Company Management for Dentists
From forming your company to winding it up and everything in between.
Whether you are an associate dentist or own a dental group, proper company management is essential.
From forming your company to winding it up, you need an accountant who specialise in the UK’s dental sector.
Samera can help you at every step of the way when it comes to ensuring you get the advice and support you need when it comes to company management.
We can help with:
- Incorporation Assessment
- Incorporation Advice
- Company Formation
- Winding up of LLP
- Registered Office Service
- Company Secretarial service
- Shares transfer
- Creation of shareholder meeting register
- Debt Advisory and Corporate Restructuring
- Dividend Vouchers
Why Choose Samera
Most Dentists have asked the question: Self Employed or Limited Liability?
As practice owners ourselves, we know exactly what both associates and practice owners need when it comes to company incorporation and management.
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.
If you feel need an expert in this area (which we strongly suggest) please get in touch with us!
With over 20 years of experience both running our own dental companies and helping our clients do it, we can help you at every step of the way.
Dental Incorporation Overview
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 the incorporation of your dental 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 taxpayers, incorporation could have considerable savings for dentists.
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 incorporated 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.
Professional Fee Protection
Samera offers a professional fee protection service to our clients.
In the event of a tax investigation, we offer an insurance policy for our clients to take out to cover our fees. Please get in touch with us for details.
Dental Practice Mergers and Acquisitions
Dental practice merger and acquisition decisions can be very intimidating and perplexing.
Debt Advisory and Corporate Restructuring
Our market knowledge can help give you the best option for debt and corporate restructuring.
Dental Practice Mergers and Acquisitions
Dental practice merger and acquisition decisions can be very intimidating and perplexing.
Debt Advisory and Corporate Restructuring
Our market knowledge can help give you the best option for debt and corporate restructuring.
Dental Accounts & Tax Specialists
As dental practice owners ourselves, we know what makes a clinic tick. We have been working with dentists for over 20 years to help manage their accounts and tax.
Whether you’re a dental associate, run your own practice or own a dental group and are looking to save time, money and effort on your accounts and tax then we want to hear from you. Our digital platform takes the hassle and the paperwork out of accounts.
To find out more about how you can save time, money and effort on your accounts and tax when you automate your finances with Samera, book a free consultation with one of our accounting team today.
Dental Accounts & Tax: Further Information
For more articles, webinars and blogs on dental accounts check out the dental accountancy section of our Learning Centre and follow us on Facebook, LinkedIn, YouTube and Instagram.
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