Healthcare and Dentists
Running a successful practice requires good financial planning and management. As well as routine accountancy and taxation services, a range of specialist services will also help you manage your practice more effectively.
We are experienced in working with dental and healthcare professionals. We understand that the right support can make a crucial difference when you are dealing with acquisitions or disposals, incorporation, specialisation or diversification within your practice, or moving from NHS to private.
At BKL, we don’t just prepare your accounts to comply with the statutory requirements. We also make sure you understand exactly what they mean.
We are committed to understanding your long and short term goals. We can advise you on how to improve your practice’s financial health and identify any potential hazards before the decay sets in.
Tax compliance and planning
When we complete your accounts, we will ensure you are fully compliant with the latest legislation and make the most of all the available allowances and reliefs to minimise your liabilities.
We will also advise you on how to mitigate or defer any liabilities. We ensure that the advice we provide matches your own objectives.
We can also advise on the tax implications of the incorporation process.
Our outsourcing team can take care of your PAYE scheme. They will make sure that the correct deductions are made from employees’ pay and that you are compliant with all payroll legislation.
We can deal with:
- Calculation of salaries, bonuses, overtime and commission
- Completion of P45s and P46s
- PAYE and National Insurance deductions
- PAYE inspections
- Year-end returns
- Bookkeeping and management accounts
- Human resources
Every practice knows that its people are its most important asset, but finding the right employees can be a daunting prospect.
We can guide you through the recruitment process to ensure you choose the most suitable staff, then help you make the most of them and avoid any potential problems. We also advise on policies, procedures, employment contracts and staff handbooks, making sure they are in line with current legal requirements and codes of practice.
We can provide you with regular management information to make decisions about business strategy, finance and other growth issues.
Our solutions will help your practice to be as successful and profitable as possible, generating the level of income you require to fund your retirement. We can also advise on succession planning.
Our corporate finance team can arrange and support the acquisition or disposal of a dental or healthcare practice.
Depending on your needs, we may take a lead role in the process, identifying a funding source and negotiating the best possible deal for you. In other cases, we may offer support services, including financial due diligence, valuations and advice on an appropriate deal structure, taking into account legal, financial and tax issues.
Whatever capital investment you may be considering, we will always assess its viability for your complete peace of mind.
Personal financial planning
In addition to helping ensure the success of your dental practice, we also provide specialist independent advice to dentists on personal financial matters.
Our guidance covers:
- All forms of protection, including life assurance, critical illness and income replacement cover, sickness and key man insurance
- Employee benefits packages
- Investments for children
- Pension, retirement and inheritance tax planning
For more information or help from one of our specialists, please contact us via the enquiry form below.