Average dental income rises 11.3% to £72,500
The average taxable income of senior dentists was £122,000 in 2020/21, up from £99,200 in 2019/20, an increase of 23%.
The figure for Associate Dentists was £59,500 in 2020/21, up from £57,200 in 2019/20, an increase of 3.9%.
The report presents key findings in terms of average gross earnings, total expenses, and estimated taxable income by type of dental care and type of contract for dentists in the North.
He noted that while income is high, expenses are also high.
“In 2020/21, the average gross earnings of all self-employed dentists were estimated at £138,400 and average expenses – tax deductible business expenses – estimated at £65,900.
“This equates to an expense-to-earnings ratio (EER) of 47.6% (i.e. the proportion of gross profits absorbed by expenses),” he says.
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There is also a significant income range among industry professionals, as the report shows:
“Across all self-employed dentists (principals and associates), the lowest combined average taxable income (from health service and private dentistry) of £58,800 was reported for dentists whose income from health service accounted for at least 75 percent of their total gross earnings.
“Those whose income from health services was 25% or less and between 25% and 75% of their total gross income had taxable income of £86,600 and £107,700 respectively.”
The analysis reveals a persistent gender pay gap within the profession.
“As in previous years, regardless of dental type classification, male dentists had higher average gross income, total expenses and taxable income than their female counterparts. For all male self-employed GDS dentists, the average taxable income was £93,600, compared to £56,800 for all self-employed female GDS dentists,” the report notes.
Older dentists, those over 45, had the highest average gross earnings, total expenses and taxable income.
The top four expense categories for all self-employed GDS dentists in 2020/21 were Other (53.9%), Employee (25.6%), Office and General (9.2%) and (Premises 6.8% ).