Accountants for Dentists in Brigg: Specialist Tax and Accounting Support for Dental Professionals

There is no legal requirement to appoint an accountant, but associate income often involves more than a single figure to report. Fee splits, laboratory costs, indemnity cover, professional subscriptions, CPD and any other practice-related expenses all need to be captured accurately for your Self Assessment to reflect your actual position. An accountant can help you keep those records in a usable format, work out which costs may be allowable and prepare and submit your return, which is particularly useful where you also have income from other sources or have recently changed practices.

Both are generally taxable, but the way they are reported depends on your role and business structure. A principal dentist working under an NHS contract and treating private patients will usually be recording trading or professional income, whereas an associate is typically taxed on their share of fees. Where a practice trades through a limited company, the tax position shifts again. The practical challenge is usually record-keeping rather than the principle, so keeping NHS and private income clearly separated throughout the year makes the year-end process considerably smoother.

Commonly claimed costs include professional body subscriptions, GDC registration, indemnity insurance, CPD, clinical equipment and materials, and a proportion of costs relating to premises or working from home where relevant. Whether a particular cost is allowable depends on what it was for, whether it was incurred wholly and exclusively for the purposes of your work, and whether you are trading as a sole trader, in partnership or through a company. Capital items are treated differently from day-to-day running costs, so it is worth checking the position before assuming an expense can be deducted.

There is no single answer that suits every practice. Sole trader and partnership structures are simpler to administer, while a limited company can offer different tax and profit-extraction possibilities, particularly where profits are retained in the business or reinvested in equipment. Factors that usually shape the decision include the number of principals, expected profit levels, pension planning, how profits are drawn, and plans to expand, bring in an associate or sell the practice later. A comparison based on your own figures is usually more useful than a general rule of thumb.

Yes. Practice payroll can cover nurses, hygienists, receptionists, practice managers and any associates engaged as employees, along with the associated PAYE, National Insurance and pension duties. On the VAT side, dental care is generally exempt in certain circumstances, but that does not automatically mean a practice should ignore VAT, since some treatments, products and mixed supplies, along with certain business activities, can fall outside the exemption. Where VAT applies, registration and returns can be managed as part of your ongoing accounting support.

It helps to have your most recent set of accounts and tax return, your HMRC references, details of your NHS contract or associate agreement, and access to bank and practice management records. Records showing how income splits between NHS and private work, a summary of expenses, payroll information if you employ staff, and VAT records if you are registered are also useful. If you are moving from another accountant, we can liaise with them to obtain the relevant history so you are not chasing paperwork yourself.

Accounting support can be valuable at both ends of a practice transaction. On a purchase, that may involve reviewing the figures, understanding what the practice's profits really consist of and considering how the acquisition should be structured. On a sale, the focus tends to be on preparing the financial information a buyer will expect, understanding how goodwill and other assets are treated for tax, and considering the timing of the transaction. The tax position can differ depending on whether you trade personally or through a company, so early advice is usually worthwhile.

Fees are normally based on the work your circumstances actually require rather than a flat rate applied to every dentist. A self-employed associate with one income source and straightforward expenses will usually need less support than a practice owner with employees, VAT, equipment purchases and a company structure. Most accountants will discuss the scope of work up front and agree a fee basis in advance, so you know what is included for accounts, returns, payroll or VAT work before anything begins.