Planning for retirement

“Has the time come to start putting plans in place ready for your retirement? Are you considering a part or full sale of your practice to an associate or corporate dental group? Or are you planning to sell your practice and move on to a new endeavour? 

The decision to sell is never easy, but strategic planning is vital for both a smooth transition to the next chapter in your life as well as ensuring your approach is appropriate for an effective tax strategy taking into consideration the different tax regimes. The Dentistry sector in particular is highly complex and requires a specialist approach to the sale of a practice, and engaging the very best financial expertise that can guide you through the host of decisions and considerations is crucial.

As advisors with solid knowledge, specialist research, and industry experience we can help structure the most efficient sale of your practice, determine the value and identify your priorities for the target buyer you wish to find; for example you may want a full cash pay-out or may be willing to agree to deferred payments subject to patient continuity if this maximises the consideration. One of the key considerations is the tax consequences of the various exit structures, and we will provide crucial advice regarding the tax implications throughout the whole process to ensure the profitability is maximised. This major life transition means leaving your profession after years of hard work, not to mention breaking free of the emotional attachment to your business, so as your trusted advisors we can be there for every step of the way to ease the pressure and help you plan for tomorrow.”