Incorporation of a dental practice
With the increase in personal taxes via the Universal Social Charge and PRSI, a number of medical practitioners have contemplated the benefits of incorporation for tax planning purposes.
A difficulty with dental services is the prohibition on the practice of dentistry by companies. This is under review with a recent Department of Health consultative process finding that 43% of respondents supported an amendment to this legislative prohibition.
The ‘practice of dentistry’ means the performance of any operation and the giving of any treatment, advice, opinion or attendance which is usually performed or given by a dentist. It includes the performance of any operation or the giving of any treatment, advice or attendance on or to any person preparatory to, for the purpose of, or in connection with, the fitting, insertion, or fixing of artificial teeth.
It is possible to achieve savings by incorporating non-dentistry elements within a practice.
Download our briefing note for more information.