Accountancy for Corporate and Group Dental Practices
Welcome to
PFM Dental
Accountancy
If you own multiple practices, understanding the benefits of creating a group structure through which to run your business is vital in negotiating the complex world of income tax versus corporate tax. We can provide bespoke advice with illustrations of tax savings based on your own circumstances.
We have the experience and know how to create group structures tax efficiently. The use of a Holding Company with trading subsidiaries is often key with acquisitions as many NHS contracts are now held in companies and share purchases are more common place. We encounter a significant number of flawed incorporations and generally weak advice in this area.
We can discuss finance with your lender and ensure the lending is best placed to qualify for the most tax relief allowing you to pay down your debt more quickly if you wish to do so.
Groups benefit from many generous tax exemptions and knowing what they are and how to maximise their use is second nature to us. It isn’t to many advisers.
Keeping Ahead of Legislation
Corporate Structures
Ensuring your structure is tax efficient and allows growth.
Support to Grow
Our expert advisers can support and advise on your growth strategy.
NHS Contracts
We have experience dealing with complex NHS contract needs for corporates.
Avoiding Flawed Corporations
We ensure your business isn’t exposed to unnecessary risk.
Tax Efficient
We can ensure your remuneration is tax efficient so you can enjoy more of what you earn.
Genuine Specialists
We only work with dentists and dental practices, we know the sector inside out.
FAQs
Can you advise on reinvestment and exit strategies
Having individual trading subsidiaries allows easy performance comparison between practices and if a particular practice is poorly performing or has reached its maximum potential you can sell the shares without being liable for any immediate tax on any gain.
The proceeds of sale can be used to fund further acquisitions or eliminate debt anywhere within the group.
Ultimately you may wish to sell part or the whole of your operations and we can ensure that you pay the lowest possible capital taxes with appropriate planning. We can maximise personal and corporate exemptions and reliefs to help you retain more of the sale proceeds.
Can you help with sub-contract arrangements?
For a number of reasons, you may not be able to move your practices into a group structure, especially if you personally hold NHS contracts with a high UDA value. We can advise on the use of a sub-contract arrangement with your own corporate to bring more flexibility to your tax affairs.
You need to be aware of the downsides as well as the upsides of all planning matters and we can run through these with you so you are fully informed as you make your decisions.
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