
ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More

ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
Frequently asked questions
What specific services do accountants for dentists provide?
Accountants for dentists offer a range of services including preparation of tax returns, Self Assessment, Corporation Tax, VAT returns, payroll, and bookkeeping. They also provide strategic advice on practice structure, tax-efficient profit extraction, and retirement planning. Many also assist with HMRC investigations and help you understand allowable expenses specific to dental practices, ensuring you remain compliant and financially optimised.
How do I choose between an ACCA and an ICAEW qualified accountant?
Both ACCA and ICAEW qualifications are highly respected and indicate a high level of professional competence. The choice often comes down to personal preference and the specific expertise of the individual accountant. You should review their experience with dental practices, their approach to client communication, and their fee structure. Both qualifications require ongoing professional development, so you can be confident in their knowledge.
Why is it important to use a specialist accountant for my dental practice?
Dental practices have unique financial structures, including associate agreements, lab fees, and equipment leasing. A specialist accountant understands these nuances and can identify tax savings that a general accountant might miss. They are also familiar with HMRC rules on dental practice valuations and goodwill, which is crucial for buying or selling a practice. Their expertise ensures you maximise your income and minimise your tax liability.
What should I look for in an accountant for my dental practice?
Look for an accountant who is AAT, ACCA, or ICAEW qualified and has demonstrable experience with dental clients. Check their reviews and ask for references from other dental professionals. Ensure they are proactive in offering advice, not just reactive in preparing accounts. Also, consider their availability and whether they offer cloud-based accounting solutions for real-time financial tracking.
How can an accountant help me with HMRC tax investigations?
If HMRC opens an investigation into your tax affairs, an experienced accountant can act as your representative, handling all communication and providing the necessary documentation. They will ensure your records are in order and that you meet all deadlines. Their knowledge of tax law helps to minimise any penalties or additional tax liabilities, giving you peace of mind during a stressful process.
Are accountants for dentists expensive?
The cost of an accountant for dentists varies depending on the size of your practice and the complexity of your affairs. However, the fees are often outweighed by the tax savings and efficiencies they identify. Many accountants offer fixed-fee packages, so you know exactly what you are paying. It is wise to compare quotes from several firms to find one that fits your budget.
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