PFM Dental introducing

Round table meeting

22 Mar 2019
Martyn Bradshaw
A 5 minute read
by Martyn Bradshaw
What is a round table meeting and why do you need one?

If you are planning your exit from dentistry the chances are you will be scouring the internet for practice sales agents. At the same time and in no particular order you are probably thinking about the legal process, the practice property, your future income options and your tax liabilities.

If this sounds familiar and overwhelming we might just be able to help. Rather than multiple professional advisers pulling in different directions PFM Dental offers up to 4 Dental specific disciplines under one roof.

Introducing the ‘round table’ concept:

Uniquely we offer both existing and new clients access to each of our experts in one meeting in one location. Already got your own financial advisor and accountant? – don’t worry you can pick and choose and arrange to meet with our sales and valuations and legal experts and/or bring along your other professional advisors.The aim is to launch your practice sale and exit strategy without the usual delays associated with one adviser talking to another.

Whether you are looking to sell to a Body Corporate, a current associate, existing partner or put the practice on the open market we can guide you through the steps, put a plan into place and talk you through the process.

“The aim is to launch your practice sale and exit strategy without the usual delays associated with one adviser talking to another”

What do our clients say about the round table concept ?

“I had a preliminary meeting which involved all 4 services that PFM Dental offers. The meeting was extremely useful and led me to understand the timescales involved and what was required of me, and what would be handled on my behalf. I was also given advice as to what I could do to save significant amounts of tax. The practice has now sold and I would recommend this tax a starting point for anyone looking to sell their dental practice”

So what areas of advice does PFM Dental cover?

The Practice sale

Our sales agency side act for hundreds of dentists each year and we are recognised as independent experts on dental practice valuations. We will discuss your practice valuation and some of the things that can positively impact on this.

We will also discuss the type of buyers likely to pay the highest value for your practice, with terms that best suit you. If the practice is most suitable for a Body Corporate then we will work hard to negotiate favourable terms on issues such as tie-ins and retentions. You should note That a sale to a corporate may need to be 3 – 5 years prior to your intended retirement age to accommodate a tie-in, whilst a sale to an ‘owner occupier’ would allow for a quicker exit. We can guide you through the pros and cons and the different valuation methods we have at our disposal.

The Legals

PFM Dental has an innovative and progressive approach to the legal work involved in a practice sale.

“Solicitors ‘missing in action’, unanswered phone calls and excuses are a thing of the past”

All too often third party legal advisers and miscommunications on the legal process slow a sale down. PFM Dental were market leaders in creating a legal service fully integrated to the practice sales process. Solicitors ‘missing in action’, unanswered phone calls and excuses are a thing of the past and everyone working towards a swift completion.

We will talk you through the process and explain clearly what documents relating to your business and property you will need to prepare in advance. Tailored to your practice we offer to assist you with the ‘due diligence’ so that you can start collecting the information required for your sale.

Accountancy

It is important to ensure that as well as maximising the sale price that you sell in the most tax efficient manner. The involvement of our Dental accountants ensures that consideration of this is made and advised upon accordingly.

Are you a limited company? – Did you know that you can you accrue cash in the business prior to the sale which can be sold alongside the business, in essence meaning that you get the cash out at 10%? Do you employ your spouse? Do you know the options to make them redundant with a tax free payout of up to £30,000?

“PFM Dental are the only (dental) professional services group to offer an in-house Chartered Financial Planning service in addition to legal, accountancy and practice valuations”

Wealth management

Often the timing of your exit strategy is dependent on your NHS pension and health of your other financial plans. Can you afford to retire?

“PFM Dental are the only (dental) professional services group to offer an in-house Chartered Financial Planning service in addition to legal, accountancy and practice valuations”

Selling your practice will release significant funds and care needs to be taken over these to invest wisely and tax efficiently. We only advise dentists so we are experts in complex subjects such as the Lifetime (pension) Allowance and your NHS pension retirement options.

PFM Dental are the only (dental) professional services group to offer an in-house Chartered Financial Planning service in addition to legal, accountancy and practice valuations. The input of our financial advisers allows you to proceed with your practice sales plans safe in the knowledge that you have sufficient income to retire, or at least create a plan to work towards this. Don’t worry if we don’t look after your finances already. We take on a number of clients at a late career stage, looking after you when you really need it.


If you would like to discuss the sale of your practice and your retirement with some or all of our professional advisers please contact us now. Just let us know which services you would like to be involved and we will arrange things accordingly. We don’t charge a fee for this meeting and offer it without obligation.Book your round table meeting now