From 1 May 2015 all Dover advisers and new advisers are enjoying a permanent twelve month interest free payment holiday. The May 2015 tax invoice is not payable until May 2016, the June 2015 tax invoice is not payable until June 2016, and so on in perpetuity. This allows all advisers to use their working capital to grow their businesses. The monthly fee notes are incurred, so they are still deductible for tax purposes even though they will not be paid until a later tax year. Advisers on the GST accruals method can claim a GST credit even though the invoice is not paid (but we recommend you check with your tax adviser).
This 12 month interest free period is another way Dover helps its advisers create great financial planning practices.
12 months interest free payment terms is a feature of Dover’s fee structures. It’s just another way Dover encourages its advisers to develop profitable and valuable practices.