Tax planning for dental and medical professionals

We get it – nobody likes paying tax!

As a dental or medical practice owner, you’ve worked hard for your money, so it’s understandable that you’ll want to hold on to as much of it as possible. As a firm of specialist accountants, Figurit’s role is to help you do just that: save money on your tax bills through short-term and long-term tax planning and maximise your wealth, while ensuring you remain compliant with the law.

Tax planning involves going through the financial facts of your life and business and doing an analysis of what can be changed, taking into account legislation that may provide the opportunity to save you money.

For the practice:

  • As specialists in structuring a business, Figurit will review your current set up to make sure it is the most efficient for tax purposes.
  • We’ll review your business to see if you qualify for any special government schemes, like R&D credits or capital allowances.
  • Figurit will also review your business expenses to ensure you claim the maximum amounts allowed for tax.

For practice owners:

  • We’ll help you plan a comprehensive tax mitigation strategy, to maximise personal funds for things like pensions, school fees, investments and holidays.
  • Figurit will help reduce your personal tax, by understanding your personal circumstances and exploiting opportunities to structure your affairs in the most advantageous way.

How we do what we do

A major aspect of our work at Figurit is saving clients from avoidable taxation through:

  • Being aware of, and conversant with, the various tax opportunities that exist.
  • Providing innovative tax-saving advice.
  • Working with clients on tax-planning matters.
  • Keeping clients informed of ideas to help mitigate their tax liability.
  • Dealing professionally with any tax enquiries.

Our specialist work includes:

  • Staff and director remuneration
  • Capital gains
  • Business Asset Disposal Relief (the old Entrepreneur’s Relief)
  • Property matters
  • Planning for retirement
  • Research and development (R&D) tax credits
  • Capital allowances
  • Director’s loan accounts
  • Undeclared income/gains
  • Tax enquiries and voluntary disclosures.

Figurit helps ensure dental and medical practice owners minimise their personal and business tax payments, both now and in the future.

Supporting practices in London and throughout the UK

To learn more about how our services can support you and your dental or medical practice and receive a free no-obligation meeting, contact us by calling us on 020 7376 9333 or use our contact form.

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