
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 tax issues do accountants for dentists handle?
Accountants for dentists specialise in areas such as Self Assessment tax returns, VAT on dental services, and Corporation Tax for limited companies. They also manage payroll for associates and support staff, and advise on capital allowances for equipment and surgery renovations. Their sector-specific knowledge ensures compliance with HMRC regulations whilst identifying all available tax reliefs.
How do I choose between an ACCA and an ICAEW qualified accountant?
Both ACCA and ICAEW qualifications indicate a high level of professional competence and ethical standards. The choice often comes down to personal preference or the specific services you require. ACCA members frequently have strong commercial awareness, whilst ICAEW chartered accountants are known for their technical rigour. Reviewing their experience with dental practices is more important than the specific body.
Can an accountant help with my dental practice's VAT returns?
Yes, a specialist accountant can manage your VAT returns, ensuring that you correctly apply the rules for exempt and taxable supplies. Dental services are often exempt, but certain treatments are taxable, which can be complex. Your accountant will analyse your income streams and advise on partial exemption calculations, helping you to reclaim input VAT where possible and stay compliant with HMRC.
What is the benefit of using a local accountant in St.ives Cambs?
Using a local accountant in St.ives Cambs offers the advantage of face-to-face meetings and a deeper understanding of the regional business environment. They are accessible for regular consultations and can provide immediate support for urgent financial matters. Local professionals also have established relationships with other service providers in the area, such as solicitors and banks, which can benefit your practice.
How often should I meet with my dental accountant?
You should meet with your dental accountant at least quarterly to review your financial performance and plan for upcoming tax deadlines. More frequent meetings may be beneficial during periods of significant change, such as buying a practice or taking on an associate. Regular contact ensures that your tax planning is proactive and that you are not surprised by any liabilities.
Will an accountant help me with my practice's Corporation Tax return?
Absolutely, if your dental practice operates as a limited company, your accountant will prepare and file your Corporation Tax return with HMRC. They will calculate your taxable profits, claim allowable expenses, and advise on director's remuneration strategies. Their expertise ensures that you pay the correct amount of tax whilst maximising your income extraction efficiency.
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