Congratulations to all the newly qualified associate dentists, this is the time of year when associate dentists embark into self employment having just finished their VT year following qualification. It is therefore important to ensure that they speak to an accountant for help in the do’s and don’ts of self employment.
It is even more important to speak to an accountant that has the necessary skills and experience to act for dentists and not an accountant that may act for other professions or trades and thinks there is no difference between them, when there definitely is. We at Alexander Myerson & Co Limited specialise in acting for dentists and are proud members of NASDAL – the National Association of Specialist Dental Accountants and Lawyers, we act for many dentist locally and nationwide.
Over the past few weeks we have been seeing many new associate dentists and are pleased to be acting for them and dealing with their accountancy and tax affairs. This process often starts with us informing HMRC that they will be commencing as self employed dentists . This first step is very important as failure to inform HMRC of commencement of self employment can result in fines for failure to notify and not really a good way to start your relationship with HMRC!!!
We are seeing not only locally qualified dentists who have qualified in Liverpool but graduates from Manchester, Leeds and Kings College London amongst others. It does not matter if you are not working locally as we do act for dentists up and down the country as our reputation for providing a first class service to dentists spreads throughout the country.
We have produced a guide specifically to help newly self employed associate dentists, which answers some of the questions you may have such as:
- what records should I keep?
- when do I pay tax?
- how do I pay my student loan?
- what expenses can I claim against my income?
If you would like a copy of this helpful guide, please contact us and we will email it to you. Additionally if you would like to arrange a free one hour consultation then please get in contact with us.