Accountants for Dentists in Budleigh Salterton: Specialist Tax and Accounting Support

Not every associate dentist needs specialist support, but associate arrangements can be less straightforward than they appear. You may be treated as self-employed while working under an agreement with a practice, and your income may be calculated on UDAs, sessions or a percentage of fees. Getting that recorded correctly matters for your Self Assessment return, your payment on account and any expenses you claim. An accountant who deals with dentists regularly can help you understand how your arrangement is likely to be treated and what records you should be keeping.

The tax treatment of your income generally depends on whether you are employed, self-employed or operating through a limited company, rather than on whether the money comes from NHS work or private treatment. However, NHS contracts and private fee income can behave differently in practice — for example in how they are scheduled, invoiced and received. Keeping these streams clearly separated in your records makes it easier to produce accurate accounts, complete tax returns and answer any queries that may arise.

Yes. Self Assessment is one of the areas we deal with most often for self-employed dentists and associate dentists. We can prepare and submit your return, make sure your income from all sources is accounted for, review the expenses you are claiming, and help you plan for payment on account so the amounts due do not come as a surprise. Where your circumstances change during the year, we can review the position and adjust the approach accordingly.

There is no single list that applies to every dentist, because allowable expenses depend on your employment status, your business structure and the nature of the cost. Costs commonly considered include indemnity cover, professional registration and body subscriptions, continuing professional development, certain equipment and materials, and practice-related running costs where you are self-employed or a practice owner. Some items, particularly larger equipment purchases, may be treated differently from routine expenses. We review what you spend and advise on what is likely to be claimable in your circumstances.

Yes, where those services are relevant to your practice. Payroll support can cover practice employees, including payslips, RTI submissions and pensions auto-enrolment obligations where they apply. VAT support can include reviewing whether registration is required, preparing and submitting returns, and helping you understand how different income streams and costs feed into your VAT position. Whether your practice needs these services depends on its size, turnover and how it is structured, so we discuss that with you first.

There is no universally right answer — it depends on your profits, how you take money out of the business, your plans for the future and your tolerance for additional administration. A limited company can suit some practice owners, while others find a partnership or sole trader structure more appropriate for their circumstances. The tax and compliance consequences of each differ, so it is worth reviewing your position before making a change rather than assuming one structure is always better.

As a general principle, you need records that show your income and expenditure clearly and support the figures in your tax return or accounts. For dentists that usually means tracking NHS and private income separately, keeping associate payment statements, recording practice costs, retaining receipts for equipment and materials, and holding details of professional expenses such as indemnity and registration. Good records also make it far easier to deal with any HMRC enquiry and to see how your practice is actually performing.

Switching is usually simpler than people expect. We start by discussing your current arrangements and what you need, then we can contact your existing accountant to request the handover of your records and any outstanding information. Once everything is in place, we review your position, confirm what needs to be filed and when, and take over the ongoing work. If there are deadlines approaching at the time you approach us, we can factor that into the process.