Positive news for dentists in the Budget
Jon Drysdale of Chartered Financial Planners, PFM Dental, assesses today’s Budget. Headlines may focus on the fragility of the economy and the need to further cut public spending The Chancellor offered positive news on personal finances which could benefit dentists.
· Higher rate tax threshold to rise from £42,385 to £45,000 in April 2017. The majority of dentists are higher rate tax payers and will therefore feel the benefit.
· Many dentists employ their spouse and will take advantage of the tax-free personal allowance to rising to £11,500 also in April 2017.
· Annual Isa limit to rise from £15,000 to £20,000. This is a welcome increase to the alternative savings vehicle for those dentists no longer funding personal pensions (due to lifetime and annual allowance limits).
· Dentists trading as a limited company will welcome the changes to corporation tax, cut from 20% to 17% by April 2020. This may somewhat offset previously announced increases to dividend tax effective from April.
· Reforms to business rates will mean 6,000 small businesses pay no rates and 250,000 have their rates cuts from April 2017.
· Dentists buying a practice with a freehold property are likely to be affected by changes to commercial stamp duty – 0% rate on purchases up to £150,000, 2% on next £100,000 and 5% top rate above £250,000. The freehold of a dental practice is often valued at less than £250,000 so this could be an advantage to many buyers. However, buying a larger freehold practice, especially one in the south east, could make you worse off.
The much anticipated changes to personal pensions and tax relief didn't transpire - but we already expected that didn't we?
A more detailed appraisal of the 2016 budget will shortly be available at pfmdental.co.uk
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GDPUK Ltd announces sale of intellectual property to leading publisher Cogora Group
GDPUK Ltd today announces the sale of its intellectual property assets to Cogora Group, one of the UK's leading publishers of healthcare brands, events and educational platforms.
The decision to sell GDPUK’s intellectual property forms part of a considered transition to ensure the long‑term stewardship and development of the brand and associated assets. Cogora brings a wealth of experience and expertise to support the continued evolution of the dentistry brand within its wide portfolio of market-leading healthcare publications. Its award-winning titles include Pulse, a long‑standing and widely recognised source of political news and clinical education for GPs, Nursing in Practice, Management in Practice, The Pharmacist, Pulse PCN and Healthcare Leader, as well as two secondary care publications – Hospital Healthcare Europe and Hospital Pharmacy Europe. The purchase will cement Cogora as the biggest publisher of primary care titles in the UK and allow it to bring its expertise in providing news, analysis, opinion and groundbreaking stories to GDPUK, as well as continue giving dentists and dental staff a voice through its website.
“After careful consideration, we believe that Cogora is well positioned to take GDPUK’s intellectual property forward,” said Tony Jacobs, founder, editor and publisher of GDPUK.com . “This transaction provides continuity for the professional community associated with GDPUK and creates opportunities for future growth under experienced ownership.”
Tony will continue involvement in GDPUK on a consulting basis.
GDPUK Ltd has worked to ensure an orderly transfer of the intellectual property and wishes Cogora every success in its future development.