
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

Ashden Accountants
Ashden Accountants are Accountants, Registered Statutory Auditors, Personal and Business Tax Specialists and Business Consultants. We provide accounti...See More

Accounting4Actors
Accounting4actors is not only for actors! We also represent dancers, musicians, sports professionals, models, writers, artists, directors, camerapeopl...See More

KUBED SOLUTIONS LIMITED
Gouri Kubair, the founding director of the business has over a decade of experience in the field of accountancy. Including 8 years in Deloitte, ...See More

BLUEBIRD ACCOUNTANCY LIMITED
Bluebird Accountancy was created with the needs of modern day contractors and freelancers like you in mind. With modern day accountancy software makin...See More

Ahmed-Cliffords Ltd
Ahmed-Cliffords has grown to become one of the region's most successful accountants and tax consultancy offices. From simple beginnings, when we wer...See More

MQPLUS LTD
MQplus LTD provides accurate, flexible and cost-effective managment accounting services for sole traders,partnerships and Limited Companies

AWS ACCOUNTANTS (LONDON) LLP

SARA COOPERS ACCOUNTANTS LTD
About Sara Coopers Whatever business you are in; you owe it to yourself to find an accountancy service that operates for your benefit – not the taxma...See More

John Lavender accounting ltd
John Lavender Accounting Firm is a beacon of precision and expertise in the financial landscape. With a legacy steeped in integrity and excellence, we...See More

Rochvilles & Co Accountants Ltd
Welcome to the Rochvilles & Company website. We are glad that you make the time and effort to visit us. The website has being designed to provide you ...See More

TaxAssist Accountants
About TaxAssist Accountants Barking At TaxAssist Accountants, we provide a personal and professional accounting service tailored to you. We help star...See More

Southall Accountants
We are the only accountants in the city who are dedicated to groom your business for growth. If you are a business owner, who is putting in the hard w...See More

KHAWAR & CO LTD
Khawar & Co Ltd is an active company located in London, Greater London. We are specialist accountancy firm, ready to help you with different accountan...See More

MONEYTREE FINANCIAL LTD
Moneytree Financials' focus is to provide clients with useful, relevant and meaningful services aimed at supporting and guiding your business as it mo...See More

YBSM PARTNERS
YBSM Partners is a Certified Accounting Firm with a difference. Providing Accounting, T...

MADE SIMPLE GROUP LIMITED
Founded in 2003, we've formed over 1 million companies and helped thousands of business owners start, run and grow their business. We help you form ...See More
Frequently asked questions
What specific tax reliefs can an accountant claim for my dental practice?
A specialist dental accountant can claim capital allowances on equipment such as dental chairs, X-ray machines, and sterilisation units. They will also ensure you claim for laboratory fees, professional indemnity insurance, and continuing professional development courses. Furthermore, they can advise on the structure of your practice to maximise tax efficiency and ensure all legitimate business expenses are deducted from your taxable profits.
How can an accountant help with my Self Assessment tax return?
An accountant will accurately calculate your income from all sources, including associate work and practice profits, and complete your Self Assessment tax return on your behalf. They will ensure all allowable expenses are claimed and that your return is submitted to HMRC before the deadline. This reduces the risk of penalties and ensures you only pay the correct amount of tax.
Should I practise as a sole trader or a limited company?
The choice depends on your personal circumstances, income level, and long-term plans. A limited company can offer tax advantages through Corporation Tax rates and dividend payments, but also involves more administrative duties. An accountant can model both scenarios for you, considering your drawings and profit levels, to recommend the most tax-efficient structure for your dental practice.
What is MTD for Income Tax and how does it affect me?
Making Tax Digital for Income Tax requires sole traders and landlords with income above a certain threshold to keep digital records and submit quarterly updates to HMRC using compatible software. An accountant will ensure you have the correct software and will manage the submission of your quarterly updates and the final declaration, keeping you fully compliant with HMRC's digital requirements.
How do I ensure my practice is VAT-registered correctly?
Your accountant will monitor your taxable turnover to determine when compulsory VAT registration is required. They will also advise on whether voluntary registration is beneficial, particularly for reclaiming VAT on significant capital purchases. They will guide you through the different VAT schemes, such as the flat rate scheme, to find the most advantageous option for your practice's cash flow.
What records should I keep for my accountant?
You should keep all receipts and invoices for business expenses, including equipment, materials, and travel. You must also maintain a record of all income received from patient fees and any other sources. Your accountant will advise you on using accounting software to streamline this process, ensuring your records are accurate and ready for the year-end accounts preparation.
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