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Think you have a grip on your finances? What if we told you there's much more to mortgages and limited companies than you currently grasp? Our financial mavens, Vinay Rathod and Bilal Ahmed, unveil the finer details of these topics that often go unnoticed. They emphasize the critical role of timing when deciding to go limited company or when taking out a mortgage, pointing out that although a limited company could save you a considerable amount, it might not be your best option if you need all your cash for property-related expenses.

We then navigate through the common financial pitfalls that dentists often stumble upon. From the disparities of getting a mortgage as a sole trader versus a limited company, the impact of these decisions on your financial strategy, to the various lender requirements that may sway your choices. Furthermore, Vinay and Bilal dissect the upcoming tax changes and their potential implications for those considering the limited company route. In-depth discussions on dividends tax, basic tax rate, and tax-free allowances for net profits over £100,000 provide an eye-opening perspective on financial planning.

As we dig deeper, we address the process of securing a mortgage for limited companies, touching on changes to the national insurance threshold and the pros and cons of raising one's salary. We stress the necessity of gathering financial evidence, the importance of getting an agreement in principle, and the ability to realistically plan your finances. And dentists, we haven't forgotten about you! We delve into the significance of realistic financial planning, the advantages of a hybrid income solution, and the art form that is mortgage decision-making. This episode is a treasure trove of financial wisdom – don't miss out!