www.the-probe.co.uk
business & finance
From resolutions to returns Why January is only the first new year for your finances
O
nce again, we find ourselves in January. Although, having worked in financial services for over 30 years, I’m used to marking two ‘New Year’s Days’ per year – 1st January and 6th April. While the new tax year arrives with fewer fireworks and no Jools Holland, for taxpaying dentists it can be just as significant.
For now, though, we are still working with 6th April as the start of the new tax year. Although it’s only January, preparation accounts for 90% of successful financial planning. And with changes announced as part of the 2025 Autumn Budget, dentists should be reviewing their tax position well ahead of 6th April.
Why does the tax year start on 6th April? A brief history
Key tax changes dentists should note
It would be logical for tax years to align with calendar years. Many countries do, so why not Britain? The reason for the 6th April tax year start date can be traced back to the 16th century. In 1582, Pope Gregory XIII ordered a change of calendar. This was because the Julian calendar (named after Julius Caesar), which had been in use since 42 BC, was now 10 days out of sync with the solar calendar. Great Britain resisted the change (of course!), but nearly 200 years later (in 1752) found that the difference had increased to 11 days. At this point, it changed to the new calendar. Up until that stage, the tax year had started on 25th March, which was also New Year’s Day. To ensure no loss of revenue, the Treasury decided that the following tax year would end on 4th April, as it ensured a 365-day year and balanced out the 11 “lost” days. A later adjustment came in 1800, which was a leap year under the old calendar but not under the new one. The Treasury shifted the start date again, this time to 6th April, where it remains. In 2021, the Office of Tax Simplification published a report stating that there would be “clear advantages from having a different tax year end date” – not least reducing the risk of “international tax leakage” caused by difficulties for HM Revenue & Customs (HMRC) and individuals in matching up data from other tax jurisdictions with different tax dates.
The Autumn Budget brought several changes that dentists need to consider in advance of April. Although some changes are not due for at least another year (such as the 2% increase in tax on savings and property income from April 2027), there are others to be aware of.
Dividend tax increases
A significant change starting in April 2026 is the 2% increase in basic and higher-rate dividend tax. Given that many dentists often have income streams from dividends, rental income and investments, these changes may have a substantial impact on overall earnings. This may also prompt some limited company directors to reconsider whether incorporation remains the optimal structure for their dental business.
Pensions still a highly attractive planning tool
Despite speculation, the Budget did not introduce new caps on pension allowances or withdrawals. So, pensions remain one of the most attractive and taxefficient ways to save. Pension contributions can be made individually (by sole traders and partners) or through a limited company (as employer contributions by directors). All will receive tax relief at your highest marginal rate, subject to the £60,000 Annual Allowance. Not only will you be saving for your retirement, but you’ll also be reducing the amount of income tax you currently pay.
In addition, pension funds grow free from income and capital gains tax. Tax treatment depends on your individual circumstances and may be subject to change in the future.
Rethinking dividend strategy and company profits
With dividend tax rising, dentists who are limited company directors may prefer to retain profits in the company rather than taking them as dividends. This is even more likely for those earning over £100,000 who wish to retain their personal allowance. However, retaining large cash balances exposes funds to inflation risk, which steadily erodes their real value. One solution is to consider commercial investments within the company. This approach could help maintain or grow the real value of retained profits while awaiting potential future changes to dividend taxation. Please remember that the value of your investments can go down as well as up, and you may get back less than you put in.
year or reviewing your financial strategy, speak to a Specialist Financial Adviser from Wesleyan Financial Services by visiting wesleyan.co.uk/dental or calling 0808 149 9416. Their dedicated dental expertise can help you make confident, informed decisions for the year ahead. n Charges may apply. You will not be charged until you have agreed to the services you require and the associated costs. Learn more at www.wesleyan.co.uk/charges. We s l e y a n Financial Services Ltd ( R e g i s t e re d i n E n g l a n d a n d Wa l e s N o . 1651212) is authorised and regulated by the Financial Conduct Authority. Registered O ff i c e : C o l m o re C i rc u s , B i r m i n g h a m B 4 6AR. Telephone: 0345 351 2352. Calls may be recorded to help us provide, monitor and improve our services to you.
Looking ahead: A good time for a financial review
With forthcoming restrictions to Cash ISAs (from 2027), combined with rising taxes on dividends, savings and property income, it’s an important time for dentists to: • Review their finances • Revisit business models • Assess investment strategies • Enhance long-term resilience and taxefficiency The April financial new year will be here before we know it – and preparing early can make all the difference.
Speak to the experts
As financial landscapes begin to shift throughout 2026, the right guidance can make all the difference. If you would like support in preparing for the new tax
About the author Having vast experience as a dental Specialist Financial Adviser (SFA) over the years, Simon Cosgrove is now a Dental Regional Manager at Wesleyan Financial Services, guiding a team of dental SFAs to support dentists, their families, and their practices with financial planning to secure their financial future.
How leadership drives patient loyalty
I
n dentistry, when we talk about patient loyalty, the conversation often turns to recall systems, digital marketing, or incentives. But genuine loyalty isn’t built through automation or special offers; it’s earned through the everyday interactions patients have with your team. And the quality of those interactions depends on one thing: leadership. A well-led team does more than provide treatment efficiently; they create experiences that patients remember. Whether it’s how a receptionist puts a nervous new patient at ease, the attentiveness of a nurse during a long appointment, or clear communication post-treatment, these small gestures matter and form the emotional connection between a practice and its patients. They are not random acts – they are the result of thoughtful leadership. Leadership isn’t confined to the principal dentist or practice manager. It’s a behaviour, not a job description, and each team member plays a part in how a patient feels. So, it’s important that this influence is guided by clear values-led leadership and genuine care.
56 56_Probe-January_Business.indd 1
A leader sets the rhythm of the practice, bringing consistency in communication, clear expectations, and creating a sense of calm confidence that filters through the team. In practices where leadership is strong and authentic, patients notice this steadiness and sense that the team is aligned, professional, and genuinely cares about their well-being. When a team understands its purpose and feels appreciated, that confidence naturally shines through to the patients, who can sense when a team is working in harmony. This builds trust and reassurance from the moment they walk into your dental practice. On the other hand, when a practice lacks clarity, patients pick up on that too. Confusion behind the scenes can lead to delays, inconsistent messaging, or tension that undermines confidence. Strong leadership provides structure while ensuring each team member feels empowered to contribute. It turns “doing the job” into “making a difference.” At Connect My Marketing, we often remind our clients that every contact adds
value. From how the phone is answered to how treatment plans are presented, every interaction either strengthens or weakens trust. The practices that grow sustainably are those where leadership ensures consistency without losing the human touch. Dentists naturally rely on systems and processes to keep a practice running smoothly. But systems alone don’t create loyalty. It’s the people behind them that make the real difference. Great leadership ensures that systems serve people, not the other way around. It aligns the practical and the personal, creating a culture where team members take ownership because they understand the “why” behind the “what.” When structure and empathy work together, you get more than compliance, you get commitment. And that commitment is what patients notice as calm, confident, and genuine care. If you’re a practice owner or manager, take time to reflect not just on your marketing strategy, but on your leadership habits.
• Do my team members know what ‘great’ looks like each day?
• Do they feel recognised and supported? • Do they understand how their actions
help build patient trust? These may seem like internal questions, but the answers show up externally, in patient reviews, referrals, and long-term loyalty. The most successful dental practices aren’t just clinically excellent; they are emotionally consistent. Patients may not remember every detail of their treatment, but they will always remember how your team made them feel. Because beyond the chair, leadership is the quiet force that builds lasting loyalty. n
About the author Susan Ward is the Business Operations Manager at Connect My Marketing, a dental marketing agency that helps practices grow through leadership, systems, and service excellence.
The Probe | January 26
12/01/2026 15:08:02