Consider the taxation and other benefits of the Smile Together model
Your retirement, your legacy
Exiting your dental practice and getting a pay-out for your hard work has always been about two very different models. You either sell to an incoming Principal, or sell out to a dental corporate. Both are usually subject to Capital Gains Tax (CGT) rules on selling businesses and are undertaken in a confidential way, leaving the practice team unaware of the changes until completion. This can leave the practice owner feeling that they have not necessarily secured the best future for the practice they worked so hard to build and for the team that worked with them to build it. They have not secured the legacy of their practice.
Smile Together have devised a new way to exit dentistry which looks after your team and local community and is the most tax efficient exit available to you with 0% CGT.
A carefully planned exit, handing over the reins to your team, is achieved through selling your practice to an Employee Ownership Trust (EOT). This is a growing route for business owners looking for tax-efficient succession planning and does not require individuals within the team to make personal investments. We will work with you and your team to sensitively manage your exit from the practice. Together with our specialist advisors in employee ownership we’ll show you how it’s been successfully achieved already in dentistry – not just at Smile Together, but elsewhere too – as a transparent, rather than secretive exercise, with everyone involved.
We will provide bespoke support to the new management team to ensure the practice remains profitable – from leadership and training to finance and marketing – governed by a Family Membership Agreement covering our brand, our support and commitment to tackling oral health inequality and protecting the environment.
Together we will continue the legacy of the practice which rewards you, the practice team as employee-owners and your local community.
Benefits to you:
A fully supported and managed exit leaving a clear legacy and a happy team
Deal coordinated by an established, experienced employee-owned dental business
Sold at full market value and the tax saving alone can mean higher net proceeds
Benefits to your team:
Engagement in a phased and transparent succession with an ongoing stake in the business
Full training and mentoring on being an employee-owned mission-led dental practice
Back-up from the award-winning Smile Together team to enable your team to concentrate on what they do best
Benefits to your community:
Greater access to dental treatment and services as the practice grows
Practice is more involved with the local community
Continuity with the team and practice they know
Benefits to us:
• A bigger family generating significant impact and reputation
• Growth in our mission and vision for healthier happier communities
• An even greater positive impact on our business, our patients, our communities and ultimately our planet