FAQs

I already have an accountant.  How easy is it to change?

It could not be easier. Many people think it’s a hassle changing accountants, but it really isn’t.  All you need to do is write to your current accountant and tell them that you’re switching to DBS.  (An email is fine.)

After that we take it all from there!  We get in touch, ask them for “professional clearance” – this just keeps everything civilised, and meets our professional accounting standards.  And we sort it all out for you.

We want to stress that we only want you to switch to us if we’re the best choice for you.  If you’re just saving a few pounds, or you’re not even sure if you should switch, feel free to talk to us.  We won’t force you into anything.  We like our clients to be with us because we’re the best accountant for them – not the cheapest or the one who gave them a discount.

I have a rental property can you help me with that?

Yes we can, and we’ve got extensive experience doing this for dental professionals.  Rental accounts require some additional work, so there is an additional fee of £200+VAT (ie, £240) for the first property then £100+VAT (ie, £120) for each additional property.

I am acquiring a dental practice – can you advise me?

Absolutely.  We have years of expertise helping dentists purchase dental practices, and our full consultancy service covers everything you need.  Read more here.

I have heard about incorporation – can you help?

Incorporation may very well be for you, and we’ve helped many dental professionals work through this for their own situation.  If you’d like a quotation outlining potential costs, request one here.

Can you help with a mortgage reference?

Absolutely.  We can respond to any reference requested, and when you’re a DBS client we don’t charge a thing.

I use my car for work. Can I claim motoring expenses?

Yes you can!  You will need to keep a record of your business journeys in support of any claims.

Also, note that travel from your home to the surgery and back again are not considered business journeys.

Can I claim expenses for the use of my home for keeping business records up to date?

HMRC will not generally challenge a reasonable claim. If your work from home is significant you might want to conduct an exercise to ascertain a fair proportion of your household costs – or you can adopt a fixed rate.

Here’s some information. If this is confusing, just get in touch and we’ll sort it all out for you.

Minor use of home: a non-statutory rate of £4 per week can be claimed.

Flat rate/fixed rate claim: a fixed rate based on the number of hours that you work at home as set out below:

No of hours worked per monthAmount per month
25 to 50£10
51 to 100£18
101 +£26

I’d like to combine business travel for CPD with a personal holiday. What expenses can I claim?

Here’s a real world example.  Perhaps you’re thinking of attending the New York Dental Meeting to discover the latest innovations in dentistry and undertake some CPD. Because it’s a long way to travel, you want to combine your visit to the meeting with a two-week family holiday.

In these circumstances, only the course fees would be deductible – and this presumes that the course fees are incurred wholly and exclusively for the purposes of the business.

Training courses that will update your existing skills and expertise are allowable for tax purposes.

In our example above, travel and accommodation costs will not be allowable as a deduction from profits because of the dual nature of the expense, i.e. business training and family holiday.

If you’ve got a specific situation, talk to us first before booking your travel.

Can I deduct for the use of my mobile phone?

A proportion of the monthly costs of your mobile phone contract can be claimed as a deduction against profits for tax purposes. How this proportion is arrived at depends entirely on your useage.

Home internet costs are generally included in the use of home calculations; however, where this is not the case, a fair proportion needs to be discussed.

Can I claim the expense of a parking ticket?

Fines and penalties are infraction of the law and as such are not deductible from profits for tax purposes.

I need a certificate and an SA302 for my mortgage. Can you help?

Absolutely.

An SA302 is a tax calculation issued by HMRC on request. The accountant’s certificate will essentially provide some basic information about your business profits and assets in recent years in support of your application.  Drop us an email and we’ll sort it out.

I’d like to buy a dental practice. How do I know what it’s worth?

We can definitely help with this.  We have been helping dentists buy dental practices and sell dental practices for years. We have evaluated practices, valued practices, and we have challenged incorrect valuations and successfully defended our own valuations when challenged by HMRC and others all on behalf of our clients.

Download our free “10 Tips for Buying A Dental Practice” PDF for some tips.

What does a certified copy mean (in relation to money laundering)?

A certified copy means a photocopy which is signed by a third party who is not a direct relative. The third party must be a professional person (e.g. lawyer, accountant, post master/sub-master, banker, teacher, minister, doctor, etc. etc.). The third party must have seen the original and must write above their signature that the copy is a true replica of the original and (if applicable) that the photograph bears a true likeness. They must state their capacity, contact details and the date of signature.

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Network House, Station Yard,
Thame, Oxon, OX9 3UH
Telephone: +44 (0)1844 260111
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Authorised and regulated by the Financial Conduct Authority.