Abrahams Dresden is on the panel of solicitors recommended by the British Dental Association as having meaningful experience in dental matters. We have work referred to us on a regular basis by specialist lenders in the dental field, practice brokers and, of course, by existing clients. Abrahams Dresden is proud to be a member of NASDAL. The AD Dental Team comprises Russell, Paul, Philip, Liam, Stuart, Joanne, Josh and Leigh.
Acquisitions and Disposals
It is a widely held perception that lawyers should be, and generally only are, instructed once a sale has been agreed. From experience, we know that dentists have very little spare time. It is therefore sensible to plan the paperwork necessary for the sale as soon as you decide to sell.
Selling your business is an emotive decision. You will have formed long professional and personal friendships with patients, colleagues and staff. We appreciate that it is often not an easy decision to make.
We are equally comfortable acting for the Vendor or the Purchaser, whether the practice is freehold, leasehold, NHS or private.
Despite the enormous demand for virtually every type of practice, transactions appear to be taking longer and longer to complete. We take a clear overview of every transaction and do everything we can to ensure that the deal proceeds as smoothly and as speedily as circumstances permit.
Professional working arrangements between practitioners can operate on several levels, all with different legal foundations. It is often not until relationships break down that dentists consider their legal position, and then it can be too late to avoid lengthy and expensive disputes. It is therefore prudent carefully to determine your legal position from the start.
Expense Sharing Agreements are of crucial importance to Expense Sharers and cover a broad range of partnership style activities, ranging from a shared reception area and magazines all the way through to a full expense sharing partnership.
A Facilities Agreement is a relatively modern collaborative structure, under which expenses can be shared across several heads.
Of course there is the Partnership Agreement, under the terms of which the Partners share profits, rather than expenses.
Then there is the hybrid structure of the expense sharing arrangement between limited companies each of which is wholly owned by one of the expense sharers. Brave new world!
The AD Dental Team has acquired broad experience in the various partnership structures and the problems encountered by Practitioners who have realised too late that the underlying Agreement is either out of date or defective in some way.
Advice on buying and selling a dental practice
The impact on the dental profession of dental corporates has been huge. We advise on the legislation relevant to the acquisition or sale of a dental corporate and have developed a highly innovative and tax advantageous plan for the incorporation of sole traders and partnerships, in the light of the current NHS England Contract.
In the light of the Autumn Budget Statement 2014, incorporation of a sole trader will no longer confer material tax advantages. However, incorporation remains a legitimate business model, which has, since 2007, enabled non-dentists to own dental practices.
Associates, DSAs, hygienists, receptionists and other staff should all have carefully drafted contracts from the outset. We have broad experience in this area of the law and can provide advice to keep you compliant with recent legislation.
It is particularly important that Associates are retained on properly drafted contracts, as they will generate goodwill, which must be protected. Practice owners will always try to get restrictive covenants drawn in the widest possible terms. It takes a firm hand to persuade practice owners that covenants that are too broad are not enforceable.
There has been a proliferation of legislation in employment law over the last few years. It is often hard for lawyers, let alone dentists, to keep up with the pace of change. Dentists should not discount the importance and relevance of employment law. Failure to comply can prove extremely costly.
We can provide a comprehensive overhaul of your employment papers and your self-employed agreements and procedures, so as to ensure that your systems are appropriate and up to date.
We often find that we are competing with fixed cost "one size fits all" employment services. We have yet to find a single client who was pleased to have signed up for a three year fixed term employment advice service at £5,000 per year!