The Final Nail... The Final Budget

Yesterday's budget (final budget of this current Labour Government in my opinion) announcement by The Government failed to deliver on news of the much anticipated public spending squeeze. Although some efficiency savings are hoped for, for instance in reducing NHS employee sickness, there really wasn't any information on how the UK Economy will cut back.

Instead there was a focus on just re-inforcing their pre-budget report and a few headliners for small business, such as an increase of Annual Investment Allowance from £50,000 to £100,000 from next tax year, good for those planning significant capital outlays, but otherwise not that helpful.

The 50% tax rate is now here...

The 50% tax rate will now hit those earning over £150,000 in the new tax year, whilst those earning over £100,000 will see their personal allowance diminish to zero as it approaches £112,950.

For example, any lucky dentist earning over £200,000 per annum as a sole trader will have to pay £7,590 more in tax!!!

We have compiled a budget summary which contains more detail on how the budget will effect the general dentist, you can download this here, but now more than ever as the public purse is hurting, the scope for clever tax planning (such as incorporation) is now essential for any dentist.

Get in touch with myself or Mahen (mahen@samera.co.uk) on 0207 100 8788 if you want to start looking at some alternative strategies.

The Neem Tree, Esher

I had the intention of blogging about the new practice due to be open in May 2010, however, with so much that life throws at you, I have not managed to have time to do this, so sorry. However, some photo's of what the new practice will look like from the outside are here.

However, things are moving full steam ahead, our Samera team have moved into our new premises, whilst downstairs the builders are working full steam ahead in attempting to open the dental practice by May 2010. Fingers crossed, this will happen.

Opening a third private practice from scratch certainly is no mean feat. The issues we faced at our first two, we have not faced (yet) this time around, however, we have had to deal with quite a few new interesting issues such as choosing new dental equipment suppliers, dealing with trespassing issues, ensuring compliance with Grade 2 listing issues, strengthening the building further as it is over 300 years old, dealing with a homeless man living on the land!

In addition, as the team grows, the need to ensure we have adequate HR and financial controls is now more than ever imperative. Whilst we were smaller, it was easy to control, but as the practice grows we need to ensure our systems, such as purchasing, maintenance, recruitment etc are rock solid. I am sure it will be an interesting learning curve for all of us!

We are now settled in our new offices and here to help, the kettle is always warm, so come by for a coffee and a chat, we would be delighted to help you!

Have a great week ahead!

Arun Mehra FCA

Arun runs the London Marathon for Aashima!

All money goes to the British Heart Foundation!