Incorporation

Many healthcare professionals currently trading as sole traders or partnerships could enjoy substantial benefits by incorporating their practices and trading instead as a limited company.

This is a complex area and in order to maximise the opportunity, there are a number of different facets which are not immediately obvious to professional advisers not experienced with this.

Incorporation of medical and dental practices is Lansdell & Rose’s principal specialisation.

Incorporation can bring with it many potential benefits, including tax benefits, and we are constantly talking to health care professionals about whether incorporation is for them – and how they can best take advantage of the many components to an incorporation.

Opinion on the subject of incorporation has been decidedly mixed, and there are in fact some client circumstances that indicate that incorporation is not the best route, and it is therefore not right for everyone.

This is a particularly topical issue for dentists, who since 1955 have not been allowed to trade as limited companies. However, since July 2006, dentists’ ability to trade through limited companies has been widely expanded, yet relatively few have taken advantage of this opportunity.

So that you can more fully explore the option of incorporation, we are happy to meet with you for about an hour on a no-fee, no-obligation basis to assess with you whether incorporation is right for you, and if so, what the benefits would be in your own unique circumstances.

Of the incorporations with which we have been involved, the average outcome to our client has been a reduction of 50% in their tax bill, along with many other benefits.

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"I like the fact that since I started using Lansdell & Rose, my tax bills have halved."

– Dr Norman Gluckman, Endodontist, London