As accountants with a specialist dental practice team, here at Khan Thornton we are able to offer dedicated accountancy advice to those working in dentistry. Legislation has changed over the years, offering dentists an ever growing range of options to maximise their tax profile, with Khan Thornton you have accounts who know how to help.
Working with Khan Thornton means that we can help you to free up capital, reduce your liabilities and raise money more effectively. We specialise in financial advice for the medical profession, and are fully conversant with the specific needs and regulations pertaining to the dental industry.
With our team of specialist accountants who focus on advising dentists we can offer a high level of service to help you get the most from your tax return.
Limited Company Status
One of the biggest changes to dental accountancy came in 31st July 2006 when some long awaited changes to Dentists Act 1984 came into effect. For the first time in 50 years dental practices were able to be incorporated as limited liability companies. Among many other benefits this allows more efficient tax planning, using a number of benefits previously denied to dentists.
Incorporation of your dental practice can seem a big step, but don’t be daunted – our accountants can use their experience to make the process simpler for you, and you’ll soon be seeing the financial rewards available to all dentists who take this step.
Why Khan Thornton?
We have helped our clients with issues such as the latest pension rules (NHS and private) and the effect on their decision to incorporate their business; the changes to the treatment of goodwill in December 2014 and July 2015; and the forthcoming change to the tax treatment of dividends.
Khan Thornton can offer a range of services to healthcare professionals and businesses, including:
- Accounting and Bookkeeping
- Tax preparation
- Tax Planning
- Payroll and Auto Enrolment including NHS Pensions
- Management reports
- Business Planning
- Dental Practice Purchase and Sale Assistance
- Succession and retirement planning
We work with our clients to provide a competitive compliance service whilst delivering timely value added advice to reduce tax.
Dentist Tax Advice: last updated