NASDAL, the National Association for Specialist Dental Accountants and Lawyers, has issued new guidance to help dentists understand the complexities of incorporation.
If you are considering incorporation or want to check that the advice you have been given is accurate, consult the guidance on the NASDAL website – www.nasdal.org.uk/docs/NASDAL-Guidance-Incorporation.pdf.
The two NASDAL members who have compiled the guidance are chartered accountant Johnny Minford and solicitor, Russell Abrahams.
They have both recently helped dentists who had incorporated without considering the full implications of the process.
Johnny and Russell’s aim on behalf of NASDAL is to set the record straight for others in the profession.
Their new guidance for NASDAL covers:
· The assets and liabilities to be included in the limited company
· Goodwill
· NHS contract issues
· The NHS pension scheme
Their message to dentists is that if incorporation seems straightforward, then more research is essential. Incorporation can be advantageous but it must be carefully weighed up with the help of specialist advisors.
