The UNW Dental Business Unit, led by partner Alan Suggett, is a leading national advisory team that acts for over 400 dentists across the UK.
UNW is a member of NASDAL (National Association of Specialist Dental Accountants and Lawyers), where Alan is a member of the Technical Committee and editor of their quarterly survey, and ASPD (Association of Specialist Providers to Dentists).
We work on a fixed fee basis, which includes an annual benchmarking report of practice results, and we also advise clients on buying and selling practices. Over the years, we have developed a vast number of strong working relationships with special dental leaders and lawyers.
Many pitfalls can arise working with NHS practices; In keeping with our code of practice, our team at UNW are here with as much support as you may require, however big or small.
- Buying a practice
- We can help you find a practice to buy
- Evaluate whether a practice will be viable for you
- Help you negotiate favourable purchase terms, including a tax efficient purchase cost allocation
- Introduce you to lenders and help you get a good deal
- Advise you about the best structure to operate the practice (sole trade, limited company, etc)
- Selling your practice
- We can help you with “tactics” on sale to maximise your value
- Our knowledge of the Goodwill market can help your sale negotiation
- We’ll help you minimise tax on sale
- An experienced and independent advisor to relieve your stress and help with your decisions
- Maximising practice profitability
- We’ll prepare a report for your practice analysing areas of strength and weakness based on the annual NASDAL benchmarking survey of hundreds of practices
- We’ll quantify the amounts of extra potential profit to be earned
- We can help you measure improvements as part of a profit improvement plan
- Minimising tax
- UNW has six tax partners and a team of approximately 30 tax advisers – almost 50% of our staff are tax professionals
- You probably aren’t Jimmy Carr or Gary Barlow – so we’ll advise you accordingly
- We’ll do our best to advise you so that your tax bill is minimised – but you can sleep at night
- Whether annually, on practice sale, or on death – we’ll help minimise taxes
- We have a payroll bureau with dedicated staff
- We’re not a call centre so will look after your staff sensitively
- We can even pay your staff using our BACS facility
- Payroll is about to become even more complicated with the advent of RTI and Auto enrolment – but we’re up to speed and can relieve you of this stress
- Our payroll bureau can take the stress from you
- Most of our fees are fixed, and agreed with you in advance
- We don’t charge extra for telephone calls or emails
- You can pay us on a monthly basis if you’d prefer
- No surprises!
- Strategic planning
- The UNW Strategic Development Programme (SDP) is a tried and tested, systematical approach to strategic planning
- If you’d like to be more focused and plan for how you’d like your business future to unfold, we can help
- You’ll have objectives, an action plan and a review process
- Fixed fee strategic planning projects start from £1,000 plus VAT
- Where are you now, where would you like to be?
- What is the best structure for your practice?
Sole trade, incorporation, LLP, expense sharing, partnership?
We’ll help and advise about all of the important issues
- Associate NHS pension
- Breaching contract
- GDC registrant
- Awkward Commissioners
- Who owns the practice freehold?
- Repaying loan capital
- Entrepreneurs relief
- Incoming tax saving
- Mixed NHS & Private
- Goodwill ownership
- Companies Acts
- Involvement of spouse
- Limited company issues
- Principal’s NHS pension
- Accounting systems
- We work with many computerised accounting systems (and even your manual books if you insist!)
- We can recommend, configure and train you and your staff if you would like to improve record keeping
- We’ll work with you on “the Cloud” if you like (usually using a system called Xero)
- We have experience of designing sophisticated reporting systems measuring a range of KPI’s in addition to monthly profit and loss accounts and balance sheets
- If you produce good monthly reports we’ll “desk review” these for you (to give you extra confidence) free of charge as a reward!
- Keeping records (“the books”) efficiently
- NHS pension scheme (NHSPS)
- At no extra cost we’ll review your NHSPS entitlement annually
- It’s complicated, and the Rules & Regulations often aren’t clear, but we can help you make sure your entitlement is right
- Beware of the rules which apply to incorporated practices – we’ll guide you if this affects you
- Despite recent changes it’s still a marvellous benefit
- Associates – our approach
- Some of our biggest dental clients have been with us since they were associates
- Fixed fees, including unlimited telephone and email support
- We have a dedicated team, on your wavelength
- We’ll do our best to minimise your tax liability
- We’ll make sure your NHS pension calculation is right (surprisingly most accountants don’t do this)
- When the time comes we’ll help you find and buy a practice
- Associates – the NHS pension scheme
- In 2012 the NHSPS rules were clarified with regard to Associate / Performer pension entitlements
- The correct basis of associate pensionable pay is the amount paid (not 43.9% of gross fees)
- This important clarification will result in most associates pensionable earnings increasing
- We will check this for you
- Pension nightmare – are you affected?
UNW has recently advised Perfect Image, a long-established and trusted end-to-end IT solutions provider, on a Management Buyout (MBO) that completed in May 2019. Chiltern Capital, a London-based private equity firm, provided financial support.
Samuel Knight International, a global recruitment and project man-power specialist headquartered in Newcastle, was founded by Steve Rawlingson in 2014 with the ambition of shaking up the recruitment industry. Initially tackling an acute skills shortage in the energy and rail sector, it has demonstrated an impressive level of growth since its inception.
Newcastle-based chartered accountancy and business advisory firm UNW has advised Receptive Software Limited on its sale to business software firm, Pendo, which is headquartered in the United States.
Following on from our previous article, HMRC have announced an updated guidance for those who are going to be affected by the significant amendment to the VAT rules for construction services known as ‘domestic reverse charge’ accounting.