Accountancy
Buying a Practice
Welcome to
PFM Dental
Accountancy
Hundreds of practice owners trust us to handle their accountancy needs. However, if you are buying a practice, you should not wait until you have purchased to make contact. We act for many dentists throughout the purchase of dental practices – meaning that we can help influence the deal so that it works best for you.
You can also be reassured that we only offer accountancy services to dentists so you can be assured that the service you get is genuinely specialist.
What we offer
Viability Forecasts
Most banks will request financial forecasts that are prepared by a specialist dental accountant and we are recommended by a number of healthcare banks to undertake these.
The forecasts ensure that the practice works for you, but can also support the bank application by demonstrating that this works, and we apply a number of stress tests too.
Practice Structure
We can guide you to determine whether you would be better as a sole trader or purchase through a limited company. If you are buying a property do you want this in a separate investment vehicle to give more flexibility?
It’s important we discuss the structure at the outset to ensure the lending from the bank is applied for by the right entity and avoid lengthy delays.
Financial Due Diligence
When instructed during a sale we are able to review the financial due diligence alongside the solicitor who may understand the legal work but not the financials.
There are a number of items which are agreed within a sale that can also have a tax consequence for you, and in the case of a limited company there are a number of assets and liabilities to be considered.
Ongoing Services
Once you have bought the practice then you can be assured that you are in the best place to be looked after. PFM offer a wide range of services specifically for dentists and dental practices.
In addition to a high-quality accountancy service we are able to offer proactive advice on dental practice business strategy and longer-term planning.
FAQs
Do I need an accountant before I’ve bought the practice?
Yes, this is very important. There are a number of long term tax consequences which need to be looked at carefully before purchasing.
Can you help me get the bank loan?
Yes, in addition to our accountancy forecasts, we also offer a full range of practice finance services.
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