Finance has become a key issue in dentistry following major recent changes in legislation that allow dentists to conduct business as a corporate body. However, many dentists receive little formal training in finance and can often miss out on extra profits and tax savings, or become reliant upon accountants and financial advisers who may lack dental expertise. This book aims to equip dentists with the knowledge needed to take an active role in their own finances - including taxes, income and expenditure, property matters and retirement - and provide an insight into what they should expect from a specialist financial adviser to the dental profession. Finance for Dentists has been written primarily for dentists and orthodontists currently in or planning to set up in practice, but will also be of interest to dentists employed in hospitals and other organisations within the NHS.
Introduction. Income & expenditure and where the money goes. The balance sheet and what I’m worth. NHS dentistry. Private practice. Property matters. Buying and selling a practice. Partnership, limited company or expense sharing arrangement? Associates, hygienists and staff matters. Taxation. Retirement and superannuation.