Incorporation of a dental practice is a more complicated transaction than many might think, if the advisers are properly to optimise the benefits for their clients. There are also a number of longer-term consequences, both positive and negative. NASDAL specialists will always go beyond the short-term benefits and explain the full and complete consequences of incorporation. This is particularly relevant right now. Recent tax changes have caused many dentists to consider disincorporation, due to increased tax exposure. Disincorporation, in turn, brings its own complications.
There are of course still reasons to incorporate other than the simple reorganisation of affairs to reduce tax. Assuming incorporation still makes financial sense, the purpose of this guidance is to highlight and illustrate the tax consequences of incorporating under current rules.