Lynx IDG is encouraging practices to be proactive not reactive and invest in their businesses so that they emerge stronger and healthier come an upturn in the economy.
The company, which works in partnership with Performance Finance, recommended leasing as the most tax effective route to fund large capital investments, from a practice refit to upgrading fittings with new displays. As an example of the benefits to be had, Lynx highlighted South Kensington's Abbots Opticians (right) , where staff morale increased dramatically on completion of a refit and it now sees an extra 10-20 patients per week.
Lynx added that a £30,00 refit could benefit from tax relief of up to 40 per cent, so that the real cost to business would be £18,000, and with the correct funding the £12,000 tax relief could be achieved fully in year one. 'A lease therefore can be structured to allow you to spread the cost but accelerate all the tax relief. You will even achieve maximum tax relief on your interest.' The total amount payable after allowances and interest repayments would be £23,220, and for a £10,000 facelift - £7,740.
'No deposit is required and you can start realising the benefits of your refit now rather than later.'
Lynx added that it could create and develop a bespoke environment within a comfortable spend level, while Performance Finance could offer a financial solution with an affordable monthly payment.
Visit www.lynxidg.com or www.performancefinance.co.uk
