Buy our report -“Can Incorporation Save you Tax?”

As a firm with extensive experience in incorporating Dental Practices, we have built up much experience in this arena. Sole traders, partnerships and expense sharing arrangements can all be incorporated, but it is so important this is done right first time, else considerable problems can manifest later on.

We have written a comprehensive report on Incorporation which you can buy here for just £19.99.

This report will help you understand the process of incorporation of your dental practice, but also help your professional advisor in understanding the process, so they can do it right first time. If you feel need an expert in this area (which we strongly suggest) please get in touch with us!

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Incorporating your Dental Practice into a Limited Company

As of the 31st July 2006 new legal reforms have allowed dental practices to incorporate and begin trading as limited companies. The majority of the company directors must be registered with the GDC as dentists or dental care professionals.

Possible Tax Savings

There are both advantages and disadvantages to incorporating your practice and you should consider all options carefully. There may be considerable tax savings but not necessarily in all cases, and these are offset by the costs of added bureaucracy, professional fees and start up costs. For high rate tax payers incorporation could have considerable savings for dentists.

Please read the enclosed information Samera Ltd guide to Limited Companies for further information on Dental Limited Companies.

Samera’s Guide to Incorporation – Click here to read

Associates

The GDC will allow associates to practice through a limited company, however, associates cannot benefit from goodwill when the company is set up and it is possible that HM Revenue & Customs could invoke some penal tax rules to take away any potential tax savings from Dental Associate Limited Companies.

We would recommend that associates carefully consider all the risks before trading as a limited company.In addition, before you consider incorporating your Associate business, you will need to consider your pension arrangements, as the NHS now won’t pay NHS pensions to those Associates that may have incoporated into a Limited Company.

What to do next

Incorporation is not for everyone. It would be prudent to evaluate all the pro’s and cons of incorporation before you decide to incorporate. Therefore, we would strongly recommend we carry out a thorough feasibility study based on your individual circumstances. We stress this is an essential part of the process in order to determine whether trading as a limited company is the right choice for you.

If you have any questions or would like any further information or assistance please do not hesitate to contact us on 0207 100 8788 or on info@samera.co.uk.

Fees

For further information on our fees for these services please click here.

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