Do All Doctors Need To Complete A Tax Return?
Not all but many of you will.
Below are a number of circumstances when a formal tax return may be required.
HM Revenue and Customs (HMRC) have sent you a tax return to complete
Your total income is in excess of £100,000
You have multiple sources of employment income
You have significant NHS employment related expenses to claim
You are in receipt of self-employed private practice income
You are in receipt of other untaxed medical fees or rental income
You are a company director
You have made a capital gain
You have significant sources of investment income
You have income from overseas
The above list is not exhaustive and be aware that it is your responsibility to advise HMRC that you need to complete a tax return. Do not wait for HMRC to contact you as missing the tax return filing deadlines will cost you money.
We will be happy to help if you have any concerns.
Contact us today for a free consultation: firstname.lastname@example.org
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