Technical Section

We have a reputation for integrity and high standards as a general Chartered Accountancy practice, and you expect these standards and dedication in providing your core services; the annual accounts preparation, Tax Return submission and so on. However we are also a leading specialist Dental Accountant, and we are involved on a day to day basis in:

  • Practice sales and purchases
  • Practice and surgery expansions
  • Internal accounting assistance
  • Payroll and PAYE operation
  • Strategic practice review in the current economic and political climate
  • Practice comparisons

Practice Sales and Purchases

We engage actively with the Banks, solicitors and other professionals to facilitate as sensible and stress-free a deal as possible. There are some very serious tax planning issues, both on sale and on purchase, and these are grasped and fed into the sale/purchase contract at an early stage. We have close contacts with all the major specialist financiers, and will produce the business plans, cash flow forecasts and projections in the respective styles required. We will also negotiate with the banks on your behalf to ensure that the best deal possible for you is achieved. We also work closely with specialist solicitors to ensure all details are there form the outset and to help get it right first time where possible --- which minimises costs as well as stress for everyone.

Practice Expansions

We work with equipment suppliers and builders to ensure that the impact on your tax profile is optimised. For an extensive project, this can involve substantial tax savings if we get it right. In some cases (generally projects in the region of £1/4 m and above) we may bring onto our team a specialist surveyor to enhance the quality of the Capital Allowance claims even further and minimising the tax take. This is particularly critical in light of the recent changes announced in the 2009 Budget, and the potential for further changes over the next few years.

Internal book-keeping

We actively encourage you and your Practice Administrator to contact us with any queries you may have on your record keeping, as a query arises. It makes life easier all round, solves an immediate problem for you, and we can learn more of what is going on in your Practice and what makes it tick....surely a good thing!

Payroll Bureau

Our group offers a dedicated and specialist Pay Bureau system through our sister company Moyola Limited. You simply give us the pay details and we do the rest. But ……. this is not simply a processing system. We also have a technical assistance hotline for the employer and their staff, to help out with those little “what if …” questions which so often arise.

Practice Development and Strategy

In these times of change, practitioners must keep their longer terms strategies for their careers to the fore. Our aim is to build relationships with our clients, so that we are able to help formalise and develop such strategies in times of change, both within the industry and within the practitioner’s own life. You will find technical understanding at Minford, as well as empathy. The major issue at the moment for those exposed to the NHS is clearly the Contract, whether nGDS or nPDS. We assist with ongoing negotiations and dispute resolution with PCTs, and evaluating the financial implications of the UDAs or UOAs on offer. These financial implications in turn raise organisational questions, and strategic questions, and we have a very broad experience in this area. For Practices with a material private element, and those considering making the switch, we can use our experience to avoid the “what not to do” pitfalls and to smooth out the financial pathway for any bumps in growth or income levels. For fully independent practices, there will also be consequences over the next few years due to the NHS market changes, and we can keep you abreast of national and indeed local trends. One of the keys for all practices is a protection of the capital base, and the medium term attitudes to Goodwill given the changing exposure to the NHS.

Practice Comparisons

As members of NASDA, we contribute to the annual dental statistics database. The data is classified between NHS, Private and mixed practices, and also between Principals and Associates, so you can have a reasonably accurate benchmark of your practice profile. We are able to compare and contrast your practice with the “average” practice both nationally and provincially, highlighting certain aspects. This will often prompt you to examine areas of your practice for improvement.