Use your Q1 figures to improve your business and tax position
June 25, 2014
The end of June marks the end of the first quarter of the 14/15 tax-year and typically the first quarter of your financial year if you make numbers to 31 March, which makes sense for most dentists and doctors. So what do your Q1 financial figures mean? What truths do they hold for the rest of the year? How can you use these figures to improve your business and tax position? Successful and profitable business owners know the answers to these questions.
Ensure and insure your IHT bill is nil
June 23, 2014
Gift income or wealth to loved ones and die within seven years and you are likely to be subject to Inheritance Tax (IHT) on a sliding scale, depending on the gift date.
An easy way for dentists to manage CPD
June 19, 2014
As a dentist you are obliged to carry out Continued Professional Development (CPD) each yea. In the age of technology where we all carry a mobile phone and many now an I-pad, why not also manage your CPD on your mobile device?
Important tax dates for doctors and dentists
June 16, 2014
You have a personal responsibility to keep on top of your tax position in terms of timely filing and timely payments. Here is a handy check list of those dates you should be putting a ring around in your diary.
How to delay your tax bill by careful timing
June 15, 2014
Payments of remuneration such as salary and bonuses are a tax-deductible expense for a limited company. The tax however is payable by the employees or the directors as recipients, however, with a little careful tax planning, the tax relief for the company can be claimed up-front whilst the payment of tax for the directors or employees can be delayed to future tax periods. Find out how…
What can I claim for tax relief when I attend a seminar overseas?
June 14, 2014
In this article we explain the regularly misunderstood matter of what can be claimed when travelling overseas for a seminar, course or conference. Doctors and dentists regularly visit other countries around the world for educational purposes, but where is the line drawn for what is tax deductible and what is considered personal use? Read more…
Inheritance Tax Update – get IHT savvy now!
June 13, 2014
Inheritance tax can be a complex subject and a particularly unfavourable tax, not to say mention a pretty gloomy matter of facing our fears relating to death. Nevertheless, it requires acknowledgment and since the tax hit can be hard when it comes to Inheritance Tax (IHT) it is best practice to get IHT savvy now and make use of the allowances and peripheral options available. Read more…
Important P11D benefit form filing date
June 13, 2014
Company car or phone? The P11d ‘benefit in kind’ form filing deadline is fast approaching. If you have a company car, telephone, travel card or other benefits Figurit can help prepare your P11d.
New pension tax relief auto calculator
June 12, 2014
Since tax relief was reduced from £50,000 to £40,000 in 2014, HMRC have made an updated calculator available to work out the annual allowance for tax relief on pensions, taking into account any unused allowances.
Tax abuse crackdown – doctors and dentists are targeted
June 2, 2014
With an overall target of £100 billion to recover before 2015, HMRC have stepped up their investigations into tax abuse, and doctors and dentists have found themselves as easy targets!
