Hospital Doctor

Willie Mackenzie writes regularly for Hospital Doctor on financial and tax issues of interest to hospital consultants.


5-Jun DIARY OF A TAX ENQUIRY

DIARY OF A TAX ENQUIRY

Note – Although the characters names have been changed to retain privacy – all the facts are real – this is a true story.

Monday 6th September 2004

Received letter from HMRC regarding ...    

 

6-Oct Make the most of home assets

How to keep on top of the big spending issues in private practice.

Most consultants in private practice make some use of their home for business purposes.

This varies from having a separate annexe, which includes a consulting room and offi...

   
 

12-Sep Avoid entertaining the taxman, too

Business entertainment expenditure has not been an allowable deduction for tax purposes for as long as I can remember.

It is expressly disallowed by statute and the purpose of the expenditure is irrelevant.

Yes, you may have spent it wholly and exc...

   
 

7-Jul Don 't let the tax man ruin a family affair

A Salary for your Spouse

The salary for your husband or wife is probably the most popular and well-known 'tax dodge' for consultants.

Pub talk will have it that all one need do is enter a figure in accounts just below the tax exemption lim...

   
 

22-Jun Prepare for an early tax bill

Consultants should watch out for a tax rise, thanks to new accounting rules which will reqire work in progress to be included in a business's accounts.

Plans from accountancy regulator the Accounting Standards Board (ASB) could result in a pote...

   
 

2-Jun Perk up your people

A GOOD medical secretary is highly valued and most consultants will try their darnedest to retain one.

At a time when there is an acute skills shortage, retaining key staff is extremely difficult. But one of the ways to do it is by offering tax-free...

   
 

16-May Making sure travel costs don't take off

conference travel expenses

The next time you have an overseas conference to attend why not link it with a holiday - and try and get part of the cost as a tax deduction?

Many consultants go on an overseas conference but fail to spot the oppo...

   

 

3-Dec Perks for staff that carry tax benefits

Consultants who want to reward their employees in a tax-efficient manner this Christmas have a wide choice of options. Willie MacKenzie presents seven of the best

   
 

22-Oct Mutiny over the Bounty
Consultants' husband-and-wife businesses could be at risk as the taxman signals a revolt over their 'bounty' earnings    
 

16-Sep Easing the pain of your tax bill
Many consultants complain how painful their tax bill is. But they can often get relief if they are prepared to do something about it.    
 


  More
  • Ground Floor
  • Caswall House
  • 6 Wharf Street
  • Godalming
  • GU7 1NN

nasda The Institute of Chartered Accountants of Scotland
Visitor Register Now
Hospital Doctor