When it comes to buying a dental practice, there are five business structures to potentially choose from:
1. Sole practitioner
2. Expense-sharing agreement
4. Limited company
5. Limited liability partnership (LLP)
The format that one chooses not only affects the transaction, but also the way in which the practice operates on a day-to-day basis – including the amount of tax that is owed.
Thus, it is important to consider all potential advantages and disadvantages before commencing any transaction. Not to mention, how it might impact an exit strategy later down the line.
With a century of experience between them, the team at Dental Elite is equipped to provide expert guidance to practitioners looking to buy or sell a practice. The agency can also assist in locating a suitable legal representative, at no extra cost, to help with accompanying aspects of the sale and acquisition process.
If you would like to find out more on the five business structures and how they could impact you, contact Dental Elite for advice now.
For more information on Dental Elite visit dentalelite.co.uk, email email@example.com or call 01788 545 900