Warning for dentists with investments

The British Dental Association (BDA) has suggested changes to the tax system could disadvantage dentists who have made investments in their practice buildings over the years.

Commenting on chancellor Alistair Darling's pre-Budget report, the organisation indicated that general dental practitioners may be affected financially by the abolishment of taper relief on capital gains tax.

Announcements made in the report "could ... act as a powerful disincentive to a new generation of potential practice owners", said Dr Susie Sanderson, a member of a dental practice board.

"This is a destabilising move at a time when we need more certainty in the system, not less," Dr Sanderson, who is chair of the BDA's executive board, added.

These BDA concerns have been expressed in a letter to Mr Darling, which was written in conjunction with the British Medical Association.

October's pre-Budget report also drew attention to forthcoming new legislation which will ensure tax-relieved pension savings diverted into inheritance funds using scheme pensions and lifetime annuities are subject to inheritance tax.

Dental professionals may wish to seek advice from Wesleyan Medical Sickness.

Source: BMA

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