Dental Tribune United Kingdom Edition

Nov 26 - Dec 3, 201226 United Kingdom EditionPractice Management FOR DENTISTS MORE MORE EXHIBITORS Over 350 UK and international suppliers (including 100 new for 2013) will offer advice and demonstrations of the latest dental products, technology and services. MORE FREE EDUCATION Learn from inspirational speakers including Maurice Salama, Ron Jackson, Sylvie Sturrock, Gary Takacs, Paulo Malo who will cover key subjects such as implant aesthetics, direct composites, total rehabilitation with the ‘All-on-4 Concept’ and a blueprint for team building. MORE CPD Full-day conference programmes for every member of the dental team, plus mini-theatres presented by the Association of Dental Implantology (ADI) and the British Society of Periodontology (BSP). A bigger Live Surgery and a full range of hands-on, clinical and business workshops. MORE NETWORKING With over 6,000 dental professionals expected, longer conference break times will mean plenty of networking with colleagues, peers and friends throughout the day, and at Friday’s delegate reception. MORE FOR THE WHOLE TEAM All this, and it’s for FREE! Please note, places for certain sessions are limited for 2013, so please register TODAY for your FREE place! Visit www.thedentistryshow.co.uk/DentalTribune or call 01635 588 482. REGISTERFOR FREETODAY! Friday 1st March – Maurice Salama Saturday 2nd March – Paulo Malo DON’T MISS! L ast month, we looked at the types of unin- corporated business structures that a dentist can opt for when setting up a new practice. This month, we will focus on corporate business structures. One of the hot topics at the moment is incorporation. Traditionally, dental practices have operated as sole prac- titioner, principals or part- nerships; however, the tax benefits available through in- corporation are tempting in- creasing numbers of dentists to give their business a legal personality of its own. Specialist dental account- ants have estimated that in a typical dental practice a practitioner could save con- siderable sums annually by incorporating. The savings are achieved by reducing or eliminating the amount of tax paid at 40 per cent and reduc- ing the national insurance lia- bility. There may be some ad- ditional administrative costs associated with operating as a company but these are likely to be minimal compared to the level of savings that may be achievable. We certainly recommend that specialist dental accountant advice is obtained from a member of National Association of Spe- cialist Dental Accountants and Lawyers (‘NASDAL’) about the financial implications of in- corporation in relation to your own practice before making any decisions. Quite apart from the poten- tial savings, there are other benefits that can arise on in- corporation, particularly with regard to the limitation of lia- bility and the ability of compa- nies to transfer their business by means of share transfers. As a sole practitioner or part- ner, while the majority of the practice’s liabilities are likely to be covered by insurance, if things do go wrong, a dentist could suffer huge personal losses. Where there is a company structure, the company is a legal person in its own right and bears the liability itself. Shareholders are only liable for the fixed amount expect- ed to be paid for their shares when they became sharehold- ers (in most cases this amount will have been paid on sub- scription) if the company goes under. Note, however, for new companies or those with min- imal capital, banks and land- Setting Up On Your Own Andrew Lockharts-Mirams and Puja Patel look at Corporate Business Structures ‘We certainly rec- ommend that spe- cialist dental ac- countant advice is obtained from a member of National Association of Spe- cialist Dental Ac- countants and Law- yers (‘NASDAL’)’