This week sees the release of the latest NASDAL (National Association of Specialist Dental Accountants and Lawyers) statistics from their quarterly Goodwill Survey. The survey covers the quarter ending 30th April 2026 and includes data on valuations as well as deals completed (i.e., practices bought or sold by NASDAL members’ clients in the period).
The quarter saw overall goodwill values almost identical to the previous quarter in terms of deals done. Overall, goodwill values were at 109% as a percentage of gross fees – compared with 107% in the quarter ending 31st January 2026.
NHS goodwill values did see quite an increase – up to 135% from 118% as a percentage of gross fees in the previous quarter. Private practices were steady; 95% as a percentage of gross fees compared to 96%. Mixed practice goodwill values also continued in the same vein – at 113% of gross fees compared with 115% in the previous quarter.
“Greater scrutiny of the numbers”
Mike Blenkharn, Partner and Head of Dental at UNW LLP who compiled the goodwill survey on behalf of NASDAL said, “there is a lot going in the latest goodwill survey figures. The first point to make is that prospective owners are more aware than they’ve ever been of due diligence and knowing their numbers. An increase in practice costs generally has meant greater scrutiny of these numbers. Good practices will always sell but there do seem to be some that have come to market that aren’t making the money they should. London and the South East lead the way in high values and if we are looking at NHS practices – which banks still favour – a high UDA rate does no harm.
“The quarter in question saw the end of business asset disposal relief which went at the end of April 2026. This did mean that some buyers were ‘chipping away’ at values and some sellers were open to negotiation to get the deal over the line.”
The goodwill figures are collated from accountant and lawyer members of NASDAL in order to give a useful guide to the practice sales market. These figures relate to the quarter ending 30th April 2026.
NASDAL reminds all that as with any averages, these statistics should be treated as a guideline only.
