Tax and Accountancy Services for Dental Corporates
The rise of dental corporates since the relaxation of rules on incorporation for dentists has shown this way of structuring a practice is a preferred choice for many dentists. We have advised many dentists on the pro’s and con’s of incorporation and the impact on their practice and their personal finances.
For those already running their practice through a limited company, our specialist dental team is there to deal with all the regulatory requirements including administration, annual account reporting, compliance and strategy.
Morris Crocker is a registered auditor and can assist larger dental corporate with statutory audit services. In most cases we are able to save costs when dealing with the main audit. Our fees can be fixed in advance and because of our independent status our fees are generally significantly less than those charged by larger firms.
As a director, you will want to ensure your remuneration arrangements for yourself and other directors and shareholders in your business are paid in the most tax efficient way. We will also review your personal circumstances when preparing your self assessment tax return and provide you with appropriate tax planning advice.
As a member of the National Association of Specialist Dental Accountants and Lawyers (NASDAL) we receive a range of national dental practice statistics which we can use to benchmark your practice’s performance and identify any areas for improvement.
With the recent changes to National Insurance, and Auto Enrolment coming into force, you may wish to consider outsourcing your payroll. Not only will this save you time in administration tasks, it offers you peace of mind that your payroll is being managed correctly and on time.
Practice Growth and Development
If you are planning to enhance your practice, through expansion or refurbishment, we have close connections with local banks who can offer special rates of finance for dentists. Also, we can advise on timing your expenditure on items such as new clinical equipment to ensure capital allowances are maximised.
Morris Crocker is a registered auditor and can assist larger dental corporates with statutory audit services.
Further services we can provide include:
- Buying a practice
- Capital allowances
- Cashflow forecast
- Company secretarial
- Expense share agreements
- Developing your practice
- Expense-share agreements
- Finance applications
- Management accounts
- NHS superannuation reconciliation
- Practice and goodwill valuation
- Private fee setting
- QuickBooks and Xero online accounting
- Rental accounts
- Review meeting
- Selling a practice
- Setting up in practice
- Succession planning
- Tax implications of employee benefits in kind
- Tax planning
- Inheritance tax planning