Autumn Statement – the good news for dentists
The Chancellor, George Osborne, delivered the last Autumn Statement of this parliament today. Jon Drysdale of PFM Dental highlights items of interest to dentists.
Tax and duty
The personal tax-free allowance is to be increased and the higher rate tax threshold increased from £41,861 to £42,385 – the first increase in line with inflation for five years.
Reform of stamp duty means an estimated 98 per cent of home buyers will pay less, while those purchasing very high value properties will pay significantly more.
Small businesses
The Funding for Lending Scheme (FLS) has been extended by one year. This government-backed lending is available to small businesses, including dentists, through the major high street banks.
A full structural review of business rates was announced with Small Business Rate Relief to double again and rates capped.
Savings
The £15,000 ISA limit is to be increased to £15,240 from next April. ISA tax-free savings can be passed to spouses on death from next April.
Pensions
There was confirmation that the 55 per cent pensions death tax charge on unused pensions is to be abolished.
Jon Drysdale, an independent financial adviser from PFM Dental, commented: “The vast majority of dentists are likely to benefit from the increase to the higher rate tax threshold and the reform of stamp duty. Existing and future practice owners will welcome the continuing support for small businesses through the extension to the Funding for Lending Scheme and the capping of business rates."
PFM Dental offers independent financial advice exclusively to dentists. For more information visit www.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.