What is the best company type for a dental practice?

0

Hi

I have worked as a dental surgeon at an NHS practice for several years, but I would now like to develop my own private practice. I know nothing about the private sector, though. What sort of private company type should I pursue to develop a dental practice? Please advise.

Many thanks,

Ben Metcalfe

Answers

0

Dental practices are often set up as partnerships. This enables each dentist to be a self-employed partner in the business and take responsibility for their own client list and workload, management contribution, profit generation and tax.

It is also possible for partnership businesses to incorporate as limited liability partnerships (LLPs) rather than general (traditional) partnerships. This allows the partner to limit their personal liability for business debts and claims, but they still get to enjoy the flexible setup and taxation of a traditional partnership structure.

There are several other suitable business structures available for dental practices, including sole tradership and a limited company, but I would urge you to speak to a you an experienced dental solicitor or accountant to discuss your options and provide specialist practitioners advice.

If you decide to set up your own practice - whether you choose to set up a private squat or take over an established practice - your dental legal advisor or accountant will guide you through the process and advise you of the best structure.

a year ago
 

Your answer

 

Browse other questions tagged #limited-company #dental-practice or Ask a new question