Mylocumaccountants.co.uk

Finished foundation training and starting life as an associate dentist? 🦷

Your income may change significantly, but so does the way you need to manage your finances.

From registering with HMRC and putting money aside for tax, to tracking expenses, organising your bookkeeping, understanding MTD and reviewing your NHS pension — getting these things right from day one can save you a lot of stress later.

Don’t wait until your first tax return is due. Good financial planning starts early.

📞 Book a free call with MyLocum Accountants
📩 [email protected]

Trusts aren’t just for the ultra-wealthy.

Used correctly, a trust can be an important part of protecting family assets, supporting asset protection, managing wealth, and planning for the future.

From inheritance planning to deciding how and when assets are passed on, understanding how trusts work can help you make more informed decisions about your family’s financial future. Trusts may also help protect assets from certain future risks, depending on the type of trust and your individual circumstances.

It’s not about hiding money or avoiding tax. It’s about planning ahead and putting the right structures in place.

📞 Want to understand whether a trust could be relevant to you? Book a free call.
📩: [email protected]

Buying an investment property is a big decision—but how you buy it can be just as important as what you buy.

Choosing between your personal name and a limited company can affect your tax position, mortgage interest relief, future profits, and long-term investment strategy.

There isn’t a one-size-fits-all answer, which is why getting advice before you buy can save you thousands in the years ahead.

📞 Thinking about investing in property? Book a free call to discuss the right structure for your goals.

📩[email protected]

Earning more is only part of the equation.

The real goal is using your money in ways that improve your quality of life, not just your lifestyle.

Better health, quality sleep, smart financial planning, buying back your time, and investing in your skills can often deliver far greater returns than the next expensive purchase.

After all, wealth isn’t measured by what you spend, it’s measured by the freedom and opportunities your money creates.

What’s the first thing you’d upgrade with a higher income?

📞 Looking to make smarter financial decisions? Book a free call.
📩 [email protected]

What does it really mean to be “rich” in the UK?

The answer isn’t just about your salary.

While income can show where you rank statistically, real wealth is about what you keep, what you own, and how well you plan for the future.

Whether you’re earning £40k or £200k+, understanding tax, saving consistently, and investing wisely are what build long-term financial security.

Which do you think matters more—income or wealth? Let us know in the comments.

📞 Book a free call to discuss your tax and financial strategy.
📩 [email protected]

The biggest tax mistakes aren’t always obvious, they’re often the ones business owners don’t realise they’re making.

From poor tax planning and choosing the wrong business structure to missing legitimate claims, small decisions can have a big impact on what you keep.

The good news? Most of these mistakes are preventable with the right advice and a proactive approach.

📞 Book a free call to review your business and tax strategy.
📩 [email protected]

If you’re married or in a civil partnership, you could be entitled to a tax saving without even realising it.

The Marriage Allowance is one of the UK’s most overlooked tax reliefs, and eligible couples could save up to £252 a year, with the possibility of backdating a claim for previous tax years.

It only takes a few minutes to check, but it could put money back in your pocket.

📞 Not sure if you qualify? Book a free call and we’ll help you understand your options.
📩[email protected]

Self-employed? Don’t let the next HMRC deadline catch you off guard.

If you’re required to make a Payment on Account, you could have another tax payment due on 31st of July, even if you’ve already settled your last tax bill.

Checking early gives you time to prepare, avoid unnecessary interest or penalties, and stay in control of your finances.

📞 Need help understanding what you owe? Book a free call.
📩 [email protected]

Taking money out of your limited company isn’t just about how much you withdraw, it’s about how and when you do it.

A little planning can make a significant difference to your tax bill. Whether it’s dividends, a director’s loan, or a combination of strategies, the right approach depends on your business and personal circumstances.

The goal isn’t to avoid tax, it’s to extract your income as efficiently as possible while staying fully compliant.

📞 Book a free call to discuss the best strategy for your business.
📩 [email protected]

Making tax digital or making tax difficult!

MTD for Income Tax (Self-Employed & Landlords)Deadlines are split into four quarterly updates and one final declaration.

The rollout schedule is based on your total qualifying income:
April 2026: Income over £50,000.
April 2027: Income over £30,000.
April 2028: Income over £20,000.

Standard Quarterly Deadlines For those on standard tax year reporting, updates must be submitted to HM Revenue & Customs (HMRC) by the 7th of the month following the quarter:
6 Apr – 5 Jul: Due 7 Aug
6 Jul – 5 Oct: Due 7 Nov
6 Oct – 5 Jan: Due 7 Feb
6 Jan – 5 Apr: Due 7 May

Year-End Deadline31 January: The final declaration for the tax year (replacing the traditional Self Assessment tax return) and any tax payments are due by this date