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Taxation Services Taxation is a complex area that requires careful planning.Planning in such a way as to minimise tax as far as possible without taking an aggressive stand, is perfectly legal, and is known as Tax Avoidance This can be done through taking advantage of various schemes such as ISAs, VCTs, EISs etc. Minimising tax by way of fraud or under-declaring income is a punishable offence and is known as Tax Evasion. As part of our service, we do the following: ¨ Provide handy Checklists to help you send us everything that we need to prepare your accounts and tax return. ¨ Prepare your Income Tax and National Insurance Liability Computations and advise you of any payments to be made by specified dates. ¨ Prepare your annual tax return for your approval and submit it within the defined Inland Revenue timescale. (Provided you send us the information we require on time.) ¨ Provide Investigation Fee Protection Cover*. This means that if in the unfortunate position of having your affairs investigated by the Inland Revenue, an ex-Inspector of Taxes will handle the investigation on your behalf and any professional costs will be met by the insurers. ¨ Provide advice on general tax planning for your business. ¨ Liaise with the Inland Revenue on your behalf. ¨ When instructed, help you to plan your Personal Affairs in a tax efficient manner. As well as all of this, we also have a huge range of tax tips and advice in our library. We also produce regular newsletters, packed with tax tips specific to dentists. Personal Taxation In addition to the above, we can also assist you with your personal tax situation to include
Inheritance Tax can be one of the most expensive taxes if not planned in the correct way, especially in light of rising house prices. We can help you plan in an effective way to reduce the strain as much as possible. Capital Gains Tax is a complex tax in which it is possible to reduce your liabilities substantially by way of the various reliefs which are available. The key is knowing which reliefs are applicable, how they interact, and which one(s) would be most efficient in your circumstances. Stamp duty is often labelled "The Forgotten Tax" as many people forget about it given the low rates. However, although the rates are low, the circumstances to which they apply are usually not, which can equal potentially huge liabilities.
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"He (Mac) has helped me as my practice has expanded from single-handed to a six surgery/8 dentist practice." "Mac is always available to "pick his brains" and has a solution for any problem!" "He always offers sound independent advice on all financial and taxation affairs in a way that is easy to comprehend and follow." "He has helped me through my early associate days and is now proving invaluable in my journey towards practice ownership." "There is never anything I do in business or personal finance without first consulting Mac." |
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We take great pride in our service, and would be delighted to invite you for a free 1 hour, no obligation meeting at our comfortable offices. Simply call us on 020 8346 0391 to arrange a mutually convenient time. This web-site was last updated on 17/01/2012 Specialist Dental Accountants for over 27 years. Copyright © 2003-2011 Mac Kotecha & Company. All rights Reserved. The information on this site is for general guidance only. It is essential to take professional advice on specific issues about their impact on any individual or entity. No liability can be accepted for any errors or omission or for any person acting or refraining from acting on the information provided on this site. We can still help you if you're not a dentist. Please click here
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