Accountants for Dentists in Armagh

It is not compulsory, but many associate dentists choose professional support because their income and expenses are less straightforward than they first appear. If you work across more than one practice, receive NHS and private income, or pay laboratory, materials and indemnity costs personally, an accountant can help gather that information, identify expenses that may be allowable, prepare your Self Assessment return accurately and keep a record of what has been claimed. Exactly what applies depends on your contracts and how your income is paid, which is why we review your individual arrangement first.

Both are generally taxable, but the way they are reported can differ depending on whether you receive them as a self-employed dentist, through a partnership or through a limited company, and how the income is structured. NHS income may arrive through a contract held by a practice or provider, while private fees may be collected directly or shared under an arrangement with the practice. Because these routes affect what you record and when, we look at your specific contracts and payment flows before advising on the most appropriate treatment.

Yes. Practice-level accounting typically involves annual accounts, bookkeeping, payroll for staff, review of practice costs and, where relevant, VAT and Corporation Tax. If the practice is run as a limited company, company accounts and returns are needed alongside your personal tax position; if it is a partnership, partnership accounts and returns apply, and each partner also reports their share personally. The mix depends on your structure, so we confirm that before setting out what is required.

Commonly considered items include professional subscriptions, indemnity or professional insurance, continuing professional development, specialist clothing, laboratory and materials costs where you bear them, and a proportion of costs where equipment or premises are used for work. Capital items such as major equipment purchases are usually treated differently from everyday running costs, and some costs are restricted, particularly where there is a private or personal element. Whether a particular expense is allowable depends on your circumstances, so we review the detail rather than applying a blanket rule.

VAT treatment in dentistry can be more nuanced than in many other sectors, because some services may be exempt while others are standard-rated, and the position can differ between NHS and private work. Registration is generally driven by your taxable turnover against the relevant threshold, but what counts towards that figure depends on the nature of your supplies. Where VAT applies, careful record-keeping and correct invoicing matter. We can review your position and, where appropriate, discuss registration obligations and returns.

For most dentists, that means details of your income sources, contracts or self-employment arrangements, business structure, records of expenses, bank and card statements, and any previous accounts or tax returns. If you employ staff, payroll information is also needed, and if you are VAT registered we would look at your VAT records. If your records are incomplete or you are behind with filing, that is not a barrier — we can help you work through what is missing and bring things up to date.

Usually it is more straightforward than people expect. Once you decide to move, we can contact your existing accountant for the relevant information and records, and we will confirm what is needed from you in the meantime. Where there is professional clearance to obtain, that is handled as part of the process. It also helps to plan a change around key dates in the tax calendar where possible, so nothing is left outstanding in the handover.

Fees depend on the work involved, which is why we discuss your circumstances before setting anything out. A self-employed associate with a single Self Assessment return requires far less work than a practice with payroll, VAT, company accounts and multiple income streams, so pricing reflects the scope, complexity and frequency of support you need. Once we understand what is required, we explain the basis of our fees clearly so there are no surprises as the work progresses.