HMRC have a new online tool for small businesses! The Business Tax Dashboard enables users access to one central place to view their tax position across various taxes, including self-assessment and corporation tax plus PAYE.

HMRC have instructed a selection of Debt Collection Agencies to reclaim over £1.6 billion in overpaid tax credits. Overpayments occur when HMRC don’t hold up to date information so if your situation has changed and you claim tax credits, take action now to prevent this for next year.

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.

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.

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?

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.

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…

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…