HM Revenue and Customs (HMRC) has produced the Tax for Dentists guide to help dentists understand their tax liabilities.
The guide includes:
- an overview of tax, National Insurance contributions and VAT
- help for the newly-qualified
- information on employing staff
- guidance on keeping business records
- business expenses
- help with completing tax returns
- information on paying HMRC
The guidance takes between one and two hours to complete. You can work through the e-learning at your own pace and at a time that suits you.
HMRC’s Mike Purvis said:
The e-learning tutorial is available online so that dentists can read it in their own time, when it is convenient. It’s in small sections, so doesn’t need to be read all at once. Dentists can read as little or as much as they like, and return to it as often as they need to, whenever it suits them.
Dentists need to understand their tax liabilities and will find these guides particularly helpful if they are becoming self-employed or treating private patients for the first time.
Marian Wilson, head of HMRC’s Campaigns, said:
We use what we learn from our campaigns to help develop new educational packages for the groups we target, to make sure people can get it right in the future by not repeating the mistakes made by others.
More than £10 million in unpaid tax and penalties has been paid voluntarily by over 1,500 medical professionals who used an HMRC campaign disclosure opportunity for dentists and doctors. This included a dentist who paid more than £300,000 and a doctor who paid more than £1 million.
To help new and small businesses, HMRC is running a Twitter Q&A on tax. To take part or ask a question, businesses should follow @HMRCgovuk on Twitter and use hashtag #biztaxhelp.