Specialist Services for Dental Professionals
For nearly 40 years we have been specialising in the healthcare sector. In that time we have helped many dental professionals make their chosen career a financial success.
If you are a:
- Newly qualified dentist
- Associate
- Principal
- Partnership
- Incorporated practice
- Dental body corporate
- Employed dentist, consultant or specialist including orthodontist or oral surgeon
- Self employed hygienist, therapist or dental nurse
then we can help you.
Cloud accounting
If you are not already using a digital bookkeeping system then we can provide this and set you up with training and conversion of your manual records.
Our Xero for dentists software is simple to use and tailored for your specific needs. It takes the hard work out of keeping your accounts in order and provides a clearer view of your financial position.
Tax planning advice to minimise your liabilities
Our aim for you is to increase your financial efficiency and keep more of what you earn. We will guide you through various tax issues, tell you what expenses you can claim and look at ways of structuring your business to increase profitability. You will also receive year-end tax and superannuation planning advice.
Read our latest guidance on claiming tax-deductible expenses for dentists.
Company formations
Many of our dental clients have benefitted from operating their practice through a limited company. This can give increased legal protection and the ability to extract profit in a more tax-efficient way. Your personal financial situation, such as retirement planning and required income, will need to be considered before we look at the pros and cons for you and offer our advice.
Employment status
HMRC withdrew an element of its previous guidance on the status of associate dentists from April 2023. Previously dentists engaged under the terms of the BDA’s standard form associate agreement were deemed to be self-employed.
Dental practices now need to use HMRC's Check Employment Status for Tax (CEST) tool to determine whether an associate is self employed or employed.
Please see our advice on determining employment status for associates using HMRC's CEST tool.
Practice sales and acquisitions
If you are thinking of buying or selling a dental practice, it is important to have an experienced adviser who knows the market. Not only can we advise you on the best time for your exchange, you will have the support of our network of solicitors, banks and valuation expects who act specifically for your sector.
Increasing your efficiency
Interested to know how your practice compares? We provide regular benchmarking reports to give you a measurement of your business performance against sector averages. These allow areas of underperformance to be identified and actioned. The reports are based on accounts submitted anonymously by dental accountants across the UK and enable us to provide you with the latest comparisons.
Supporting your industry
Morris Crocker is a long-standing member of the National Association of Specialist Dental Accountants and Lawyers (NASDAL). This is a UK-wide network of accountants and lawyers representing over one fifth of all dentists in practice. Its aim is to promote quality professional services to the dental sector. As well as meeting regularly to discuss issues of particular importance to dentists, NASDAL members compile the largest annual survey of dental practice performance and produce quarterly data on practice valuations and sales.
Keeping you informed
Each month we produce our own dentist enews so you are in the know about the latest tax and financial issues. We also produce general business alerts, budget summaries and end of year tax planning guides. If you would like to be added to our mailing list to receive these please email Margot Vere at m.vere@morriscrocker.co.uk
For more information on our services to the dental industry, please contact us on 023 9248 4356