Accountants for Dentists in Basingstoke: Specialist Tax and Accounting Support

You are free to appoint any accountant, but dental work does involve areas that generalists may not encounter often. Income can arrive through NHS contract payments, private treatment fees or a mixture of both, and expense claims can include indemnity cover, GDC registration, professional subscriptions, CPD and clinical equipment. An accountant familiar with these areas is more likely to ask the right questions, spot costs that may be allowable and understand how your working arrangement affects what is reported and when. It is not a legal requirement, but it can make the process smoother and reduce the risk of details being overlooked.

Many associate dentists work under a self-employed contract, which means their income is usually reported through Self Assessment rather than taxed through PAYE. In practice, that involves recording income from one or more practices, claiming allowable expenses and understanding how payments on account may affect the amounts due during the year. Some associates are engaged as employees instead, in which case PAYE applies and the reporting position is different. The contract terms, the way you are paid and the number of practices you work for all shape the correct treatment, so it is worth reviewing your arrangements rather than assuming a standard answer applies.

Yes. Mixed income is common in dental practices, and it can create bookkeeping and reporting questions because NHS contract payments and private treatment fees often follow different patterns and arrive on different schedules. Keeping those streams clearly separated in your records makes it easier to understand profitability, monitor contract performance and prepare accurate accounts. There can also be VAT implications depending on the services provided and the level of turnover, which is why it helps to review the position rather than treat all dental income in the same way.

A partnership generally involves a partnership tax return together with individual Self Assessment returns for each partner, with profits allocated according to the partnership agreement. A limited company is a separate legal entity, so it typically files annual accounts and a Corporation Tax return, and directors are usually paid through payroll alongside any dividends. The right structure depends on your circumstances, including how many principals are involved, how profits are shared, exposure to risk and plans for growth or eventual sale. There is no single answer that suits every practice, so the decision is usually made after looking at the numbers in detail.

Payroll for a dental practice often covers a mix of people, which can include nurses, receptionists, hygienists, practice managers, associate dentists paid a salary and directors taking a salary. Each arrangement has its own reporting requirements, and pay, deductions and workplace pension duties where applicable need to be handled accurately and on time. We can run payroll on your behalf, keep records of payments and deductions, and make sure the information feeding into your annual accounts and returns is consistent with what has been reported.

As a general guide, it helps to retain treatment income records, NHS payment schedules, associate or self-employed contracts, laboratory invoices, supplier receipts, bank and card statements, and evidence of professional costs such as indemnity cover, registration and training. Equipment purchases and any finance agreements relating to them are also worth keeping, since the tax treatment of capital items can differ from everyday running costs. Keeping these records organised through the year, rather than gathering them at the end, usually makes the accounts and tax return process quicker and reduces the chance of items being missed.

VAT treatment in dentistry is not identical across all services. Some dental care may be exempt, while other treatments, such as certain cosmetic or purely private procedures, can be standard-rated, and registration depends on taxable turnover against the relevant threshold. Because the rules vary with the mix of services provided, the position should be reviewed rather than assumed. If registration applies, we can help with returns, record keeping and making sure your fee structure and invoicing reflect the correct treatment.