Dentists

• 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
• Payroll
  • 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
• Fees
  • 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

  • VAT
  • Associate NHS pension
  • Breaching contract
  • GDC registrant
  • Awkward Commissioners
  • Who owns the practice freehold?
  • Subcontracts
  • Repaying loan capital
  • Entrepreneurs relief
  • Directors
  • Incoming tax saving
  • Mixed NHS & Private
  • Goodwill ownership
  • Shareholders
  • Companies Acts
  • Involvement of spouse
  • Dividends
  • Limited company issues
  • Risk
  • 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?