Align Technology comments on 2021 Budget’s impact on dentistry
NewsPosted by: Dental Design 6th May 2021
Align Technology has commented on The Chancellor of the Exchequer’s 2021 budget announcement of a new tax deduction designed to stimulate investment by UK companies. Between 1 April 2021 and 31 March 2023, dentists who run their practices as companies and pay corporation tax will be able to claim a corporation tax deduction at 130% of qualifying expenditure on new assets.
Eligible dental practices will be able to claim a deduction from their tax bill if they invest in new equipment, plant and machinery for their business. Under the super-deduction, they will be allowed a capital allowance of 130% on qualifying investments. The main exclusion from this scheme is partnerships, sole traders and other businesses not paying corporation tax.
The super-deduction scheme is aimed at stimulating the purchase of new equipment, plant and machinery. Anything ranging from IT equipment, to new solar panels should be covered. So this should mean that the iTero digital scanner is eligible.
The business of digital
If this wasn’t incentive enough to invest in new capital equipment for the dental practice, Align Technology has released data which demonstrates that an iTero Element digital scanner is associated an increase in practice growth. The statistically significant results of a study show that general dentists with a previously low Invisalign case volume (of five or fewer Invisalign case starts) increased revenue by £120,372 in Invisalign cases in three years. In the first year they reported an additional 7 cases, by year two there was an average increase
to 16 cases and by year three it was more than 28 cases as a result of using an iTero digital scanner.1
Additional data shows that 1.5 times more Invisalign treatment patient starts were reported as a result of using the Invisalign Outcome Simulator on the scanner 2 by giving the dental patient and the practitioner the ability to visualise Invisalign treatment outcomes together.
The scheme runs until 31st March 2023. For more information about investing in an iTero digital scanner please visit www.iTero.com.
