Physiotherapist: SEL vs BNC tax choice in 2026

Quick answer. A physiotherapist can practice as BNC (non-commercial income, individual name, either micro-BNC up to 83,600 EUR or full accrual accounting) or as SEL (SELARL or SELAS corporate form subject to corporate income tax). The choice depends on profit level, need for social protection via CARPIMKO, group practice structure, and succession planning. Social contributions (CARPIMKO TNS) apply in both cases, but income tax and distribution mechanics differ radically.

Physiotherapy is one of France's most widespread paramedical professions. Following the micro-BNC threshold increase to 83,600 EUR (2026–2028) and the hardening of dividend taxation (flat tax PFU now 31.4% under the 2026 Social Security Act), the choice between BNC and SEL now rests on precise calculation. No universal rule: everything depends on your growth trajectory, collaboration plans, and wealth strategy.

Recently, a physiotherapist in multi-activity (liberal practice + locum coverage) asked us to validate a group practice SELARL structure. His typical mistake: assuming SELARL would offer better tax shelter without measuring impact on CARPIMKO contributions and distributable income. Detailed analysis showed that remaining BNC until 100k EUR netted him 8,000 EUR yearly in taxes and contributions. This is exactly what we verify before any structural shift.

BNC (Non-Commercial Income / Bénéfices Non Commerciaux) is the natural tax regime for regulated liberal professions (physicians, attorneys, dentists, physiotherapists, accountants). Each physiotherapist practices under their own name, serving their own patient base, without a corporate wrapper.

BNC tax treatment#

Taxable income is calculated under two regimes:

Micro-BNC 2026: if your prior-year revenue did not exceed 83,600 EUR, you remain on the micro regime even if you exceed the threshold in the current year. One overage does not immediately disqualify you. Beyond that threshold, you shift mandatorily to full accrual (tax return 2035 with schedules 2035-A/B).

CARPIMKO registration and TNS contributions#

As soon as you are a physiotherapist under BNC (self-employed), you are mandatorily a TNS (self-employed worker) registered with CARPIMKO (Autonomous Retirement and Welfare Fund for Nurses, Midwives, Physiotherapists, Podiatrists, Speech-Language Pathologists, and Orthoptists).

CARPIMKO contributions break down into:

• Base pension: 8.73% up to 48,060 EUR (1 PASS), then 1.87% up to 240,300 EUR (5 PASS);
• Supplementary pension: proportional contribution (2026 reform), based between 0.5 and 3 PASS;
• Disability-survivor: flat contribution (1,022 EUR in 2026);
• ASV (old-age supplement): flat amount (671 EUR) plus a proportional share.

CSG/CRDS and the URSSAF health contribution are added separately. In total, a self-employed physiotherapist's social charge runs roughly 35–45% of income depending on level, CSG/CRDS included.

Core BNC characteristics#

• Unlimited liability: professional and personal assets are commingled; creditors can seize personal property.
• No VAT segmentation: therapeutic acts (prescribed physiotherapy) are VAT-exempt (CGI Article 261, 4-1°). Non-therapeutic acts (wellness, esthetic) are taxable at 20%.
• Difficult succession: patient roster is personal; difficult to sell a practice as a going concern.
• Income tax (IR): profit is taxed under personal income tax, at your marginal rate (up to 45%).

A SEL (Corporate Practice Form for Liberal Professions) is a corporate wrapper reserved for regulated liberal professions. For physiotherapists, two forms exist:

SELARL: Limited-Liability Corporate Practice#

SELARL is the most common form (closed or open variant).

SELAS: Limited-Liability Corporate Practice (Share Form)#

SELAS is less common but may suit a more streamlined structure:

Key difference: in SELAS, the president is an employee equivalent (general regime), not TNS CARPIMKO. This is a retirement disadvantage for a physiotherapist, since CARPIMKO offers superior pension accrual.

Key takeaways#

Under BNC:

• Up to 83,600 EUR, you enjoy simplified bookkeeping and a flat 34% deduction.
• Beyond, mandatory switch to accrual: documented expenses, more administration.
• Income tax: your profit is added to other income (rental, dividends, etc.) and subject to progressive tax (up to 45%).

Under SELARL/SELAS:

• Corporate profit is taxed at corporate rate (15% ≤ 42,500 EUR, then 25%), independent of your personal situation.
• You then compensate the manager/president via salary (TNS or general-regime contributions) or dividends (flat tax or contributions).
• Retained earnings stay in the corporate entity → advantage for growth and succession planning.

There is no single answer: the trade-off depends on profit, the income you actually need to draw, and partnership plans. The orders of magnitude below are indicative and should be refined with your accountant. Key reminder: in a SELARL, the majority manager remains self-employed (TNS) — paying CARPIMKO contributions on his management remuneration — and is not an employee; only a SELAS president falls under the general (employee) regime.

Under 30,000 EUR profit#

Verdict: BNC micro-BNC. The 34% flat deduction is enough, CARPIMKO contributions stay modest, and no structural complexity is warranted. Forming a SELARL at this level adds cost (bylaws, accounting, governance) with no tax upside.

30,000 to 83,600 EUR (micro-BNC zone)#

Verdict: BNC micro-BNC. As long as revenue stays under 83,600 EUR, the 34% deduction and cash-basis bookkeeping give the best simplicity-to-cost ratio. You remain TNS, registered with CARPIMKO, and your profit is taxed at progressive income-tax rates.

83,600 to 150,000 EUR (switch to accrual)#

Above the threshold, the flat deduction disappears: you move to full filing (Form 2035) and deduct actual expenses (rent, equipment, admin, depreciation). Two paths coexist:

1. BNC accrual: profit taxed at income-tax rates (up to 41%, even 45%) and bearing CARPIMKO TNS contributions. Simple, but tax climbs with your marginal bracket.
2. SELARL under corporate tax: management remuneration is deductible from profit and bears TNS contributions; retained profit is taxed at corporate rate (15% up to 42,500 EUR, then 25%). It becomes attractive when you can leave part of the profit in reserves rather than draw it all in the same year.

Indicative example: on 110,000 EUR revenue and 30,000 EUR expenses, the 80,000 EUR profit under BNC accrual is taxed at your marginal income-tax rate. In a SELARL, you might pay yourself 55,000 EUR of remuneration (deductible, TNS contributions), with the balance taxed at 15% corporate tax up to 42,500 EUR — the comparison then hinges on how much you actually need to consume.

150,000 EUR and above (group practice)#

Verdict: the SELARL comes into its own. You smooth remuneration and dividends, build reserves taxed at corporate rates (15%/25%) rather than income tax at 45%, and share fixed costs among partners. On a 250,000 EUR profit before remuneration, paying 100,000 EUR of management remuneration (deductible, TNS contributions) leaves a profit taxed at corporate rate, part of which can fund growth or prepare succession. At this level, the tax saving outweighs the added administrative cost.

Therapeutic acts: VAT-exempt#

Acts prescribed by a physician (therapeutic physiotherapy) and massages as defined in Article R. 4321-3 of the Health Code are VAT-exempt (CGI Article 261, 4-1°).

Non-therapeutic acts: 20% VAT#

Wellness acts (relaxation massage, esthetic, sports coaching) are taxable at 20% (standard rate). Critical to segregate invoice lines to preserve the exemption.

VAT threshold and non-therapeutic acts#

Key point: your prescribed care acts are VAT-exempt regardless of turnover — the registration threshold does not apply to them. The VAT threshold (37,500 EUR of service revenue in 2026) only governs any taxable acts you provide (wellness, esthetic, coaching): below it, no VAT to charge or recover; above it, you become liable for VAT on those taxable services only.

In SELARL, the entity is liable; in BNC, you are personally liable.

SELARL manager and CARPIMKO contributions#

A SELARL manager holding > 50% capital remains TNS under CARPIMKO (same contributions as BNC). If manager holds < 50%, status becomes complex (may be employee-equivalent).

Dividends and TNS social contributions (2025–2026 rule)#

Since the 2024 Social Security Act (confirmed by French Supreme Court 19/10/2023), the portion of dividends exceeding 10% of (capital + premiums + average CCA) is subject to TNS social contributions (CARPIMKO), on top of the 31.4% flat tax.

Below 10%: flat tax alone 31.4% (12.8% income tax + 18.6% social levies).

Example: SELARL with 10k EUR capital, 50k EUR average CCA → 10% threshold = 6k EUR. Dividends 20k EUR:

• 6k EUR under flat tax 31.4%
• 14k EUR under TNS contributions (~27%) + income tax (~41%)

This is a common trap: many cabinet owners think distributing dividends saves contributions. It doesn't beyond the 10% threshold.

Locum physiotherapist in SELARL#

A locum may join a SELARL to cost-share (office rent). They bill their own acts (BNC) and remit a share to the SELARL. A SCI or SCM (Joint Resource Company) works better for this model than a full SELARL.

Group practice in SCM#

A SCM (Joint Resource Company) allows several physiotherapists to practice individually under BNC while sharing fixed costs (office, equipment, staff). Each bills their own fees in their own name; the SCM cost-shares common expenses at pro-rata. No additional SCM-level tax (tax-transparent structure).

Mistake 1 — Not comparing net tax burden#

Comparing gross corporate tax vs gross income tax without accounting for contributions, distributions, and social levies. True comparison must be: (tax + contributions + accounting costs) under BNC vs under SELARL.

Mistake 2 — Forgetting the micro threshold is 83,600 EUR revenue#

Many still think it's 77,700 EUR (the 2023-2025 ceiling). The current ceiling is 83,600 EUR, raised for 2026–2028.

Mistake 3 — Ignoring dividends above 10%#

Distributing 50k EUR in dividends thinking you pay only flat tax, without verifying the 10% threshold, triggers unexpected TNS contributions.

Mistake 4 — Failing to segregate VAT-exempt / taxable#

Invoicing "physiotherapy" as one line without isolating wellness or coaching → risk of tax audit adjustment.

Mistake 5 — Overlooking deductible expenses in BNC accrual#

Beyond 83,600 EUR, switching to accrual unlocks real deductions: rent, equipment, staff wages, utilities. Many continue mentally applying the flat deduction.

Physiotherapist tax strategy becomes complex as your practice grows. Until 80–100k EUR profit, staying BNC offers clarity and flexibility that few recognize. The 83,600 EUR threshold is real relief: it gives breathing room to growing practices.

At Hayot Expertise, we have guided about 15 physiotherapy cabinets. The winning pattern: BNC accrual accounting up to 120–130k EUR, then gradually transition to a SELARL with 2–3 managing partners once the practice hits 150k EUR+ and collaborative structure becomes necessary.

A memorable case: a physiotherapist at 95,000 EUR profit wanted to form a SELARL to "save 20,000 EUR in taxes." The detailed math showed a far smaller net gain once we factored in TNS contributions on the management remuneration, corporate tax on the retained profit, and the yearly overhead of running a company (bylaws, accounting, governance — around 4,000 EUR). Verdict: at that income level, the real saving did not yet justify the switch.

Hayot Expertise advice. Before switching structure, run a real three-year tax projection accounting for employer payroll, distributions, retained earnings, and accounting costs. The true comparison is: (tax + contributions + accounting costs) under BNC vs (tax + contributions + accounting costs) under SELARL. We offer this diagnostic free: it's 2 hours of work preventing 10,000 EUR/year mistakes over 5 years. And if you are eyeing partnership with a colleague, plan for SELARL now, before structuring, to avoid costly restructuring later.