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Self employed dentist and director of a limited co

What is the most tax efficient way of optimising income and expenses from SE income & director of co

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Can a self employed dentist who works as an associate in someone else's dental practice say 2 days (earning say  £6k a month after lab fees etc but before income ax and NI) use that income to help setup his own dental surgery by reducing his tax liability when it becomes due, by paying towards the cost of a lease of e.g. £3k per month?

What if the dentist is also a director of dormant company, can he somehow use that self employed income to pay for the lease whilst working in his new practice for the remaining 3 days but all billings going to his limited company?  My guess is that you cannot and that each employment (self employed business) has to be distinct from working as an employee in the limited company as a director?  What is the most tax efficient way of combining the two roles so that one can write off the tax from the self employed income whilst generating income in the limited company?

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By Matrix
07th Oct 2019 06:42

If you are an accountant then I would respectfully suggest that you are outside your comfort zone and should pass this client to someone else.

If you are not an accountant then you are in the wrong place, this is a site for accountants. The complexity of your question, the fact that you have abused the anonymous function and not said please, will mean that any help will be limited.

I suggest you seek out an accountant who specialises in dentists.

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Jerome lane stewart and co
By Jerome Lane
07th Oct 2019 09:55

It may be debatable whether the dentist is truly self employed. That aside, it sounds like the simplest thing to do is for the dentist to operate via his limited company, providing services to other practices whilst also operating the company practice to achieve a single profit and loss account. It just make sense to keep it as simple as possible.

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