Dental Accountants in Norwich

At Eastfield Accountants, we understand the unique challenges and opportunities within the dental industry. Especially of the growing specialisation and emphasis on cosmetic dentistry.

The importance of a skilled accountant cannot be overstated when it comes to the success of your dental practice. By entrusting us with your bookkeeping and annual accounting needs, you can take confident strides towards shaping the future you envision, including the realisation of your dreams of establishing or managing a thriving private practice.

One common query from dentists is, "How can I build a successful practice?" Our advice remains consistent: treat your practice as you would any other business, built upon a solid foundation of operational excellence.

Dental practice accountancy

Implementing effective accounting systems and processes will empower you to track and manage your cash flow, while evaluating your practice’s procedures and systems. This approach ensures greater efficiency, maximising profitability.

For those employed by or managing a dental business in the UK, understanding the available tax relief options is crucial for improving your financial situation. Taking advantage of these opportunities can reduce your tax burden and boost your profits.

We can assist Associate Dentists and Practices with a wide range of matters, including:

  • Year end accounts
  • Self assessment tax returns
  • NHS pension calculations
  • Buy-to-let tax planning
  • Associate agreements
  • Mortgage references
Dental Accountants in Norwich

What dental accountancy services do we offer?

Accounts for dental associates

We conduct thorough assessments to identify tax-saving opportunities, ensuring you benefit from all available reliefs and exemptions relating to your circumstances.

Dental practice accounts

Plan ahead with our proactive tax planning strategies that consider the timing of asset sales and the reinvestment of proceeds, avoiding unnecessary financial pitfalls and optimising your tax position.

Payroll for dentists

Managing your payroll in-house is demanding and complex, with changing factors like overtime, sickness, and unpaid leave. Timely incorporation of these elements is vital for employee satisfaction and cash flow stability.

Outsourcing payroll to us is cost-effective and frees up your management time. Trust Eastfield Accountants to stay ahead of changes, ensuring accurate and well-planned wage bills.

In every case, our advisors are equipped to provide bespoke tax planning that aligns with your property portfolio and financial goals.

Dentist and dental associate expenses

Tax relief is crucial for dental business owners as it refunds money spent on essential business expenses, such as equipment purchases, professional services, and staff training. By claiming these deductions, you can lower your taxable income, reduce your tax payments, and enhance profitability.

Furthermore, tax relief can unlock opportunities for dental practice growth and investment. Expenses like upgrading equipment or expanding your clinic may qualify for tax relief, allowing you to recoup a part of your expenditure through deductions. This enables you to reinvest in your business without bearing the full financial load.

Buying a dental practice

Owning a dental practice, whether through acquisition or starting anew, can be a profitable path to secure your financial future. Private practices yield higher profits than NHS ones, providing a stable platform to leverage your expertise into long-term ownership and investment.

Dental accountancy FAQs

Can dentists claim back VAT?

Most dental services are VAT-exempt, meaning you can't reclaim VAT on related expenses. But, for non-health-related items subject to standard VAT rates, you might be eligible for partial refunds if your practice provides both exempt and taxable services.

Are dental treatments tax deductible?

In the UK, if the medical or dental treatment or insurance you provide is not exempt, you must report it to HMRC and may need to deduct and pay tax and National Insurance. For further details, please refer to the HMRC website.

My practice is not located in Norwich. Does this pose an issue?

Not in the slightest! The majority of our clients are not Norwich residents, and we cater to clients from across the UK. Email and phone communication work the same and will not lower the quality of service you can expect from us.

Partner with Eastfield Accountants with your dental practice

Let Eastfield Accountants navigate the financial landscape for your dental practice. Our expert guidance tailored to your specific needs, whether you’re selling a practice asset or managing your business portfolio.

Get in touch with our team to help your dental practice today.

Expert dental accountancy services with Eastfield Accountants

Related services

See below for other related services we provide to fully support your financial needs.

  • Bookkeeping
  • Annual Accounts
  • Cloud Accounting
  • Company Secretarial Services
  • Self Assessment Tax Returns
  • Payroll
  • Auto-Enrolment Pensions

Accounting, VAT

Bookkeeping

Accounting, VAT

Our exceptional bookkeeping service ensures accurate and organised financial records for businesses in the UK. As your dedicated experts, we take pride in maintaining meticulous records and helping you stay on top of your finances. Trust us to handle your bookkeeping needs with care and precision at every step.

Accounting

Annual Accounts

Accounting

At Eastfield Accountants, we take pride in offering our meticulous annual accounts service, providing accurate financial reporting and compliance for businesses in the UK. With our expertise, you can trust us to deliver thorough and reliable solutions that offer valuable insights for your financial decision-making. Count on us to make your annual accounts a breeze!

Accounting, VAT

Cloud Accounting

Accounting, VAT

Experience the convenience and efficiency of our cloud accounting service, designed to streamline financial management for businesses in the UK. We ensures secure and accessible digital solutions, allowing you to access and manage your financial data anytime, anywhere. Embrace the power of cloud technology and let us handle your accounting needs seamlessly.

Accounting, VAT

Company Secretarial Services

Accounting, VAT

Why burden yourself with complex company secretarial tasks when you can rely on our professional services? We will take care of all the administrative aspects, ensuring compliance and efficient corporate governance for businesses in the UK. Trust us to handle your company secretarial needs, so you can focus on what truly matters - growing your business.

Tax

Self Assessment Tax Returns

Tax

Effortlessly navigate the self-assessment process with our reliable services. We ensure accurate submissions and maximise your tax savings. Trust us to handle your self-assessment tax returns, providing peace of mind and efficient compliance.

Accounting

Payroll

Accounting

Streamline your payroll processes with our efficient services. We can handle payroll calculations, tax deductions, and payslip generation, ensuring accurate and timely payments to your employees. Trust us to manage your payroll, allowing you to focus on core business operations.

Accounting

Auto-Enrolment Pensions

Accounting

Ensure compliance with auto-enrolment pension regulations with our dedicated services. We handle pension scheme setup, employee assessments, and ongoing administration, making the process hassle-free for your business. Trust us to manage your auto-enrolment pensions effectively, providing peace of mind and secure retirement provisions for your employees.