Specialist Dental Tax & Accounting Advice
Dentists
Clear, hassle-free support for dentists with fixed fees.
At Shipleys Tax, we’ve been working with the dental profession for over 15 years – providing clear, proactive advice that help dentists optimise tax, protect profits, use tax efficient structures to grow, or just become a financially savvy individual.
We act for dental clients all over the UK, including:
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Associates and single-handed/squat practices
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Larger partnerships and corporates
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Dental clinics, hygienists, consultants
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Specialists such as orthodontists, endodontists, oral surgeons, and periodontists
With NHS pension and contract reforms, staff shortages, rising costs, and pressure to expand into private work, working in a dental business has never been more complex. At Shipleys Tax we help you stay compliant, reduce tax burdens, and plan strategically so you can focus on your life goals.
Sections
- Dental Principals and Practices
- Dental Associates and Self Employed DCPs
- Tax Planning services for Dentists
Dental Principals and Practices
Owning or running a dental practice brings both opportunities and risks. With NHS dentistry undergoing fundamental reforms, practice owners need to adapt to new funding models while keeping control of costs and cashflow.
At Shipleys Tax, we help principals and practice owners with:
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Specialist knowledge of NHS practice funding (including GDS/PDS contracts and NHS England reforms)
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Specialist guidance on NHS pension and superannuation issues
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Advice on UDA values, contract changes, and the evolving primary care dental market
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Handling all aspects of accounting, tax compliance, and partner drawings so you can focus on clinical care
Why choose a specialist dental accountant?
Not all accountants are the same. You need an adviser that understands the realities of dental practice management and can spot opportunities for tax savings that general accountants may miss, as well as access to specialist dental tax advisers with many years expertise in the field.
Why do you need a specialist dental accountant?
• Specialist knowledge of NHS general practice and the expert experience we have can be instrumental in planning your next move
• Understanding how practices are funded by NHS England (ex-PCTs)
• Be familiar with the GDS/PDS provider contracts, the dental contract reforms and the impact of the NHS pension scheme
• Be up to speed on UDA values in practice and the developing primary care dental market.
• Deal competently and promptly with all taxation matters and with dentists’ superannuation.
Why Shipleys Tax?
We aim to do more than produce the annual accounts and handle the principals’ tax affairs – we act as your strategic tax partner.
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Personal service – one partner-led team, not a call centre
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Timely – we work to agreed timescales and visit practices to discuss results
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Proactive – cashflow, drawings, and bookkeeping support included
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Tax planning built-in – from reducing income tax and corporation tax to CGT, inheritance tax, SDLT, and succession planning
At Shipleys Tax we understand the specific needs of dental practices and the partners involved. Wholesale reforms to the NHS mean dental practices need to re-position themselves in the new system and be able to devote maximum time to administration of patient care. That is where our team can help by providing specialist knowledge on your accounting and tax matters leaving you to concentrate on the patients and, ultimately, your life goals.
With nationwide coverage, we work with dental practices all across the UK.
Fees
What out basic annual fee covers:
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Preparation of annual statutory accounts
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Partnership tax return and tax computation
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Partners’ personal tax returns
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Profit projections and liability planning
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Meetings with principals to discuss draft accounts
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Unlimited email and phone queries
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Ongoing tax planning reviews for partners/shareholders
We also advise on:
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Incorporation and restructuring for NHS and non-NHS income
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Practice purchase or sale (structuring for maximum tax efficiency)
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HMRC enquiries and investigations
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Payroll and employment tax compliance
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Succession, IHT, CGT, and SDLT mitigation strategies
Dental Associates and Self Employed Dental Care Professionals (DCPs)
We’ve supported dental associates, hygienists, and therapists for many years and understand the challenges of balancing NHS work, self-employment, and private income.
What does the service include?
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Registering with HMRC and advising on employed vs self-employed status
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Claiming tax-deductible business expenses and subscriptions
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Annual accounts and self-assessment tax returns
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Guidance on NHS superannuation and student loan deductions
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Advice on employing a spouse and structuring income tax efficiently
- Ad-hoc telephone and email advice
Additional advisory services:
- Tax efficient structures for associates/hygienists/therapists
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Limited company incorporation and its impact on income extraction and superannuation
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Finance routes for practice acquisitions (ethical and standard)
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Tax planning for overseas dentists
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Inheritance tax and property tax planning
Many dental associates after a few years aspire to have a practice of their own. We will handhold you through the whole process including:
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The most tax-efficient way to structure ownership
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Due diligence on target practice accounts
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Introductions to specialist dental solicitors and lenders
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Advice on staff, payroll, record keeping and surgery compliance
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Tax planning to ensure the deal is optimised from day one
Why us?
• Save you money – proactive services ensuring you are aware of tax savings
• Knowledge you can trust – we have a wealth of tax expertise in the healthcare sector
• Planning – ensuring you are aware of tax liabilities and payment dates enabling you to plan your cashflow
• Peace of mind – we have many years of experience in dealing with the tax affairs of medical and hospital consultants
• Help you minimising risk of HMRC enquiry
• We have nationwide coverage and act for Dentist clients based throughout the UK.
Our basic fees start from £495 + VAT for associates.
|
Package |
Annual Fees (from) |
What’s Included |
Best For |
|---|---|---|---|
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Essential |
£495+VAT |
Annual accounts & self-assessment tax return – Guidance on allowable expenses & record keeping – HMRC registration support (if required) – Telephone/email queries |
New associates or hygienists needing straightforward compliance |
|
Pro |
£695 + VAT |
Everything in Essential, plus: Proactive NHS superannuation guidance – Cashflow planning & tax liability forecasts• Advice on employing a spouse & NIC structuring – Regular contact with our dental tax team |
Established associates looking for proactive planning and support |
|
Premium |
£995 + VAT |
Everything in Professional, plus: Incorporation and company tax planning advice – Mortgage & loan support (liaising with banks) – Practice acquisition guidance – Tailored inheritance tax & property tax planning |
Associates preparing to buy a practice or seeking advanced planning |
Tax Planning for Dentists
Tax law never stands still – especially in healthcare. With NHS reforms, rising costs, and increased focus on private income, proactive planning has never been more important.
The most effective tax planning is typically done before a major event, so seek advice early on in the lifecycle of a business or personal financial transaction.
Our specialist tax advisers can help with:
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Buying or selling a practice – saving on both personal and corporation tax
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Structuring dental/health clinics tax-efficiently
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Inheritance tax and estate planning for dentists
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Reducing SDLT on property purchases
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Asset protection and succession planning
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Offshore and international tax for cross-border practices
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Property development and investment structuring
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Using EIS/SEIS and corporate vehicles for expansion
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LLP and partnership planning
Why Dentists Choose Shipleys Tax
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15+ years’ proven expertise in the dental sector
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Proactive tax planning tailored to NHS and private practice needs
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Nationwide coverage with partner-led personal service
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Transparent pricing and ongoing support
Latest news & blogs…
Digital reporting for income tax delayed
THE GOVERNMENT HAS announced a further delay to the introduction of Making Tax Digital for Income Tax Self-Assessment, the government’s attempt to fully digitise the tax return sphere.
What is Making Tax Digital for Income Tax and why is there a delay? In today’s Shipleys Tax blog we look at the next step in the UK government’s master plan of the much vaunted “digital tax revolution”.
What is Making Tax Digital for Income Tax Self-Assessment?
This is essentially a personal tax reporting process designed to ultimately replace the current annual Self-Assessment tax return dubbed Making Tax Digital for Income Tax (MTD for ITSA).
Under MTD for ITSA, it is proposed that businesses, self-employed individuals and landlords will need to:
- keep digital records (much for like VAT records currently),
- send quarterly summary of their business income and expenses to HMRC using MTD-compatible software, and
- file quarterly estimated tax calculations based on the information provided to help them budget for their tax.
This is essentially a personal tax reporting process designed to ultimately replace the current annual Self-Assessment tax return dubbed Making Tax Digital for Income Tax (MTD for ITSA).
At the end of the year, they can make adjustments to finalise their tax affairs using MTD-compatible software. This will replace the need for a Self Assessment tax return. Clearly, not the simple overhaul the government would have us believe.
So what was the original plan?
Before today’s announcement, MTD for ITSA was mandated from April 2024 for taxpayers with a total gross income over £10,000 from self-employment and property in a tax year.
And now?
In a statement released on 19 December, the government finally acknowledged that MTD ITSA is a significant change for all concerned, and that launching a much criticised process during an economic crisis is not really the best thing to do. As such the plans have been revised as follows:
- MTD for ITSA will now be delayed until April 2026, with the self-employed and landlords with turnover in excess of £50,000 joining first.
- Those with income over £30,000 but not exceeding £50,000 will not need to join until April 2027.
- A start date for general partnerships has not yet been announced.
The government will also now review the needs of smaller businesses before asking those earning less than £30,000 to join.
Given the expected additional costs and administrative burden for small businesses this will undoubtedly be a very welcome change. However, HMRC will have its work cut out when operating different systems for self-assessment customers so further delays could well be on the cards.
If you are affected by any of the issues above and would like more information, please call 0114 272 4984 or email info@shipleystax.com.
Please note that Shipleys Tax do not give free advice by email or telephone.
How to benefit from the £1,000 tax free property allowance
MAKING DECENT RETURN from rental income is getter harder and harder due to tax legislation changes and increasing costs. However, there is a small tax allowance which may help you turn a loss into a profit – all potentially tax free.
When paying tax on property income, there is a £1000 property allowance which allows you to earn up to £1,000 tax free. This allowance can be used in various beneficial ways.
In today’s Shipleys Tax blog we explore the many ways you can use your £1000 property allowance and start to maximise your rental income in some circumstances.
Tax exemption
If your income from property is less than £1,000, the property allowance allows you to receive that income free from tax. Where the income is covered by the allowance, you do not need to tell HMRC about it.
However, claiming the allowance may not be beneficial if your property income is less than £1,000, but your expenses are more than £1,000 so that you make a loss. Claiming the exemption will mean that the loss is lost. To preserve the lost, you must provide HMRC of details of your income and expenses on your tax return.
However, as the loss can only be set against future profits from the same property income business, if you do not expect future receipts to exceed £1,000, there may be little benefit claiming the loss. You may prefer instead to take advantage of the exemption, saving the work associated with establishing the loss.
Expenses less than £1,000
The property allowance can also be beneficial if your income from property is more than £1,000, but your expenses are less than £1,000. Where this is the case, you will not benefit from the exemption, but you can instead deduct the property allowance of £1,000 to arrive at your taxable profit. This will give a favourable result.
Example
Wendy has income of £3,000 from letting a flat. Her associated expenses are £600. Under the normal rules, her taxable profit is £2,400.
However, she can claim the property allowance and deduct £1,000 rather than her actual expenses of £600. This reduces her taxable profit to £2,400.
Jointly-owned property
Where a property is jointly-owned, each owner can benefit from the property allowance in respect of their share of the income. Where this is less than £1,000, the income is exempt and does not need to be reported to HMRC; where this is more than £1,000, the allowance can be deducted instead of actual expenses where this is beneficial.
If you are affected by any of the issues above and would like more information, please call 0114 272 4984 or email info@shipleystax.com.
Please note that Shipleys Tax do not give free advice by email or telephone.
Autumn Budget Statement 2022
THE CHANCELLOR Jeremy Hunt belatedly announced his Autumn Statement today heralding a new phase of austerity and sneaky tax rises.
Here at Shipleys Tax we briefly look at what’s changed… again.
Personal tax
The Chancellor maintained that there were no increases to the headline rates of tax. However, this is somewhat misleading and does not mean that individuals won’t pay more income tax, quite the opposite in fact.
- The threshold at which the 45% rate of income tax kicks in will be reduced from £150,000 to £125,140 from 6 April 2023.
- The personal allowance will remain at the current level until April 2028. As wages are increasing, albeit at a lower rate than inflation, this means that earners will start to pay income tax. The freeze on the 40% tax rate threshold is paid has also been extended by two years to 2028.
- The tax-free dividend allowance will be cut to £1,000 from April 2023 then to £500 the from April 2024.
National Insurance
The employment allowance will remain at the current level of £5,000. The main NI thresholds will also be held at the current level until April 2028 meaning the amount businesses and individuals pay will increase.
Capital gains tax (CGT)
There is no change to the CGT rates, but the annual exempt amount will be cut from £12,300 to £6,000 from 6 April 2023, and then to £3,000 from April 2024.
Corporate Tax changes
- Confirmation of the increase in Corporation Tax to 25% from April 23.
- The £1 million level of the Annual Investment Allowance is being made permanent.
- R&D tax reliefs – for expenditure on or after 1 April 2023, the SME additional deduction will decrease from 130% to 86%.
Stamp Duty Land Tax (SDLT)
The increase in stamp duty land tax allowances to £250k for residential property will be retained, but only until 31 March 2025.
Company cars
- Electric vehicles will no longer be exempt from vehicle excise duty from April 2025.
- First Year Allowance for electric vehicle chargepoints – 100% First Year Allowance for electric vehicle chargepoints will be extended to April 2025.
Other announcements
- IHT – the nil rate band which is the amount an individual can leave tax free on death, will be frozen at £325,000 for a further two years until 2028.
- The energy profits levy will increase to 35% from 25% and extended from four to six years.
- National living wage to increase to £10.42 per hour from 1 April 2023.
- Tax avoidance – the government is investing a further £79 million over the next 5 years to increase HMRC’s capacity to tackle serious fraud, and to reduce non-compliance among wealthy taxpayers.
If you are affected by any of the issues above and would like more information, please call 0114 272 4984 or email info@shipleystax.com.
Please note that Shipleys Tax do not give free advice by email or telephone.
Testimonials
“We value the close working relationship we have with Shabeer and the specialist teams at Shipleys Tax...(read more)
Dr K, GP Surgery – Yorkshire
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FM Medical Practice – Manchester
“Accountants seem to promise the earth but don’t deliver do they? Well we found the opposite. Abdul made himself... (read more)
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