Accountants for Dentists in Coleby – Specialist Tax and Accounting Support

Associate dentists are usually treated as self-employed for tax purposes, which means you are responsible for reporting your income through Self Assessment and paying the tax and National Insurance that follows. Many associates find that professional support is useful because income often arrives from more than one practice, each with its own fee split and deductions for laboratory work or materials. An accountant can help you work out your true taxable profit, keep the supporting records in order and make sure your return reflects your actual arrangements.

Both NHS contract income and private treatment fees are generally taxable, but they can arrive in quite different ways — regular monthly payments in one case, variable patient fees in the other. Keeping the two streams clearly separated in your records makes it easier to reconcile income, track outstanding amounts and prepare accurate accounts or a tax return. Where a practice receives both, we can help set up a bookkeeping approach that keeps the reporting clear without duplicating work.

Yes. Where a practice trades through a limited company, the reporting obligations typically include annual accounts, a Corporation Tax return and company payroll for any staff, alongside your own personal tax position if you are a director or shareholder. We can manage the company side of things and consider how salary, dividends and pension contributions interact with your personal tax. Whether incorporation is the right structure depends on your circumstances, so it is worth reviewing before making changes.

There is no single list, because what is allowable depends on your employment status, your role and whether costs are incurred wholly and exclusively for your work. Costs that dentists commonly ask about include indemnity cover, professional body subscriptions, registration fees, continuing professional development, protective clothing, laboratory charges and equipment. Some are straightforward, others need closer consideration, particularly where an item is used for both professional and personal purposes, so it is worth checking rather than assuming.

Yes, payroll is a common part of dental practice accounting, covering nurses, receptionists, hygienists, therapists and practice managers. It involves calculating pay, deductions and employer contributions, and reporting to HM Revenue & Customs under Real Time Information, along with issues such as holiday pay, statutory payments and pension auto-enrolment duties. We can handle this on a regular basis so it is prepared accurately and on time, or review your existing arrangements if you already have a system in place.

VAT in dentistry is not a simple yes-or-no question. Many dental treatments are exempt, but others — often those that are purely cosmetic rather than necessary for oral health — can fall outside that exemption. Whether you need to register also depends on your turnover and the nature of your supplies, and different income streams may be treated differently. Because the rules are detailed and can change, we would review your specific services and income before advising on registration or how it should be accounted for.

Yes, and it is usually less disruptive than people expect. We handle the handover with your existing accountant, including obtaining the information we need to take over the records and filings. It helps to have your latest accounts, tax return, bookkeeping records and details of any outstanding HMRC matters to hand, but we can guide you through what is needed if something is missing. Switching is often a good moment to review your structure and make sure nothing has been overlooked.

For most dentists, the starting point is a clear picture of how you work: your contracts or agreements, whether you are self-employed or employed, how your practice is structured, and where your income comes from. From there we would typically look at recent accounts, tax returns, bookkeeping records, payroll details, VAT records where relevant and any correspondence with HMRC. If you are not sure what you have, that is fine — part of the initial conversation is working out what exists and what needs to be put in place.