Tips for minimizing risk

Hazlewoods, chartered accountancy firm and specialist advisor to the industry, is advising dentists to minimise the risk of an Inland Revenue enquiry with regards to certain claims on expenses. Hazlewoods is a member of the Association of Specialist Providers to Dentists and the National Association of Specialist Dental Accountants.

For further information, please contact either David Granger or Nick Hemmings at Hazlewoods on 01242 680 000.

Reader response number: 055

Finance for pro's

Finance4professionals is a specialist financial services company providing financial services to professional people. The company claims to arrange lower cost, flexible financial products based on the low-risk status of professionally qualified people and does not charge a brokerage fee for services.

Finance4professionals offers mortgages at over four times salary (based on multiple incomes), 110% loans and some exclusive products, which often have the lowest interest rates on the market. Its rates for business finance are from as low as 1% above the Bank of England Base Rate. The company has also launched a separate advisory service, called Birchin Wealth Management, that is regulated by the Personal Investment Authority. It is a fee-based service that actively guides professionals through their personal and business investments.

For more information, call 08450 553553.

Reader response number: 056

Pay the easy way

A new finance option from KaVo allows purchase of a new surgery system with nothing to pay for six months from date of installation. Then, to reduce monthly outgoings, the cost is spread equally over 60 months.

KaVo believe that this option will be of particular benefit to those starting a new practice as the scheme helps dentists to control cash flow and allows six months to build up a patient base and income before payments start. The KaVo surgery systems start at £8950 plus VAT.

For information, call Kimberley Wells at KaVo on Freephone 0800 281 020.

Reader response number: 057

Practice Plan's cover

Practice Plan has announced improved accident and emergency insurance cover.

The benefits of this enhanced cover include:

  • Emergency call out is increased to £120.

  • Hospitalization benefit increased to £35 per day after the first day.

  • A reduced excess of £25 for extra-oral trauma.

  • Cover for intra-oral trauma with a reduced excess of £125 for intra-oral trauma.

  • Higher limits on crown and bridgework and cover for dental implants at £1000.

  • Oral cancer (upon diagnosis) is increased to £2000.

  • Comprehensive patient redundancy protection. If a patient is made redundant the policy will pay the cost of their scheme membership for up to 12 months.

The administration and insurance fee is £1.71 per month (including VAT and IPA) and Practice Plan is committed to maintaining the fee structure for the next five years.

For further information, call 01691 677966.

Reader response number: 058

TMS support

Team Management Systems has recently expanded its head office to ensure that its support services will continue to keep pace with the growing demand for its dental software, 'Arthur'. Their support department currently comprises:

  • 11 programmers.

  • 13 TMS engineers located throughout the UK to achieve efficient service. TMS says the engineers have the expertise to support another company's hardware if the practice system requires it.

  • A helpdesk with 15 staff on call Monday to Saturday available to talk to at normal call rates

  • TMS does not use third party hardware engineers. All TMS engineers work solely in dentistry and TMS claims they understand the importance of keeping a dental practice computer online.

All software and hardware support is covered by the TMS annual support agreement with no hidden costs. In addition, TMS also offers all its customers the opportunity of continuous training for the whole dental team.

For further information, call 01296 616600.

Reader response number: 059

Flexible funding

The Bank of Scotland has launched a new range of flexible funding packages for the dental profession that will enable dentists to set up, buy into or grow a practice.

A team of business managers will support and develop funding schemes for the dental profession. The Bank of Scotland claims to have one of the fastest response times in the industry and the bank's centralized underwriting process endeavours to ensure the loan diagnosis is made within 72 hours of the full application being submitted.

Tailored funding packages can be used to purchase premises, increase working capital to fund further development of the practice, fund a merger or acquisition or purchase shares from a retiring partner. Funding packages are available from £75,000 and can include up to £300,000 as unsecured lending as well as 100% secured lending against the value of a property. The Bank of Scotland also offers specialist insurance products that will support each funding package.

For further information, contact Barry Gardner (Bank of Scotland) on 0131 659 0066 or Lynn Hunter (Beattie Media) on 01324 602 554

Reader response number: 060

Website for GDPs and VDPs

The Dentists' Provident Society has a new website especially for practising GDPs and VDPs.

The website offers advice and information to help dentists choose and arrange appropriate sickness and accident cover, with easy calculation of monthly premiums. The site also helps users find out about benefit levels or how to increase existing cover and includes a questions and answers page to help with enquiries.

There is also easy access to a direct personal contact to discuss options or requirements in greater detail. The Society says its insurance has the added advantage of a tax-free lump sum payable on retirement. For more information, ring 020 7222 2511 or go to www.dps-ltd.co.uk

Reader response number: 061

Meeting the needs of dentists

NatWest has employed several measures to ensure it is meeting the needs and requirements of dentists. Part of this approach includes the St James's Dental Unit.

The centre provides direct access to specialist dental managers and their teams, who between them look after over 3,000 dental accounts. NatWest employs 10 healthcare business development managers whose sole purpose is to assist healthcare businesses not currently banking with NatWest.

The bank has a nation-wide network of over 205 business managers. Finally, NatWest provides a professions direct debit originator service – that it claims is ideal for dentists operating a private capitation scheme.

For more information, contact the NatWest Professions Unit on 0207 920 5796 or 0207 454 2853.

Reader response number: 062

Medical Sickness Society support

Medical Sickness Society, the specialist financial adviser to doctors and dentists, has launched a stakeholder pension.

The key features of this pension include the following:

  • 0.9% annual management fee.

  • One month money-back guarantee.

  • Easy to understand literature

  • Minimum monthly contribution only £20.00

  • Flexible payments structure

  • Portability

  • Choice of investment options

Presentations can be followed up with individual meetings with a financial adviser.

For further information, call 0808 100 1884 or visit the Medical Sickness website at www.medical-sickness.co.uk

Reader response number: 063