The government has introduced a new super deduction scheme over the next two years for the dental industry. When incorporated dental practices invest in their businesses, they can reduce their taxable income by 130% of the cost of the investment.
This is a great incentive for Dentists thinking about ordering equipment – 130% of cost tax will be deductible!
We are currently arranging Hire Purchase Agreements for client with rates as low as 2.9% fixed for the duration of the term and with the added new super deduction and the existing tax reliefs, there’s never been a better time than right now. Interest rates may start to rise again over the next few years, but we can fix now for up to 7 years at 2.9% on balance over £25k.
As an example a Hire Purchase loan of £50k:
GOV.UK has published an article on the Super Reduction, which can be found by here.
Plus, you would also receive the new super deduction of 130% if you trade as a Limited Company. If you’re interested in investing in your dental surgery now, give us a call on 01763 849990 or Contact Us!