Tax Planning
Tax planning for doctors and dentists
Tax planning for doctors and dentists is rarely about a single trick — it is about making the moving parts work together: NHS and private income, the pension annual allowance, dividends or partnership profits, and the allowances available each tax year. High earners in particular face issues that catch out generalists, such as pension annual allowance charges, the loss of the personal allowance above certain income, and how private practice or associate income should be structured. The aim is simply to avoid paying more than you need to, within the rules. We match you with an FCA-regulated adviser (working alongside accountants where appropriate) who understands medical and dental income and can build tax efficiency into your wider financial plan.
Pension tax charges and high earners
For many senior doctors and dentists the biggest tax issue is the pension annual allowance — where benefit growth above the limit triggers a charge. Planning involves understanding the interaction with the tapered allowance, deciding how to settle any charge, and balancing tax against the long-term value of pension benefits. This sits closely alongside NHS pension advice.
Private practice, associates and how income is structured
Dentists with associate or practice-owner income, and doctors with private work, often have choices about how that income is taken and structured. The most efficient approach depends on your overall position and should be set up with both tax and long-term planning in mind, typically in coordination with your accountant.
Using allowances each tax year
Pensions, ISAs and other allowances reset annually and are easy to underuse when you are busy. A specialist adviser helps you make deliberate use of the allowances available to you, in the right order, as part of a plan rather than a last-minute scramble before the tax-year end.
Frequently asked questions
No. Tax planning advice complements your accountant — the adviser focuses on financial planning and tax-efficient structuring of savings, pensions and investments, and will happily work alongside your existing accountant.
Above certain income levels the personal allowance tapers away. There are legitimate, rules-based ways to manage your taxable income, such as pension contributions, which a specialist can assess against your wider goals.
Matching and the first conversation are free and without obligation. Any ongoing advice fees are set out clearly before you commit.
Related specialist advice
Get matched to the right specialist
Answer a few questions about your situation and we will route you to an FCA-regulated adviser who specialises in tax planning for medical professionals. It is free and carries no obligation.