Conradi Morrison & Co specialises in assisting all dentists in practice and associates and lecturers. They can advise on all financial and accounting matters such as personal tax, practice tax, formation of companies etc.

Dentists who are looking for a tax efficient investment may well want to consider EIS (Enterprise Investment Scheme) or VCT (Venture Capital Trust). Both these schemes are frequently high risk investments and advice from a qualified independent financial adviser is recommended.

Qualifying investments of up to £1 million under the Enterprise Investment Scheme and £100,000 under the Seed Investment Schemes (SEIS) attract income tax relief at 30% and 50% respectively. A carry back claim made for 2017/18 investment would reduce tax liability for 2016/17, accelerating a dentist's tax relief.

Disposals of EIS/SEIS investments are also potentially free of Capital Gains Tax. To be exempted, the shares must have been held for a period of three years from the date of issue to the date of sale. Also, if the shares are not held for three years, the income tax relief will not be retained and the tax will be repayable.

You may wish to consider Venture Capital Trusts (VCTs) which are listed companies run by a fund manager and which in turn invest in mainly smaller companies that are not quoted on the Stock Exchange. You are able to invest up to £200,000 a year (2017/2018) in VCTs which will attract income tax relief of up to 30% and again, are potentially free from CGT, providing you retain the stock for a minimum of three years.

All the investments mentioned above are only suitable for you if you understand that you might receive back less that you invest and you are comfortable with this risk. These are high risk investments and it is possible that you might lose all the money you invested.

You may prefer investing in another dental practice by buying shares in another company which owns a dental practice or by becoming a partner. In either case, if you do it correctly, you should remove the funds you have invested from your Estate in respect of Inheritance Tax when you die.

Conradi Morrison & Co would be very glad to meet you and discuss the possibility of tax planning in your business or for you personally.

Call 01322 278188 to arrange a meeting at the Dartford office or over the phone or by Skype.