Having only just got over the shock of the Brexit result (just about) and Theresa May’s decision to hold a snap election, the country is once again plunged into uncertainty as the Election Results for 2017 reveal a shocking outcome for the Conservative party. What was meant to be a straightforward win for the current Prime Minister – or so she thought – has instead ended in the humiliation of a hung parliament. As a result of this, Mrs May and the rest of her party face the prospect of having to form a minority government – a far cry from the majority vote and ‘stronger mandate’ she was hoping for.

In comparison, the election has been somewhat of a victory for Jeremy Corbyn and the labour party, who have gained a considerable number of seats across the UK, including Sheffield Hallam which was previously held by the former leader of the Liberal Democrats, Nick Clegg.

To form a minority government, Theresa May will require the assistance of the Democratic Unionist Party, who she says will work together having “enjoyed a strong relationship over many years”. Were anything to happen, however, the Tories will not have the 326 seats required for a majority to pass a legislative programme.

Labour, in the meantime, will likely turn their efforts to forming their own minority government. After all, if the Conservative’s plan doesn’t pan out the way they want it to, Jeremy Corbyn could yet become Prime Minister. The question is where does this leave the dental profession?

Before the results were even properly announced we saw a fall in the value of the sterling compared to the dollar and the Euro. Between the uncertainty of a hung parliament and speculation about how the final result will impact Brexit negotiations moving forward, we are once again faced with the prospect of higher imported goods’ prices and an increase in overheads.

As for how dental practices, along with other small businesses will be affected by the whole thing, it is not yet clear what the future holds. What we do know, however, is that if May is successful in forming an alliance with DUP, there will be a number of changes made to taxation throughout 2017 into 2020. Personal Allowance, for instance, would rise to £12,500 as planned, as would the Higher Rate Threshold, which Mrs May has promised would increase to £50,000 by 2020. With scheduled reductions also due to take place to Corporation Tax (CT) if the Tories stay in, it is clear that dentists would have much to gain from a Conservative government. In regards to pensions, dentists must consider how proposed changes would affect their financial planning moving forward.

In the event that Jeremy Corbyn steps in and tries to run a minority government or form a coalition, it could be somewhat of a mixed bag. Indeed, while Labour’s promise to review business rates and bring in a small profits rate of CT for SMEs would no doubt be welcomed by many in the profession, increases in Income Tax for those earning over £80,000 certainly wouldn't be, nor would an increase in CT for larger businesses.

Brexit, in the meantime, is scheduled to go ahead as planned, so the best any of us can do is wait and see what happens!

For more information please call 0845 345 5060 or 0754DENTIST.

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Historically, stocks have achieved an average return of around 10 – 12 per cent over the long-term, and are notoriously well known for outperforming safer investments such as bonds or savings accounts. As such, having a share in the ownership of a company can be a worthwhile investment, particularly if you are willing to put your money into a riskier venture.

There are two main classes of stock: these are known as common or preferred. As the name suggests, common stock make up the vast majority of shares available and are generally considered to entail the most risk. Indeed, if the company goes bankrupt, shareholders do not receive any money until the creditors, bondholders and preferred shareholders are paid. On the plus side, being a shareowner entitles you to a portion of the company’s profits, so if the going is good, you could potentially see a significant return on your investment.

By owning stock(s) you are also entitled to one vote per share when it comes to electing the board of directors at annual meetings. So while having shares doesn't give you any power in the way the business is managed, your voting rights means you do have an opinion in who is in charge, and by association, the direction of the company.

Preferred stocks, however, don’t usually afford the shareholder the same rights, so if this is important to you as an investor, it is crucial to choose ventures that do allow you to vote. The other aspect to take into consideration is the way in which the money is paid out – unlike common shares, investors are usually guaranteed a fixed lifetime dividend, which could be ideal if you are looking for a safe, consistent income for retirement. When deciding upon which type of stock to invest in, it is always worth considering the option of a collective investment scheme. This is where shares are pooled into one investment to maximise returns and minimise tax.

There are innumerable different companies that you could potentially invest in, so before you make your move, take the time to shop around. And, if you are looking to make a much larger investment, you could consider taking over a dental practice. Indeed, if an incorporated practice is looking to sell, it will usually do so through selling their stock – as more often than not the principal owns the majority, if not all of the shares. By buying these shares you take over as the main owner of the practice, which holds numerous opportunities.

All in all, there are a number of roads to go down with shares, which if you play your cards right, can pay dividends – literally! To get the most out of your shares or for advice on buying or selling, it is best to seek guidance from an Independent Financial Adviser, such as those at money4dentists.

There is a lot to consider when trading shares, so make sure you are prepared – getting caught out will cost you.

For more information please call 0845 345 5060, 0754 DENTIST, email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.money4dentists.com

Richard Lishman from Money4Dentists shares his thoughts on Brexit and what it will mean for Dentists in the UK.

So it’s happened. Voters in this country have supported a split from the European Union and, for the first time in just over forty years, the UK will be heading out into the future without its Continental neighbours.

When the news broke on the 24^th, there was a lot of panic and uncertainty. The FTSE 100 dropped approximately 8.7 per cent, the strength of the pound plummeted to levels unseen for almost 30 years and the Prime Minister, David Cameron, announced his plans to step down in October. A pall of hysteria seemed to envelop the country… but is it really that bad?

Well, the most important thing to remember is that nothing is going to happen over night. A lot of things are up in the air right now, but they will settle. The market has gone up and down for years but it has always normalised. If we look back to the Scottish referendum, the FTSE experienced similar turmoil, but it went back to normal quickly enough. The main thing is to stay calm and not be too hasty in despairing.

In some cases, there may even be a chance for people to make a little money. In terms of equities, some may stand to make money if they buy carefully whilst prices are down and wait patiently for when the market returns to normal. Indeed, by being careful and investing wisely there can be much to gain at the moment. Of course, many individuals may be tempted to sell rather than buy right now, but this is more a product of inexperience than financial foresight. People are anxious and when they start to see the risk, they can panic and make mistakes.

It would be far better to approach this change with consideration and patience. Once the market has settled and the smoke has cleared, people will almost certainly have forgotten about the day we Brexited.

For dentists, one of the most crucial things to remember is that people will always have teeth – whether they’re part of the EU or not. The population will not suddenly stop needing to go to the dentist. There may be an initial dip in attendance whilst uncertainty reigns, but this will more than likely return to normal in due course – dental pain, after all, is and likely always will be a constant.

One thing, however, that some dentists may need to consider, if they achieved their qualifications in the EU but now practise in Britain, is that these may not be valid once the UK become independent. Of course, this is an eventuality that is still a long way away from becoming a reality, but it is something that might be worth researching to cover your bases.

But on the other hand, there may even be a chance for the UK dental economy to flourish. UK dental laboratories could see an increase in business if practitioners no longer have the option to work with overseas laboratories due to quality and standards incompatibility. Similarly, dental tourism may begin to tail off if EU dental qualifications lose their value in the UK and flights abroad increase in price.  

There are a lot of negatives that could come out of Brexit, but there are also a lot of positives that can be found – and these are most certainly worth looking for. Of course, if you are ever uncertain or concerned about your financial situations in the days and weeks following Brexit, it is always worth contacting an Independent Financial Adviser for, if nothing else, a little reassurance.

For more information please call 0845 345 5060 or 0754DENTIST.

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With the new tax year looming, it is important to re-examine how the latest Budget – the first Conservative Budget for 19 years – will affect the dental profession. Having had time to evaluate the pending changes, it seems that dividend taxation could have the largest impact, especially those drawing dividends from their own limited company.

As dividends from UK shares are currently paid for with a 10% tax credit, previous years have presented incorporations with opportunities for reducing tax. From 2016, however, all dividend income will be treated as untaxed income and the current system will be replaced with a tax-free dividend allowance of £5,000 with higher taxes on income above that. What this ultimately means, is that practices will see a 7.5% increase in tax on any dividend income above the £5,000 tax-free allowance.

Although this is an aspect that will undeniably affect incorporated practices and their overall income, for those considering the decision to incorporate in the future, it could be pertinent to seek out professional financial advice to determine if it is the right decision to make.

In regards to dividend income received on Stocks and Shares ISAs and private pensions, however, thanks to the 1997 Budget, there will be no tax consequences introduced. This is good news for private pension protection, especially as tax relief claims will shortly be changing from £40,000 to £10,000 for dentists with incomes over £150,000 per annum.

The changes to employment allowance, income tax and inheritance tax are much more promising. Indeed, as from April, the employment allowance will be increased from £2,000 to £3,000 for all private practices. With the additional increase of the income tax higher rate threshold from £42,385 to £43,000, the Budget does present potential benefits to practices and dentists alike.

This is especially true where inheritance tax (IHT) applies. With the transferable main residence allowance set to gradually increase from £100,000 in April 2017 to £175,000 per person by 2020/21, this may prove to be a comforting thought for dentists and their families who have concerns about the effects of the Budget.

All in all, the Budget has revealed some interesting changes. While George Osborne and his fellow Conservatives expect to see public finances run at a surplus from as early as 2019, it would be prudent for all practices and dentists to stay cautious of what the future holds. Ultimately, until the changes take full effect it is uncertain what financial downfalls and benefits may occur, which means for now, preparation and calculation are very much advised.  If you are unsure of how the Budget affects you, contact money4dentists today.

For more information please call 0845 345 5060, email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.money4dentists.com

The majority of dentists will not be financial experts. The team at money4dentists are.

Running a dental practice as a successful business includes many complicated aspects, some of which are far beyond the knowledge imparted at dental school. To achieve business prosperity and security these factors need to be efficiently managed. 

This is where money4dentists can help. With excellent knowledge of the dental sector, the team of expert advisers can help with any financial query practice owners might have. As IFAs, they offer objective, unbiased advice – meaning you can be assured that the only thing they have in mind is your best interests. 

Whether it’s income protection, mortgage advice or tax planning, the IFAs at money4dentists will you their in-depth knowledge to offer you relevant and appropriate advice, every time.

Contact the friendly and professional team to find out just how they could help you today.

For more information please call 0845 345 5060 or 0754DENTIST.

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