For anyone setting up a dental practice or business, the first decision to make is whether to operate as a sole trader, partnership or limited company. We can help you come to this crucial decision by talking through the pros and cons of each in relation to your personal financial position and your future plans.
A limited company has its own legal identity, so third parties contract with the company rather than the individual directors and shareholders. Because corporation tax rates are lower than income tax rates – currently 19 per cent – incorporation may well prove more advantageous to you than setting up as a sole trader or partnership. Beginning with registration of the company at Companies House, Long & Co will assist you at every step of the incorporation process.
If self-employment is more appropriate for you, we will guide you through such issues as National Insurance, allowable expenses and tax planning in the long term. Whatever business structure you choose, sensible tax planning is essential to making the most of your finances and boosting the profitability of your business.
Call 01438 722224 today for an informal, no obligation discussion about starting a limited company