– Dental

We have considerable experience in advising dentists on the sale or purchase of dental practices.

We are aware that these transactions can take a disproportionately long time to complete and seek to ensure that our clients are aware of the matters which may stand in the way of a successful and early completion.  The issues we have encountered include:

  • failure of buyers to obtain funding promptly after making an offer to buy or to put themselves in position to satisfy any conditions which their lenders require to be completed before they will make money available to fund the purchase
  • failure to obtain consent of landlords for an assignment (i.e. a transfer) of a lease or to obtain consent from their landlords to charging of the lease to secure monies lent by the buyer’s lender
  • use of unnecessarily complicated documentation by solicitors to record the terms of the transaction
  • failure of sellers to provide promptly an indication of the likely net assets of the business or company to be sold, with the result that the buyer does not know how much money he needs to pay

Issues which should be considered from the outset are:

  • whether the sale is of assets or shares.
  • whether any associates should properly be treated as employees for tax or employment law purposes
  • whether the seller has any competing business interests
  • whether the seller will work for the business after completion and on what terms
  • how the seller pays himself or herself
  • whether NHS England is proposing to change the number of UDAs in the GDC Contract or make clawback

We strive to ensure that the process is a smooth one, both for buyers, sellers and selling agents.  We believe in maintaining good communication to ensure a hassle free process..