Medical
Opticians
Dental
Pharmacists
SMETax & Accounting Services for Dental Associates
For specialist accounting and tax solutions for dental associates, associate yourself with sial Accountants!
At SIAL Accountants we specialise in addressing the specific accounting and tax needs of dental associates, whether you are newly qualified or highly experienced, employed or independent.
The process of preparing self-assessment tax returns, accounts and record keeping can be daunting, so we provide you with the best guidance and support to fulfil any and all statutory requirements, keeping your finances on track and making sure you never miss a trick – or a deadline.
Accountants for Dental Associates
Why Choose Sial Accountants for your Dental Practice?
- Prepartion of Accounts
- Setting Targets, Tracking Performance, Benchmarking and Financial Analytics
- VAT, Corporate and Personal Tax
- Budgeting, Forecasting and Cashflow Planning
- Bookkeeping Services
- Payroll and National Insurance
- Compliance Issues
- Organisational Structure, including Partnerships and Limited Company Set-Up
- Acquisition and Exit Strategies
As a Dental Associate, I’m sure that without Sial’s expertise behind me, I would have wasted a lot of time and money. Having them on my side has been a real reassurance, and that I’m starting out along the road to having my own practice, Usman’s wisdom has been invaluable, giving me the confidence to push forward more quickly than would otherwise have been the case.
David F, Dental Associate, Essex
Associates' Accounts
Preparation of associates’ annual accounts, annual drawing projections for associates, cash flow forecasts, budgeting and bookkeeping services, and advice on allowable business expenses
Incorporation
The pros and cons of being employed versus working as an independent contractor, the pros and cons of being self-employed versus working as a limited company, setting up your limited company, and registration for payroll and corporation tax
Taxation
Preparation of your personal tax returns, advice on tax allowable expenses and tax planning, preparation of company corporation tax returns, and advice on IR35 regulations
Other Services
Advice on purchasing a practice, including valuations and financing, advice on asset purchase, including financing arrangements, and mortgage reference certificates
What Makes Us Different?
All our clients benefit from personalised, tailored solutions, because everyone’s circumstances are different. Only once we know yours can we formulate the most cost-efficient approach, and create a package that suits you. And help you to transition smoothly from your existing advisor.
Answers from Our Dental Associates Specialist Accountants
Frequently Asked Questions
Choosing the right accountant for your dental associates is crucial. Dental Associates in the UK have specific tax and accounting needs that differ from practice owners due to their employment structure, income sources, and tax obligations. We provide tailored accounting and tax services, including tax filing, financial planning, expense management, and advisory support for self employed dental associates.
What are the main tax obligations for dental associates in the UK?
Dental associates typically need to file a Self-Assessment tax return, pay income tax, and cover National Insurance Contributions (NICs) based on their self-employed status.
What expenses can dental associates claim on their tax returns?
Dental associates can claim allowable expenses, such as professional fees, equipment, training, and travel costs, provided they are necessary for work and meet HMRC guidelines.
Do dental associates need to register for VAT?
Most clinical work provided by dental associates is VAT-exempt, but certain additional services may require VAT registration. We can help assess if VAT applies to your services.
Do dental associates need to contribute to a pension scheme?
As self-employed professionals, dental associates are responsible for their own pension contributions. We offer guidance on setting up tax-efficient pension plans.
Can dental associates set up a limited company?
Yes, some dental associates choose to incorporate as limited companies for potential tax savings. We can help determine if this structure suits your financial goals and circumstances.
How can tax planning benefit dental associates?
Tax planning helps minimise liabilities through careful expense management, claiming all allowable deductions, and preparing for tax obligations like payments on account.