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Dental Seminar & Networking. Presentation by Peter Brassington & Philip Waine. HMRC clawed back over £13million in underpaid taxes in two years Over 1,5000 disclosures generated £10million Over 1,000 investigation generated £3million One dentist paid in excess of £300,000.
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Dental Seminar & Networking Presentation by Peter Brassington & Philip Waine
HMRC clawed back over £13million in underpaid taxes in two years • Over 1,5000 disclosures generated £10million • Over 1,000 investigation generated £3million • One dentist paid in excess of £300,000
Accounting issues • Fees receivable • Debtors – NHS & Private • Payment received in advance • Work in Progress
Tax investigations and problems • HMRC very interested • Private and personal expenses • Completeness of income • Inspection costs • Ash Cash • Use of home • Personal use estimates
Plant and Machinery • Can be difficult to quantify • Planning of capital expenditure necessary • Specialist lenders available • Significant elements of surgery • AIA decreasing • Can be difficult to quantify
5 Ways to Protect your Practice • Practice Capital Expenditure • Formalised Agreements • Practice Premises • Timely Record Keeping • Proactive Advisers
7 Christie Fields Christie Way Manchester M21 7QY Tel: 0161 249 5040 Email: partners@leonherman.co.uk
