fbpx
Google Rating
4.9
Based on 70 reviews
×

Tax relief for doctors – how to set up HMRC Personal Tax Account

Personal tax account guide for doctors

 

by Dr Ed Cantelo GP Trainee, Chartered Accountant and Chartered Tax Advisor

 

A Personal Tax Account allows doctors to claim tax relief for expenses such as your GMC, BMA, MDU and MPS fees, as well as any exam expenses as a trainee, and check your doctor’s tax code is correct.

If you haven’t signed up for an HMRC Personal Tax Account yet, we strongly suggest you join the 16 million taxpayers that have.

What is an HMRC personal tax account?

This is an online account created by HMRC where you can manage your tax affairs online, quickly and simply, whenever you want.

Why do doctors need a Personal Tax Account?

A Personal Tax Account allows you to see the information that HMRC hold regarding your pay and tax. This means you can check you are paying the correct amount of tax. It’s designed to allow taxpayers to manage tax online without using paper forms or telephone.

The most significant features for doctors are

A full list of features can be found here

https://www.gov.uk/government/publications/your-personal-tax-account/your-personal-tax-account#current-services

And here is a useful guide from HMRC

http://www.hmrc.gov.uk/courses/syob4/pta_guide/

How do I get a Personal Tax Account?

We have made a step by step guide for doctors here.

What medical school didn’t teach us about money

“What medical school didn’t teach us about money” will give doctors a step by step plan to transforming your financial future. Enter your details to download your copy now

The Medics’ Money New to GP Partnership Course is run for GP Partners by GP Partners

The Medics’ Money New to Partnership Course will empower GPs to learn the essential business skills to run your GP business. Using our skills as GPs, accountants & tax advisers, we’ve selected the best advisers to teach and support you on the Medics’ Money New to GP Partnership Course.

Working with