I am seeing a new client dentist this afternoon with a large tax bill. I need to know the up-to-date position with regards to incorporation of dentists. Can NHS practices be incorporated or is it just the private fees element? Many thanks on this busy day!
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Watch the "goodwill" re: NHS list
I believe that I read somewhere, some years ago, that it was illegal for doctors to sell an NHS practice (or a doctors partnership receive a new partner) where money changed hands for the "goodwill" attaching to the NHS patient list. [Workaround = sell the premises at an inflated price and nil for goodwill?].
This leads me to wonder if a similar rule applies to NHS dentists. No problem for there being a goodwill value for the private patients list, but maybe NHS don't allow a goodwill payment to be made for the NHS list?
There will, of course, be consequential matters to deal with regarding superannuation (I suppose rather like subpostmasters who trade via a Ltd Co) to consider.