Do you pay for work expenses out of your own pocket? If so, you need to know about tax-deductible expenses for doctors in the UK.
With hours of work, patients to take care of, and complex legislation, running a doctor’s practice is time-consuming. Cash basis accounting can help.
Like all businesses, those in the medical sector need to keep on top of their finances. Here’s our guide to medical practice accounting.
Here’s how the scheme works and tax considerations to be aware of – including the annual allowance and contribution rates.
As a self-employed GP or consultant you should be able to reduce your tax bill by deducting business expenses before calculating your trading profit.