Whether you practise as a sole trader, within a ‘true’ partnership, or as part of an expense sharing partnership, our comprehensive support will help you to enjoy the best return from your investment in the business.
Annual compliance work
When we prepare your annual practice accounts and tax return we will ensure that you have plenty of time to plan for your tax liabilities. As specialist dental accountants we will also ensure that all relevant business expenses are claimed against your income. Our aim is always to help keep your tax bills as low as possible.
Hazlewoods is a member of the National Association of Specialist Dental Accountants and Lawyers (NASDAL). Our participation gives us access to a range of national dental practice statistics which can be used to benchmark your practice’s performance and identify areas for improvement.
We can review the tax structure of your practice, take your specific circumstances into account and provide appropriate tax planning advice.
Incorporation is one option. We have achieved five-figure reductions in the tax bills of some of our clients by reorganising their practices as limited companies. Depending on your circumstances this may be an option that is open to you.
Management accounts and payroll support
Our management accounts expertise will help you to manage your business or satisfy the requirements of, for example, a bank covenant. Should you require payroll support, our experienced team will take care of your monthly and annual processing and reporting requirements.
For further information visit our Outsourcing and Payroll sections of the website.
We are an authorised Sage dealer and can provide your administration team with appropriate software training. This will enable you to extract and review financial information whenever you need it.
Refinancing, refurbishment or expansion
Practice management is a dynamic process which continually changes and evolves. We can help you with:
- Structuring practice finances in a tax-efficient manner
- Timing expenditure to maximise capital allowances
- Classifying expenditure to maximise tax relief
Please get in touch before you make any final decisions as tax rates and allowances regularly change. Timing is everything.
If you are considering the acquisition of another practice, call on our skills. We can look at the structure of the transaction and ensure that the acquisition is undertaken in a tax-efficient manner.
Our colleagues in Hazlewoods Financial Planning regularly advise dental clients on financial planning matters, including savings, pensions and health or critical illness insurance. For further information visit our financial planning section.
Retirement or sale
If you are thinking of retiring or selling your practice or share, we can help you to plan a better exit strategy, maximise the value of your business, time the sale in a tax-efficient way and generally minimise your tax liabilities. Our financial planning colleagues can also help you to make the best arrangements for pensions and investments.