounting is important because it brings so many benefits to a small business. It’s easier, simpler, faster, cheaper. In short, it’s just better.

Click here to find out more about our dental accountant services.

Benefits of Cloud Accounting Software for Dentists

Share and collaborate with your dental accountant.

By having everything available on the cloud, what you see on the cloud is also what your accountant sees too, allowing your accountant to see real-time information on your practice’s (or your personal) expenses, finances and accounts.

Most accountants will be able to provide advice on tactics and strategies to improve your practices finances, and this is far easier with a clear, instant view of your accounts.

Sharing your accounts and finances digitally with your accountant allows them a much clearer picture of the financial health of your business, which in turn helps you to collaborate more effectively with either them or any other financial advisors.

With constant updates and real-time data, you and your accountant will be able to analyse trends, manage cash flow and identify potential issues far earlier than with old-fashioned hardcopy accounts.

The technology allows you to collaborate and work together to improve the value of your dental practice performance easier than ever before.

You can use cloud-based software from any device with an internet connection. Online accounting means small business owners stay connected to their data and their accountants. The software can integrate with a whole ecosystem of add-ons. It’s scalable, cost effective and easy to use.

Anyone in your business that needs it can have access at any time. You can restrict and retain far more control over who has access to your personal information.

Click here to read more about our financial director services.

Monitoring and improving key performance areas

Software packages such as Xero allow you to automatically run a variety of financial reports for you to analyse over a whole variety of time periods.

For instance, most cloud accounting software packages allow you to run reports such as Profit and Loss, Balance Sheets and Cashflow Reports. You can also create your own templates for reports so that you can see the exact data and trends you want.

These reports make it far easier to keep track of your accounts and finances by doing a lot of the leg-work for you. Instead of wasting your time and effort poring over an entire month’s invoices to spot trends, simply run your favourite saved report and see the data instantly.

We advise clients to run such reports at least quarterly so they can assess and routinely judge and keep up with the performance of their dental practice.

This used to be an area that only large businesses with internal accounting teams could tap into. Nowadays, however, with the help of real-time accounting, any sized business can have access to this data to monitor and improve their practice performance.

If you want to make good decisions, you need to base those decisions on good and timely information. Without such information, changes that you make in your business will be more like wild guesses than informed decisions.

Knowing and understanding the key numbers in your business helps you and your advisors to spot trends and take appropriate action to improve your business’s performance. Your accountant can then spend time really adding value to your business, providing you with better advice and alerting you when things go wrong.

Click here to find out more about How Should a Dental Practice Organise its Finances.

Save money in your dental practice with cloud accounting

We had a client who was paying £450 a month for 3 days of bookkeeping (using manual keystrokes and traditional software). With the implementation of Xero (our preferred Cloud Accounting platform), this was reduced to half of that for a day, saving £4,500 for the year.

The point here is, there is amazing technology available to automate the majority of this necessary evil work. If you are not utilising this, you are basically throwing your money away.

In order to have a business that is operating to its best potential, accounting information needs to be in real-time and your accountant should be able to access this at any point. Not 6-18 months after the event, when it is often too late.

We saw another client recently who saved a whopping £200,000 in tax, simply through having up-to-date information that we had access to!

Watch our talk on saving time, money and tax in a dental practice.

Work smarter with accessible data in the cloud

The beauty of this software is the flexibility it gives you to run your business from work, home, or on the go. You can be confident that you have an up-to-date picture of how your business is doing, no matter where you are.

Software updates can be developed and delivered faster and more easily in the cloud. This means you don’t need to worry about installing the latest version and you’ll get access to new features instantly. With cloud accounting software, you have the option to run your business remotely, from anywhere in the world. And when data is fluid and accessible, the possibilities are endless.

Make quality decisions

With the technology available to small businesses today, there is absolutely no excuse to be using out-of-date, old fashioned accounting systems. You could be running a far more efficient and profitable dental practice simply by doing digital with your accounts!

By switching to digital cloud accounting software, by using the online functionality to share and collaborate with your accountants and financial advisors and by using the automatically-generated reports, you can ensure that you make better, quicker, more informed decisions to continually improve the efficiency and profitability of your practice.

By looking at the performance detailed in the reports you can identify and interpret areas that need changing in your dental practice, whether it means cutting costs, increasing fees, or increasing marketing activity.

Understanding the management reports can only help you run a more efficient and successful dental practice.

Traditional software problems

Small business accounting software that’s not available via the cloud can be tedious.

Traditionally, it can suck up far too much of your business’s time and effort. This doesn’t add value, and takes the fun out of being in business. Cloud software can save your company time and money.

  • The data in the system isn’t up-to-date and neither is the software. This means events such as changes in regulations cannot be reacted to in a timely manner and the benefits of adopting changes are 6-12 months delayed (or too late!).
  • It only works on one computer and data bounces from place to place. For example, on a USB drive. This is not secure or reliable.
  • Only one person has user access. Key people can’t access financial and customer details.
  • It’s costly and complicated to keep backups (if done at all).
  • It’s expensive, difficult and time consuming to upgrade the software.
  • Customer support is expensive and slow

Click here to find out more about our cyber security and IT support services.

Security and Business Continuity

As a small business owner, you might be concerned about a cloud service provider storing your data. But the cloud is one of the most secure ways to store information. For example, using cloud software, if your laptop is stolen, no one can access your data unless they have a login to the online account. With cloud software, this is where the data lives –as opposed to on your hard drive.

In the event of a natural disaster or fire, being in the cloud means business productivity doesn’t need to be affected because there’s no downtime. All of your information is safely and securely stored off site. As long as you have access to any computer or mobile device connected to the internet, you’re back up and running.

In addition to this, if you invite users to view your data, you can control the level of access. This is much more secure than the old-fashioned way of emailing your files or sending out a USB stick with your data on it.

Cloud-based software companies ensure that the security and privacy of data about you and your organisation is always airtight. If you use online banking, then you’re already primed to use cloud accounting.

Click here to read our 10 cyber security tips for dentists.

Action Points

  • Collaborate in real-time with your dental accountant via cloud-based accounting software to provide instant access to your financials.
  • Use the software’s automatic reporting features, like Profit and Loss or Cash Flow reports, to regularly monitor your practice’s financial health.
  • Save costs by automating bookkeeping tasks, reducing the need for manual entry and traditional bookkeeping services.
  • Make informed business decisions based on up-to-date financial data and reports, identifying areas for improvement or cost reduction.
  • Ensure data security and business continuity by using cloud-based software, which offers secure storage and access from any internet-connected device.

How to Use Cloud-Based Bookkeeping and Invoice-Scanning Software

The Samera Dental Accountants team are huge fans of using the latest cloud accountancy software. Samera is a Xero partner and can help implement the Xero software system into your practice. This will save you time, make the running of your business much more efficient, and at the same time provide very up to date information to you to help you make better decisions about your practice.

Introducing Xero into your practice will also save you money, and ensure at the end of the year you don’t have to send a box of papers to your dental accountant if it has all be book-kept by you through the year on Xero.

By introducing Xero into your Dental practice, both you and your Samera accountant can have access to the same data, enabling you to work together on growing and developing your practice.

With the software available to you today, there is no excuse to not be automating your finances in your dental practice. To do this, you need to make sure you are using cloud accounting software, like Xero. We use Xero to run our clients’ dental practice accounts and tax. 

When you rely on paper records, you waste time and effort paying invoices, sending files and documents, missing key financial trends and a real-time analysis of your accounts. 

Now, however, you can simply scan your invoices into software like Hubdoc. The key information is then extracted automatically and fed into Xero, which processes and prepares the accounts.

With your bank account securely connected to the process, your dental accountant can match off any payments that you make, any income that’s coming in, and reconcile the bank account quickly. All without waiting for paper records to be sent anywhere. 

Instead of having to keep hardcopy records of all your invoices, receipts and documents, storing them and then shipping them off to your accountant when needed, all you need is a smartphone or scanner!

Simply take a photo of your receipts, invoices etc. via the cloud accounting app, or scan the documents with a scanner, and send them off via the app or email.

All your invoices are also stored in Xero too, so trying to find an old invoice is easy as they all reside in the Cloud, accessible 24/7 from anywhere with an internet connection.

Another benefit of digital accounts is that you can also make payments directly from your cloud accounting software like Xero. Instead of paying each individual invoice separately, which is time-consuming, you can tick all the invoices you want to pay and make one single payment to all suppliers you choose.

This means you can process and prepare your dental practice management accounts much quicker and easier, which means the annual accounts are easier and quicker to prepare. All of this can really help you spot cash flow problems sooner and organise your tax calculations and payments. 

Simply put, when you automate your dental practice accounts and finances, you save yourself time, effort and money. 

Action Points

  • Adopt Xero cloud accounting software with Samera Dental Accountants’ support to streamline your dental practice’s bookkeeping, enabling real-time collaboration and financial management.
  • Automate invoice processing with Hubdoc and Xero, connecting your bank account for efficient payment reconciliations and eliminating the need for physical financial records.
  • Digitally store all receipts and invoices in Xero for easy access, and utilize its bulk payment features to manage supplier payments efficiently, saving time and enhancing cash flow.

How to Use Xero to Manage your Associate Accounts and Tax Return

Automating Your Finances with Xero and Hubdoc

How to Understand Your Dental Accounts and Tax Calculations

Running your dental accounts can often feel like the most dreaded and tedious aspect of the job. In this guide, we’ve tried to make accounts for dentists a little more simple. 

It can be easy to fall into the trap of thinking that only practice owners need to really worry about their accounts. As long as your tax bill is kept low and your money keeps moving, that’s all that matters right? Wrong. If you decide to start a dental practice of your own, or indeed if you ever try to raise a business loan, your dental accounts and financial records are going to be crucial.

You will most likely be able to produce a set of accounts without expert help. However, it is almost essential to engage a specialist dental accountant like Samera to go through your accounts with you, should you wish to raise finance.

Profit And Loss Accounts

our profit and loss accounts will show your turnover for each of the last 2 years, usually generated by your service sales. 

You will then list your cost of sales, such as materials. 

Underneath this, you will need to list your expenditures. Here is a list of the kind of costs you will need to include here: 

  • Protective clothing
  • Travel expenses 
  • Laundry
  • Use of Private residence
  • Vehicle running costs 
  • Professional indemnity insurance 
  • Printing, postage and stationery 
  • Training
  • Telecommunications and data
  • Accountancy fees
  • Professional subscriptions
  • Charitable donations 

You will then subtract these expenses from your gross profit. This will give you your net profit for the year. 

Balance Sheet

The balance sheet is also a key document and represents the financial health of your business. The profit and loss sheet shows you the financial situation for that year alone. 

On the other hand, the balance sheet includes all of your assets and liabilities. Assets are split into current and fixed assets. 

Typically for dental associate accounts, current assets will include your bank accounts and any money owed to you. Current assets are assets which can be expected to be sold or consumed within that fiscal year.

Fixed assets are tangible assets, such as loupes and their costs are included on the balance sheet and not the profit and loss sheet. This is because they are an asset of the business which you will theoretically use for many years, not as a one-off material within the fiscal year. The value will be depreciated across the period of its estimated useable life.

Liabilities are people or entities that you or the business owe money to.

Underneath your assets and liabilities, you need to list your Net Current Assets (subtract your total liabilities from your current assets), Total Assets Less Current Liabilities and Net Assets (current + fixed assets).

Balancing this all out is the Capital Account, which is where the accounts owner comes in. Here, you list your brought-forward profits from the previous year. You then list your new net profit for the year just ended. Then, off-setting all of that is what the owner has drawn for personal use, the money they’ve spent.

So, your brought-forward profits plus current year profits, minus drawings gives you your remaining cash reserves. This will also equal your assets minus liabilities (Net Assets).

In most cases, a financially healthy business will have a positive balance sheet. 

Tax For Dentists Explained 

Once you have properly organised your accounts, it’s time for the tax man to get involved. 

On your tax calculation record, you’ll need to include your income received (before tax is taken off). This will typically include your profit from self-employment (as an associate dentist), which you calculated on the profit and loss sheet, as well as interest received from your bank accounts (even if it is only a couple of pounds). This gives the Total Income Received. 

You then take away from this figure your pension contributions and your personal tax allowance. The remaining figure is your taxable profit. 

You will then list out your tax payments categorised by the tax band you need to pay, how much at the basic rate, how much at the higher rate and any additional rate. You will also need to list any taxable interest payments you have received. 

Also, you will need to report your National Insurance payments, which have different threshold bands. This will give you your total National Insurance liability. 

Adding these figures (Income Tax Charged and National Insurance liabilities) together gives you your total income tax. 

You should find that this figure is around 25% of your profit. This is why we recommend to our clients that they set aside 25% of their income to cover their tax bill. 

Click here to find out more about our tax advisory services for dentists.

Paying The Tax

The next document you need to draw up will be the tax payment summary. 

First, list your total tax payments due, which you calculated on the tax report. You will then minus any previous tax payments you have made for that year, as well as any deductions such as previous overpayments and rebates.

The resulting figure is the tax you currently owe for the financial year.

Remember, if your tax bill is over £1,000 you will need to make advance payments on next year’s tax bill, based on this year’s tax bill. You will be required to pay 50% of the total tax due in January and the remaining 50% in July. 

So, your total tax bill due on 31st January will be the tax you currently owe, plus your first advance payment on next year’s tax. 

Click here to listen to our podcast on how to legitimately reduce your tax bill.

What Dentists Can Claim On Expenses 

As a dentist you can only claim on expenses items which have been purchased for business purposes, the items you use for dentistry.

While you may be tempted to try and put everything through the books, this can quite often end you up in trouble with HMRC. That’s why the Samera team have put together a Dental Associates Expenses Guide.

So when it comes to preparing your annual tax return, a degree of good judgement needs to be used to assess whether something is allowable for tax purposes.

Travel from home to practice is a big no no, however, if you travel between practices on a regular basis and keep records to support such journey costs, then this is allowable for tax purposes. Mileage records must be maintained – HMRC just love to investigate such mileage claims and then find that there are not any!

If you use a computer for your business, then some or even all of the capital cost could be claimed on your behalf.

New loupes, or other new kit? Then potentially this can also be claimed for.

Good Judgement is Essential

In respect of training, if you are building on existing knowledge, then this is usually deemed to provide you with CPD, which can then be claimed for. However, brand new knowledge is usually not deemed to be allowable, so again some judgement needs to be used on this aspect.

Action Points

  • Engage a specialist dental accountant like Samera to navigate your dental accounts effectively, especially if you’re considering raising finances or starting your own practice.
  • Understand and regularly review your Profit and Loss accounts and Balance Sheet to grasp the financial health of your practice, including turnover, costs, net profit, assets, and liabilities.
  • Organize your tax calculations meticulously, incorporating income, pension contributions, personal allowances, tax bands, and National Insurance payments to accurately determine your tax liability.
  • Set aside approximately 25% of your income to cover your tax bill and be prepared for advance tax payments if your bill exceeds £1,000, splitting the payment into two installments in January and July.
  • Utilize the Samera team’s Dental Associates Expenses Guide to accurately claim allowable business expenses and apply good judgment to distinguish between allowable and non-allowable expenses for tax purposes.

Click here to read our guide on expenses for dentists.

Dental Accounts & Tax Specialists

As dental practice owners ourselves, we know what makes a clinic tick. We have been working with dentists for over 20 years to help manage their accounts and tax.

Whether you’re a dental associate, run your own practice or own a dental group and are looking to save time, money and effort on your accounts and tax then we want to hear from you. Our digital platform takes the hassle and the paperwork out of accounts.

To find out more about how you can save time, money and effort on your accounts and tax when you automate your finances with Samera, book a free consultation with one of our accounting team today.

Dental Accounts & Tax: Further Information

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How Can Dentists Reduce Their Tax Legitimately?

The Dental Business Guide Podcast Episode | 2nd February
George Bellamy and Arun Mehra

As a dental specialist, it’s essential to focus on providing the best care for your patients. But it’s also important to manage your finances well to ensure your practice remains profitable. One of the most significant expenses for any dentist is their tax bill. Dealing with taxes can be complex, but there are smart strategies that can legally help you reduce the amount of taxes you need to pay.

Let’s discuss some key techniques that dental specialists can use to lower their tax responsibilities. These include taking advantage of tax breaks and deductions and organising your practice in a tax-efficient manner. By following these tips, you can keep more of your hard-earned money in your pocket while still complying with tax regulations.

Click here to read our article on Financial tips for dentists.

The importance of reducing tax burdens for dentists

As a dental specialist, you aim to provide excellent care to your patients and run a successful dental practice. However, along with the rewards of your profession, come the challenges of managing your finances and dealing with various tax obligations. Paying taxes is a necessary part of running a business, but it can often feel like a heavy burden, leaving you with less income to reinvest in your practice or achieve personal financial goals.

That’s why it’s crucial for dental specialists to explore smart strategies to reduce their tax rates. By taking advantage of tax-saving opportunities and implementing effective tax-planning techniques, dentists can improve their financial position and keep more of their hard-earned money.

Lowering your tax rate not only improves your financial well-being but also allows you to allocate resources to areas that have the biggest impact on your dental practice. Whether it’s investing in advanced equipment, expanding your services, or providing comprehensive employee benefits, reducing your tax liability can pave the way for growth and success.

In this blog post, we will explore practical strategies that dental specialists can use to lower their tax rates. From understanding deductible expenses to utilising tax breaks and incentives specifically designed for the dental industry, we will provide you with valuable insights and useful tips to make informed decisions that can positively affect your bottom line.

Remember, it is essential to approach tax reduction strategies ethically and within the bounds of the law. By staying informed and working with qualified tax professionals, you can navigate the complex world of taxes with confidence and discover excellent opportunities to improve your financial situation. So, let’s dive in and explore smart techniques that can help dentists honestly reduce their tax rate and unlock their practice’s full potential.

Action Point

Explore tax-saving strategies like understanding deductible expenses, utilizing industry-specific tax breaks, investing in retirement plans, employing family members, and consulting with tax professionals to effectively reduce your tax rate and enhance your dental practice’s financial health.

Click here to read our blog on 10 Tax-saving tips for vets.

Understanding the unique tax challenges faced by dentists

Dental specialists, like many other professionals, face unique tax challenges that require a deep understanding of the dental industry and its specific tax rules. To handle their taxes well and improve their financial situation, dentists need to know about these challenges.

One major challenge is figuring out which expenses they can deduct from their taxes. Dentists often deal with a complex mix of deductible and non-deductible expenses, such as equipment purchases, office rent, employee salaries, and even continuing education costs. Knowing which expenses can be claimed as deductions is crucial for saving on taxes.

Another big challenge for dentists is managing the tax implications of owning a dental practice. Owning a practice involves various tax considerations, like choosing the best business structure (like sole ownership, partnership, or corporation) and understanding the tax effects of selling a practice. Staying updated on the ever-changing tax regulations is essential to follow the rules and minimise tax obligations.

Retirement planning can also be tricky for dentists due to the physical demands of their profession. Planning for a comfortable retirement is important, and dentists can benefit from knowing about tax advantages linked to retirement savings. These options can help them save for retirement while reducing their tax burden.

Moreover, dental specialists can explore specific tax incentives and credits designed for the dental industry. Taking advantage of tax breaks for investing in advanced dental technology or utilising research and development tax credits for innovative dental procedures can lead to significant tax savings.

Action Point

Dentists face unique tax challenges related to deductible expenses, practice ownership, retirement planning, and industry-specific tax incentives. Understanding these challenges is crucial for managing taxes effectively and improving financial outcomes in the dental profession.

Contact us to find out more

Utilising business deductions to lower taxable income

One of the best ways for dentists to legally reduce their taxes is by using business deductions. Business deductions are expenses that are necessary for running a dental practice and can be subtracted from your income, which ultimately lowers the amount of taxes you owe.

As a dentist, you have access to various tax breaks. Firstly, you can deduct the costs of supplies and equipment needed for your practice. This includes dental tools, x-ray machines, office furniture, and even the cost of dental materials like fillings and crowns.

In addition to these significant expenses, you can also deduct the costs of running your office. This includes rent or mortgage payments for your practice space, utilities like electricity and water, and even the expense of office supplies like paper, ink, and computer software.

Furthermore, don’t forget about the expenses related to your professional development. Continuing education courses, conferences, and professional memberships are deductible, as they are essential for improving and honing your skills as a dentist.

To take advantage of these deductions, it’s crucial to keep detailed records of all your expenses and consult with a qualified tax expert. By doing so, you can significantly decrease your taxable income and, in turn, reduce your tax burden as a dentist.

Action Plan

  • Understand Deductible Expenses: Dentists must navigate the complex landscape of deductible and non-deductible expenses. This includes distinguishing between equipment purchases, office rent, employee salaries, and continuing education costs. Knowing which expenses qualify as deductions is essential for maximizing tax savings.
  • Optimize Business Structure: Owning a dental practice brings unique tax considerations, such as choosing the most advantageous business structure (e.g., sole proprietorship, partnership, or corporation) and understanding the tax implications of practice sales. Keeping abreast of changing tax laws ensures compliance and minimizes tax liabilities.
  • Leverage Retirement Planning: Due to the demanding nature of their profession, dentists must strategically plan for retirement. Familiarity with tax-advantaged retirement savings options allows for efficient retirement planning while reducing current tax burdens.
  • Capitalize on Industry-Specific Tax Incentives: Dentists should explore tax incentives and credits specifically designed for the dental industry, such as deductions for investing in advanced dental technology or credits for innovative procedures. Utilizing these incentives can lead to substantial tax savings.
  • Maximize Business Deductions: By meticulously documenting necessary practice-related expenses, including supplies, equipment, office operations, and professional development, dentists can significantly lower their taxable income. Regular consultation with tax professionals ensures that all eligible deductions are claimed, optimizing tax outcomes.

Incorporating your dental practice for potential tax benefits

If you decide to turn your dental practice into a formal business entity, like a professional corporation (PC) or limited liability company (LLC), you can enjoy several tax benefits that may significantly reduce your overall tax burden. Creating a separate legal entity for your practice allows you to manage and deduct business expenses more efficiently, leading to potential tax savings. By having separate bank accounts and credit cards for your practice, it becomes easier to identify and claim deductible expenses, such as equipment purchases, office rent, employee salaries, and even continuing education costs.

Incorporating your dental practice can also open up additional opportunities for retirement planning. It allows you to contribute more pre-tax money to your retirement savings compared to being a sole proprietor. This helps secure your financial future while also reducing your taxable income in the present, leading to potential tax savings.

Another benefit of incorporating your dental practice is the possibility to take advantage of various business tax breaks and credits. For instance, you might be able to deduct expenses related to professional memberships, professional liability insurance payments, marketing and advertising costs, as well as costs for maintaining and upgrading your dental equipment and technology.

It’s important to note that the specific tax benefits and requirements of incorporating your dental practice may vary depending on your location and the specific structure you choose. Therefore, it is recommended to consult with a qualified tax professional or accountant specialising in dental practices to ensure you navigate the process correctly and maximise your tax savings while staying compliant with all relevant regulations and rules.

Listen to our episode on how dental practices should structure their finances in 2021.

Implementing tax planning strategies to optimise deductions and credits

Tax planning strategies can significantly reduce the tax burden for dental specialists. By taking advantage of deductions and credits, dentists can make the most of available tax benefits.

One effective strategy is to use all eligible deductions. Dentists can deduct various business expenses, such as equipment, supplies, and lab fees. Keeping detailed records and receipts is crucial to prove these deductions during tax filing. Additionally, dentists may qualify for deductions related to office rent or mortgage interest, utilities, insurance payments, and professional memberships.

Another important tax planning technique is to maximise available tax credits. Dentists should explore and understand the credits they may be eligible for, like the Research and Development Tax Credit or the Small Business Healthcare Tax Credit. These credits can significantly reduce tax liability and provide additional financial benefits.

Timing is also critical for tax planning. Dentists can strategically time their equipment or property purchases to take advantage of available tax deductions or depreciation benefits. By working with financial advisors or accountants, dentists can ensure they make these purchases at the most advantageous times for tax purposes.

Lastly, staying informed about changes in tax regulations and rules is essential. Tax codes can evolve, and new deductions or credits may become available. By staying up-to-date, dentists can adjust their tax planning strategies proactively to make the most of any relevant changes.

Tax planning strategies require careful consideration and should be executed with expertise. Dentists should consult with qualified tax professionals who specialise in working with medical professionals. This way, dentists can navigate the complexities of tax planning and legitimately reduce their tax burden in an effective manner.

Read more about tax saving tips for dentists.

Hiring a professional tax advisor with expertise in dental practices

Bringing in a professional tax advisor who specialises in dental practices can be a game-changer for reducing your tax burden as a dentist. These specialised advisors understand the unique tax challenges and opportunities that dentists face, so it might be tempting to handle your taxes on your own or rely on a general accountant.

These experts are well-informed about the dental industry and keep up with the latest tax laws and rules for dental practices. They can find deductions and tax breaks that you might not be aware of, ensuring you make the most of all suitable tax-saving strategies.

A professional tax consultant can also review your financial records, identify potential areas of concern or non-compliance, and help you implement effective tax planning strategies. They can analyse your practice’s finances, find areas where you can optimise deductions, and make sure you follow all tax regulations, reducing the risk of audits or penalties.

Moreover, having a tax advisor who understands the dental business can offer valuable insights and guidance on practice structuring, retirement planning, and investment strategies that can further decrease your tax rate in the long run.

Although hiring a tax advisor may involve some costs, the potential tax savings and peace of mind they provide can far outweigh the expense. By entrusting your tax planning and compliance to a professional with specialised knowledge of the dental industry, you can focus on what you do best: providing exceptional dental care to your patients, while ensuring that your tax burden is legally minimised.

Read more about our accounts services for dentists, including our 10 vital things to look out for in a dental accountant.

Staying updated on changing tax laws and regulations

As a dental specialist, it’s crucial to stay updated on changes in tax regulations and rules to really reduce your tax rate. Tax laws can change frequently, so it’s essential to be aware of any updates or adjustments that could impact your dental practice. Not following these changes could lead to penalties or missed opportunities to lower your tax bill.

One way to stay current is by regularly consulting with a tax professional who specialises in dental practices. These experts can provide valuable insights and guidance on the latest tax regulations specifically tailored to your profession. They can help you navigate complex tax codes, identify deductions, and make sure you maximise your tax-saving opportunities.

In addition to seeking professional advice, it’s also beneficial to stay informed through reliable sources like government websites, tax publications, and industry associations. These resources often provide updates on tax regulations and rules that may directly affect dentists.

By being proactive and well-informed about changing tax regulations, you can carefully plan your financial decisions, take advantage of available deductions, and ultimately lower your tax rate. Implementing this smart strategy will not only save you money but also ensure that you are in compliance with the law, giving you peace of mind for your dental practice.

We hope you found our blog post about smart ways to lower dentists’ tax bills informative and helpful. Taxes can be a significant expense for dental practices, but with the right strategies, you can legally reduce your tax burden and keep more of your hard-earned money. By following the tips in this article, you can make important financial decisions that will benefit your practice and contribute to its long-term success. Remember, it’s always recommended to consult with a qualified tax professional to ensure compliance with the latest tax regulations and rules.

Action Points

  • Incorporate Your Practice: Consider incorporating your dental practice into a formal business entity like a PC or LLC to manage business expenses more efficiently and enjoy potential tax benefits. This move can streamline the process of identifying and claiming deductible expenses, allow higher pre-tax contributions to retirement savings, and enable you to take advantage of specific business tax breaks and credits. Consult with a tax professional to navigate this process correctly.
  • Implement Tax Planning Strategies: Utilize tax planning strategies to optimize deductions and credits, such as fully leveraging eligible business expenses, maximizing tax credits, timing equipment purchases for tax advantages, and staying informed about tax law changes. Collaborate with financial advisors or accountants to ensure strategic timing and compliance.
  • Hire a Specialized Tax Advisor: Engaging a tax advisor with expertise in dental practices can provide insights into unique tax challenges and opportunities, ensuring compliance and maximizing tax-saving strategies. They can offer tailored advice on structuring your practice, retirement planning, and investment strategies to minimize tax liabilities effectively.
  • Stay Updated on Tax Laws: Keeping abreast of changing tax laws and regulations is crucial for dental specialists to avoid penalties and capitalize on new tax-saving opportunities. Regular consultation with a tax professional, along with self-education through reputable sources, can help you remain compliant and optimize your financial planning.

By incorporating your practice, implementing strategic tax planning, consulting with specialized advisors, and staying informed on tax changes, you can effectively reduce your tax burden and enhance the financial health of your dental practice.

Click here to read our articles Samera.

Dental Accounts & Tax Specialists

As dental practice owners ourselves, we know what makes a clinic tick. We have been working with dentists for over 20 years to help manage their accounts and tax.

Whether you’re a dental associate, run your own practice or own a dental group and are looking to save time, money and effort on your accounts and tax then we want to hear from you. Our digital platform takes the hassle and the paperwork out of accounts.

To find out more about how you can save time, money and effort on your accounts and tax when you automate your finances with Samera, book a free consultation with one of our accounting team today.

Dental Accounts & Tax: Further Information

Make sure you never miss any of our articles, webinars, videos or events by following us on Facebook, LinkedIn, YouTube and Instagram.