Our NEW Dentist Scheme

Get to the root of your accounting issues. We are able to provide tailor-made bespoke solutions to our Dentistry clients’ requirements. Whether you are NHS, Private or a combination of both, established or a new practice, we feel that our specialist knowledge base can help you with.......

• What Type of Dentistry Practice?
  • We are used to advising many types of dentistry practices; Sole practitioner, Partnership, Sole practitioners sharing expenses and Associates. However we know there are other less common variations in practice setups; Vocational Trainees, Limited Companies – the rules changed in 2006 and that it is now permissible to use a limited company structure, Limited liability partnerships – which provide limited liability in respect of losses incurred by other partners.
• NHS or Private?
  • We deal with dentists who are both providing NHS and/or Private dental services. Today less than 50% of dentists get more than 50% of their income from the NHS. Many dentists need to look at maximising income from other sources to maintain their income levels.
• What is the Future?
  • With 35% of the population finding it difficult to find an NHS dentist now and many believing that there will be no NHS dentistry within 10 years the question is where do you see your practice going. There is a well known saying that those who fail to plan, plan to fail! There is clearly a demand for a NHS dentist but this needs to be balanced by the financial pressures faced by the NHS dentist.
• Will I be taxed at the new 50% rate?
  • From 6th April 2010 there is now a top rate of Income Tax of 50% on income in excess of £150,000. In addition the gradual withdrawal of personal allowances for those with incomes of £100,000 or more and the restriction of higher rate tax relief on pension contributions for those earning more than £150,000 (from April 2011), will increase the tax burden even further on higher income earners to give them a marginal rate of 60%
• Advice on buying & selling/retiring
  • We can give totally impartial advice on; Buy/selling premises, Goodwill, Staff/associates and Treatments in progress
• VAT
  • Dental services are exempt from VAT but take care with standard rated supplies; these could include the sale of toothbrushes etc alternative dental treatment and medico legal services.
• Pensions
  • Whether you love or hate them pensions are/can be part of your remuneration package, we will do our best to steer you through the minefield of jargon and terminology to help you achieve the retirement you deserve.
• Your Business plans?
  • Do you need to set definitive plans for the future both financial and non-financial? These may be for a short term, less than 12 months, to fit in with long term goals. They may be in terms of financial performance but should also relate to personal objectives - We have the expertise and advise that can help.
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