Accountants for Dentists
At Approved Accounting, we provide accounting, tax and business advice so that your dental practice can focus on what matters most; patient care and the profit-generating aspects of your business.
Whether you are just starting out, looking to acquire or develop a well-established practice or making long-term plans for succession and retirement, we will work with you to understand your needs and offer practical solutions to meet them.
Dental accounting services we offer
We appreciate that managing a dental practice today is more complex than ever, due to constant changes in guidelines and legislation. But with our knowledge and experience, we can inform and guide you through the intricacies of operating in the private dental sector or NHS system.
Whether you are an associate or sole practitioner, or running a partnership or limited company, we can help you improve your systems, optimise your business structure and maximise tax efficiencies for a healthier financial future.
Online accounting for dentists
Here are just some of the reasons why:
- Xero enables dentists like you to efficiently manage cash-flow and check up-to-date information, allowing an easily accessible and accurate picture of your business’ financial position.
- Safely and securely stored in the cloud, Xero is simple to use and can be accessed from anywhere at any time. You can even view it in tandem with your dedicated accountant from Approved Accounting, enabling you to work together on growing and developing your practice.
- Xero can process your invoices by emailing them automatically on your behalf and alerting you once payment has been made.
- You can do your bit for the environment, as Xero allows you to be totally paper free.
- There is no need to keep hold of receipts either, simply scan them with a smartphone or tablet and upload them on to Xero.
Xero Gold Champion Partners
Tax planning and advice for dentists
Operating in the dental industry can give rise to some potentially complex challenges in terms of tax, pensions and accounting. Our expertise will help you to overcome these challenges and ensure your business is structured and operating in the most effective way possible.
Our aim is to increase your tax efficiency so that you get to keep everything you are entitled to through responsible accounting and intelligent planning.
Not only can we meet you regularly to discuss business challenges and opportunities but can also offer virtual FD services to help manage the bigger picture aspects of your business, as well as the day-to-day management of your accounting system. We tailor a package of services and support for every client according to their individual needs and budget.
Profitable dental practices with Approved Accounting
We can advise on:
- Assisting with setting up a new practice or expanding an existing one.
- Design and implementation of cloud accounting systems.
- Management reporting, including analysis and interpretation of key performance indicators.
- Operating your practice through a limited company, and the appropriate status for those working with your practice.
- Advising on VAT in relation to cosmetic dental services, property transactions, partial exemption etc.
- Payroll and workplace pensions services.
- Capital Allowances in relation to purchase of equipment and property.
- Accounting efficiently for NHS funding transactions.
- Advising on personal financial planning strategies and pensions.
- Carrying out due diligence for the incorporation of new associates buying into an established practice.
- Succession and exit planning advice including Capital Gains Tax planning.
- Tax planning in respect of the NHS pension scheme and annual allowance pension charges.
We offer a cost-effective service based around your business’ needs and budget. We offer one-off fees options and fixed monthly payment plans, and we will work with you to find the ideal solution – with no hidden costs – ever!
For more information on the accounting services we offer to the dental industry, get in touch with us today.
