Tax rises and spending cuts were expected and we were not disappointed. Overall not a great budget for dentists at all. In fact this budget could be described as a triple whammy against dentists:
1. A rise in VAT to 20%
2. A rise in capital gains tax to 28%
3. A reduction in the Annual Investment Allowance to £25,000 from 2012.
The only glimmer of hope being a reduction in the small company tax rate from 21% to 20%, making incorporation even more compelling for many dentists. If you want to know more get in touch or download our report here.
For much more on the budget and its implications for dentists, watch my video below or read my up to date blog which contains much of the detail here.
