Have you exceeded the pension contribution limit for 2012?

As you may know, each individual has a pensions annual allowance which limits the amount of tax relief that can be claimed in a year on the pension contributions that have been made.  The annual allowance in the year ended

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Tax saving tips for spouses in 2012-13

Moving savings or investments between husband and wife or civil partners can reduce a couple’s overall income and/or capital gains tax bill, which has to be good news! Everyone in the UK has a personal allowance on which they can

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Tax credits for self-employed people

As you have probably heard, the Government is introducing a new ‘Universal Credit’ to replace both unemployment benefits and Tax Credits. One effect will be to make it more difficult for self-employed people to claim any Credit, and in many

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Tax efficient motoring

Running a car is a significant expense, so where there is a choice of vehicles, or a choice between buying a car yourself, or buying it through your company, it is always worth keeping the tax consequences in mind.  Here

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Whether or not to top up National Insurance contributions

Q: “I received a letter from HMRC a while ago stating there is a gap in my national insurance contributions for tax year 2007-08, and giving me the option of paying £200 to make this year count. Do you think

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Maintaining proper accounting records

What are the proper accounting records and how should I organise these? HMRC expect you as a practice owner to maintain proper accounting records and there are financial penalties if such records are not kept and regularly updated.  Keeping accounting

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Would your patients trust you as an experienced dentist if you only had 5 patients?

A specialist dental accountant explained … Nowadays being a specialist in your given field definitely helps convince prospective clients you are the way to go.   When there are a number of options as to who you place your custom with

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Money saving tips for dental care professionals

I met recently with a client who has spent more than half his life building up two successful dental practices in the north of England. We discussed a raft of business issues and he spent much of the time making

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When working in the dental profession what do I need to think about when it comes to pensions?

At this time, with public service pensions in the news for various reasons, you may need to consider your own situation within the NHS scheme. If you are undertaking NHS work and elect to be in the NHS Pension Scheme

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Healthcare Staff – Dental Nurse: Claim for Laundry Expenses and Subscriptions

If you have to wear a uniform to do your job and your employer does not deal with the cleaning arrangements or provide free laundry facilities for you to use, you can get tax relief for any costs of cleaning

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Preparing your practice for sale

Lack of planning may result in you selling your practice for a lower figure than its potential value, possibly to the wrong acquirer, and perhaps even at the wrong time, says Nick Stewart You may own only one practice during

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Ask the expert: Finances

Continuing our series of articles where we give advice on your most frequently asked questions. Nathan Poole ACCA MAAT Nathan is a Chartered Accountant and business consultant, joining DBS in 1999 he now has over ten years’ experience working exclusively

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