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Incorporating a medical or dental practice


Incorporating a Medical or Dental Practice

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A limited liabiltiy structure provides Doctors, Consultants and Dental practitions with several benefits:-

  1. income tax saving opportunities,
  2. improved pension options,
  3. asset-protection, and
  4. added personal financial protection.

Dentists face a unique difficulty due to an arcane prohibition on the practice of dentistry by companies. Thankfully, the term ‘practice of dentistry’ leaves scope for the incorporation of dental related services.

There reasons to incorporate are many and include:-

  • Access to a corporation tax of 20% compared with a marginal tax rate of 55% for individuals,
  • Significant improvement in business cashflow (80% of earnings) for development and loan repayments compared with 45% when trading as an individual practitioner
  • The provision of tax-free 'electric' company vehicles,
  • Substantially improved pension funding options,
  • The abiltiy to cross-lend to other business interests tax-efficiently, and
  • asset-protection and greater protection from claims and gaps in PI cover.
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