Tax returns will be completed and submitted to HMRC based on the underlying accounts information. Care needs to be taken when completing the tax return as to the legal personality of the Practice. Many practices are in fact set up as "expense sharing arrangements" and therefore the dentists are not associated with each other and a Partnership tax return should not be completed.
In more recent times we have seen some of the traditional partnereships (which were operating as true partnerships) become LLP's but care needs to be taken to ensure that this is allowed and will not compromise on any NHS superannuation requirements.
As well as the Practice tax return, each dentist will need to submit their own personal tax return to HMRC.
We ensure that tax returns for the practice are completed in the most tax efficient manner possible, whilst ensuring that the risk of an HMRC enquiry is minimised. We will make the necessary claims and elections on your behalf.