Planning for retirement or selling your dental practice?

Avoid unexpected bills with forward planning

Whether you're preparing to retire or looking to sell your dental practice, it’s essential to plan ahead to minimise your tax liabilities. With the right strategy, you can reduce exposure to Capital Gains Tax (CGT) and Inheritance Tax (IHT) while ensuring a smooth financial transition.

Capital gains tax (CGT)

CGT may apply when you sell a valuable asset such as your dental practice or premises.
Key considerations:

• Tax rates depend on your income and the type of asset sold
• Effective use of your Annual Exempt Amount can reduce your bill
• You may be able to offset gains with previous losses
• Advance planning can unlock reliefs and exemptions

Inheritance tax (IHT)

A proactive approach can significantly reduce the IHT burden on your estate:

• A valid Will ensures your assets are distributed tax-efficiently
• Avoid intestacy rules, which may trigger unnecessary tax costs
• Trusts can be used to pass on wealth in a controlled, tax-effective way
• Make use of available reliefs, such as the Nil Rate Band and Residence Nil Rate Band

Business property relief

With careful planning, you may be able to remove the value of your dental practice from your estate for IHT purposes.

• Certain lifetime gifts become tax-free if you survive for 7 years
• Business assets may qualify for relief, reducing or eliminating IHT liability

Planning for succession

If you hold income-producing assets such as shares, you might consider gifting them to family members to reduce income tax exposure and ease succession planning.
Professional guidance is essential to avoid unintended tax consequences.

Speak to a specialist

Every dental practice is different, and so is every exit plan. Whether you’re selling, retiring, or transferring ownership, our expert advisors can help you create a tax-efficient strategy tailored to your goals.
Get in touch with our team to start planning your next step.