RESOURCES

This week has seen the release of the latest practice goodwill statistics from the NASDAL (The National Association of Specialist Dental Accountants and Lawyers) survey released. Perhaps rather aptly for the current political climate, the survey for the quarter ending 31st July 2018 shows a divided country with a huge disparity in practice goodwill values.

Across the quarter, NASDAL members acted for their clients in the sale of practices with a range of values between 47% of gross fees and 313% of gross fees. A wide range indeed. The headline figure for deals was up slightly – an average goodwill value of 136% of gross fees – a return to the level of the quarter ending 31st January 2018. Average valuations saw a big drop of 12% from the quarter ending 31st July 2018. NHS practices are still in huge demand with a significant number of sales in the quarter at considerably over 200% of gross fees.

NASDAL (National Association of Specialist Dental Accountants and Lawyers) has released its latest Benchmarking Report and it seems to show a gap in profits opening up between mixed practices and those that focus solely on NHS or private work. The report which uses figures from the financial year ending 5th April 2017 sees the average profit per mixed practice at £130,076 (per principal) – a level nearly £10,000 behind that of a typical NHS or private practice.

This week saw the results of the latest UK-wide NASDAL (The National Association of Specialist Dental Accountants and Lawyers) goodwill survey announced and they seem to show a market that is a little less bullish and perhaps more uncertain than it has been in recent times.

It seems that the single-handed dentistry model may be a thing of the past in the UK. The latest NASDAL (National Association of Specialist Dental Accountants and Lawyers) Benchmarking Report has just been released and shows a decrease of almost 12% in profits for single-handed practices in just two years. In 2014 the average net profit per principal in a single-handed practice was £119,732 and by 2016 this had slumped to £105,914. This compares with a figure of £138,511 average net profit per principal in 2016 for a practice with associates.

This week sees the results of the latest NASDAL (The National Association of Specialist Dental Accountants and Lawyers) goodwill survey published and practice valuations continue on their upward trend.

It seems that NHS Scotland is keen to find out more about the way dentists in Scotland structure their business affairs.

HMRCs new Making Tax Digital (MTD) scheme¹ will present ‘a severe headache’ for the majority of dentists and be yet another cost that they will have to cover. That’s according to NASDAL (the National Association of Specialist Dental Accountants and Lawyers).

What a difference a year makes! It is amazing to think that just twelve months ago we were listening to a bullish statement from Chancellor George Osborne (his first in a Conservative government), about how the deficit would be turned around to a £10 billion surplus by 2019-20. One year on, post Brexit, a more divided UK and with Donald Trump as President Elect, the world is a very different place.

This week saw the results of the latest NASDAL (The National Association of Specialist Dental Accountants and Lawyers) goodwill survey announced. There had been a certain amount of debate concerning what effect the EU referendum, uncertainty and the vote for Brexit might have had on the goodwill value of practices.

The cost of compliance to the average sole practitioner practice has increased by more than 1086% in the last decade. That’s according to a recent investigation by the National Association of Specialist Dental Accountants and Lawyers (NASDAL). This sees an even greater increase than in 2014 when NASDAL last ran such an investigation (and a figure of 845%).