Since early December 2015, there’s been speculation that HMRC is proposing to tighten tax rules on companies even further in 2016 and beyond. Already from 6 April onwards, tax rates on dividends from a limited company are being increased, the underlying idea being to tax income from a limited company at similar rates as self-employed…
We are still receiving a number of approaches from newly qualified dentists coming out of Foundation this year, who are not yet registered with HM Revenue & Customs as Self Employed. There are fairly strict time limits to do this, otherwise the fines are mandatory. Just as alarmingly, we are finding new dentists’ understanding of…
Is this a problem? It could be, without the right advice and guidance. Why the change? Your first set of accounts in your reporting period beginning on or after 1 January 2016 will be prepared under FRS102, a new accounting standard. The standard aims to improve reporting and consistency with international accounting standards. How the…
It has been announced, at the end of July, that Foundation Dentist Salary rates from 1 April 2015 are to be increased; clearly this will involve some back dating. As the exact monthly salary amount has yet to be precisely confirmed, it is very possible that this year’s Foundation Dentists will be owed a small…
Dental Superannuation rates remain virtually unchanged in 2015/16. However, the amount the NHS pays into your superannuation pot has been increased from 14% to 14.3% from 1 April 2015. The rates will now remain unchanged until 2019.
Minford have the honour of being the main sponsor of Ryedale Festival’s Triple Concert at Castle Howard on 23 July. The Festival, of which Johnny is a director, has become one of the top classical musical events in the UK calendar, and the sell-out Triple Concert one of its highlights. Each played a piece which…
What a time to consider spending money! More precisely, what a time to consider borrowing money against your family’s future in order to spend it! Does it make any sense? With some selling agents, it’s “Buy now! Buy now! Prices are only going up. Quickly! If you don’t buy it, someone else will!” Actually, I…
The Chancellor’s Summer Budget The Chancellor’s Summer Budget unfortunately did not produce a simpler tax system or less regulation for business. As usual there was an element of tweaking with allowances and it was a relief to see no increases in the main rates of income tax, VAT and NI. However, some important changes are…
Dental Practices have been busy preparing and submitting their Annual Reconciliation Reports before the deadline of 30 June. For the first time, all performers needed to agree the figures. We at NASDAL have put much work into the clarification of the situation over the past couple of years. The computations of superannuated pay needed to be…
