01243 776938
info@jamestoddandco.co.ukSPECIALIST INDUSTRIES
Accountants for Dentists
James Todd & Co provides accounting, tax and business advice for dentists, associates, hygienists and dental practice owners across the UK. We help clients understand their figures, meet their obligations and make informed decisions about their next stage of growth.
What our clients say
"We have worked with Michelle and Kevin for many years. We were a small Partnership when we started using them for our annual accounts; as they grew as company so did we. With all their expertise and advice we turned our 500K turnover business into a 3.5 million Turnover business. They do our monthly management accounts and review and advise us on strategies to help us continually grow. The wide range of services they offer is amazing from Tax advice to Payroll and much more!" - Danny Knight, Director, Knight Fencing Ltd. - client since 2007
"Running your own business can be incredibly stressful, You need someone you trust who is on your side and who you can call whenever you need help or advice. I have that with James Todd & Co." - Julia Haviland, Director, Brittain Marketing Services Ltd
"James Todd & Co have been our accountants since 1997 and have provided excellent services throughout our time together. They have undertaken our CIS, Payroll, VAT and end of year accounts during this period and have been excellent throughout. They have a great team, all of which are a credit to the company." - Steve Carder, Director, Facilities Fire Protection Ltd - client since 1997
Accounting and Tax Support for Dental Professionals
Good financial support should do more than record what has already happened. It should give you confidence that your obligations are under control and help you understand how current decisions could affect your future position.
Our accountants for dentists can provide coordinated support across your annual dental accounts, tax, bookkeeping and business planning.
Annual Accounts and Dentist Tax Returns
We prepare annual accounts and tax returns using accurate, complete financial records. For practice owners, this can include reviewing the different sources of income and expenditure within the practice. For associates and self-employed dental professionals, it includes bringing together professional income, allowable business costs and other information relevant to the return.
Tax Planning and Compliance
Tax planning should reflect your actual working arrangements, personal objectives and business structure. We can help you consider income tax, Corporation Tax, National Insurance, profit extraction and the tax implications of significant business decisions.
Advice is provided in the context of current legislation and your individual circumstances. We do not assume that incorporation is always the most suitable or most tax efficient option for a dentist.
Bookkeeping, Payroll and Cloud Accounting
Accurate records make it easier to complete accounts, monitor cash flow and make timely decisions. James Todd & Co can provide outsourced bookkeeping support for practices that want to reduce the time spent maintaining their financial records.
We can also assist with payroll and help practices introduce cloud-based accounting. This can give you and your advisers access to more current information while reducing reliance on paper records and disconnected systems.
Management Accounts, Cash Flow and Practice Performance
Annual accounts are important, but they may arrive too late to guide decisions being made throughout the year. Regular management information can help you assess profitability, control costs, prepare for tax payments and plan investment with greater confidence.
Our quarterly reviews and management accounts can provide a clearer view of financial performance and create a regular opportunity to discuss the figures with your accountant.
Who Our Dental Accountants Support
Dental professionals need different advice at different stages of their careers. We tailor our work to the person, practice and commercial arrangements involved.
Dental Practice Owners and Practice Groups
We help owners manage their accounting and tax responsibilities while maintaining a clearer view of cash flow, costs and profitability. Support can develop as the practice grows, takes on new clinicians, invests in equipment or considers a change in ownership.
Associate Dentists and Self-Employed Dentists
Accountants for associate dentists need to understand more than the figures supplied at the end of the year. Working patterns, contractual terms, expenses and employment status can all affect the correct accounting and tax treatment.
We can prepare accounts and tax returns, review business costs and help associates understand the financial implications of remaining self-employed or considering a company structure.
Dental Hygienists and Therapists
We also support hygienists and therapists with accounts, tax returns, record keeping and business structure questions. The right approach will depend on how you work, who controls the work and the terms agreed with each practice.
Dentists Buying, Starting or Selling a Practice
A major transaction can affect your finances for many years. We can help you assess financial information, consider the proposed structure and understand the tax implications before commitments are made.
Should a Dentist Trade as a Sole Trader or Limited Company?
There is no single structure that is right for every dentist. A limited company may offer advantages in some circumstances, but the decision should not be based on a simple comparison of headline tax rates.
As a sole trader, you report business profits through Self Assessment and remain personally responsible for the business. The structure is usually simpler to administer, although your tax position will depend on profit levels and your wider circumstances.
A limited company is a separate legal entity. It brings additional filing, accounting and director responsibilities. The company pays Corporation Tax on its profits, while tax may also arise when money is taken from the company as salary, dividends or benefits.
Before forming a dental company, it is important to consider:
- Whether any NHS contract can be held by or transferred to the proposed company
- The terms of your associate agreement or practice arrangements
- How much of the profit you need to withdraw personally
- Your pension, borrowing and longer-term ownership plans
- The administrative cost of operating a company
- Your employment status and the possible relevance of the off-payroll working rules
Working mainly for one dental practice does not automatically determine your status. The full working relationship matters, including control, personal service, substitution, financial risk and the obligations of each party.
We can review the accounting and tax considerations with you, but contractual and legal points may also require advice from a solicitor with relevant dental experience.
Buying or Selling a Dental Practice
Early accounting and tax advice can help you understand a proposed transaction before you make a binding commitment. It can also identify questions that need to be addressed by your lender, solicitor or other professional advisers.
Buying a Dental Practice
When buying a practice, we can help you review the available financial information and test the assumptions behind the proposal. This may include considering historic accounts, current trading results, cash flow, funding requirements, working capital and the proposed purchase structure.
Financial due diligence should be proportionate to the transaction and coordinated with legal and commercial enquiries. Its purpose is to help you understand what you are buying, how the practice has performed and which financial risks require further investigation.
Selling a Dental Practice
Planning ahead can make it easier to present reliable financial information and understand the tax consequences of a sale. The treatment may differ depending on whether the transaction involves business assets or company shares, as well as the circumstances of the owners.
We can assist with preparing and explaining financial information, considering the tax position and working with your other advisers during the transaction.
A Clearer View of Your Dental Practice Performance
Reliable management information can turn financial records into a practical tool for running the practice. Rather than waiting until the year-end, you can review results regularly and respond sooner when performance changes.
Depending on the information available and the way the practice operates, reporting may help you monitor:
- Revenue and profitability
- NHS and private income
- Staffing and laboratory costs
- Cash flow and upcoming liabilities
- Investment in equipment and premises
- Results against budgets or forecasts
Regular reviews also create space to discuss recruitment, capacity, funding, expansion and longer-term objectives. We present the figures clearly so that decisions can be based on evidence rather than assumptions.
Trust us we’re Xero and Sage experts
What we offer at a glance
Full accounting service
Quarterly review and management accounts
Why Choose James Todd & Co as Your Dental Accountants?
Our approach combines essential compliance work with practical advice. We take time to understand how you work, explain financial information clearly and consider the wider impact of business decisions. Our broader team can support accounts, tax, bookkeeping, payroll, cloud accounting, management reporting and business planning, giving you access to coordinated advice as your needs develop.
We are regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales and are a member of the ICAEW Practice Assurance Scheme.
Contact Specialist Dentist Accountants
Dentist Accounting FAQs
Do Dentists Need a Specialist Accountant?
What Expenses Can an Associate Dentist Claim?
How Does an Associate Dentist Complete a Tax Return?
Can an NHS Dental Contract Be Held by a Limited Company?
Does IR35 Apply to Associate Dentists?
When Should I Appoint an Accountant When Buying a Dental Practice?
Ideally, involve an accountant before signing a binding agreement. This allows time to review the financial information, consider funding and working capital, and assess the accounting and tax implications of the proposed structure.