Maximise Your Tax Benefits When Buying a Dental Practice - Henry Schein Dental Practice Sales

Maximise Your Tax Benefits When Buying a Dental Practice - Henry Schein Dental Practice Sales

What Are Capital Allowances?

As a UK taxpayer, capital allowances offer a fantastic opportunity to reduce your taxable profits when buying a dental practice. These allowances provide tax relief on your expenditure related to commercial properties, including plant and machinery items within the building's fabric. Often overlooked in the overall purchase price, these items, such as radiators, heating systems, alarms, and more, can be claimed to help you save on taxes.

What Could This Allowance Be Worth?

Capital allowances' value varies based on the type of business use and property. A typical dental practice purchase may claim up to 50% of the purchase price or build cost as an allowance, effectively lowering your income and corporation tax liability. If you've already paid taxes on your investment, you could even be eligible for a refund from HMRC.

How Is This Allowance Used?

Your accountant can utilize up to 18% of your total tax-allowable expenses to reduce your annual income tax bill significantly. For example, if you have £100,000 of allowable expenses and receive an £18,000 tax reduction, you'll save £7,200.

Frequently Asked Questions

Find answers to our most frequently asked questions from our clients.

How long will it take to sell my dental practice?

The length of time can vary depending on the practice type and buyer type. Typically a practice sale completes within 4-10 months. For a more detailed discussion about your own circumstances please contact us.

When is the right time to sell my dental practice?

What are the current dental market trends?

What do buyers look for in a dental practice purchase?

What documentation will I have to prepare to sell my dental practice?

Back to Search