Dental practice owners – How to maximise value and minimise tax!

13:45 - 14:15

Aims

The aims of the presentation are to raise awareness of practice owners in the following areas:

  • Maximising value - of what?
  • Fees - the 4 ways to grow a practice (with references to Paddi Lund)
  • Profits - using Benchmarking to increase profits
  • Goodwill value - how is goodwill valued, what is EBITDA (the standard measurement of profits), what can practice owners do to maximise value?
  • Pensions - how can you build a large pension fund, but be careful, there are limits
  • Tax - what taxes? (income tax, IHT, CGT and pension taxes, and possibly corporation tax). What sensible steps can be taken to minimise the tax you pay?
Objectives

For attendees to be aware of the key issues in relation to practice profit and value, and pension fund maximisation, and how they might influence them.

To be aware of sensible tax planning strategies (nothing which incurs significant risk).

Overall, how to MAXIMISE VALUE, MINIMISE TAX.....and be happy!

Alan Suggett, Dental Business Unit Partner, UNW LLP (Dental Accountants)

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