How Doctors Can Minimise Tax When Home Buying

We understand the different types of working arrangements doctors have. You may be self-employed, employed, or in training. Or even a combination of these employment types. It’s important to work with professionals who can guide you onto a clear path through this complex area.

If you’re self-employed, it is ideal to have three years of tax returns available with lots of taxable income shown. However, this can be at odds with what your accountant is trying to achieve. Your accountant will often attempt to reduce your taxable income to minimise tax. It is done through the use of expenses and allowances; however, a mortgage lender will still want to see evidence that you can afford a mortgage. A great mortgage adviser will work closely with your accountant to find the perfect balance between taxable income and demonstrating affordability to the mortgage lender. What this means for you, is that you’re less likely to pay more tax than is necessary!

Senior handsome man with grey hair wearing doctor uniform working using computer laptop celebrating crazy and amazed for success with arms raised

How Doctors Could Minimise Tax When Getting A Mortgage

We understand the different types of working arrangements doctors have. You may be self-employed, employed, or in training. Or even a combination of these employment types. It’s important to work with professionals who can guide you onto a clear path through this complex area.

If you’re self-employed, it is ideal to have three years of tax returns available with lots of taxable income shown. However, this can be at odds with what your accountant is trying to achieve. Your accountant will often attempt to reduce your taxable income to minimise tax. It is done through the use of expenses and allowances; however, a mortgage lender will still want to see evidence that you can afford a mortgage. A great mortgage adviser will work closely with your accountant to find the perfect balance between taxable income and demonstrating affordability to the mortgage lender. What this means for you, is that you’re less likely to pay more tax than is necessary!

Senior handsome man with grey hair wearing doctor uniform working using computer laptop celebrating crazy and amazed for success with arms raised