Care home providers in the UK could start benefiting from a tax relief originally aimed at social enterprises, under changes revealed by Chancellor Philip Hammond.
Originally, Social Investment Tax Relief (SITR) was only available for organisations which clear community benefits, for example, charities and non-profit organisations.
Philip Hammond has said that nursing homes and residential homes, which were initially excluded from the scheme, are now able to apply for accreditation which could lead to qualifying for SITR.
The companies’ size has been capped at 250, reduced from 500.
PwC’s Aidan Sutton was reported by the Evening Standard as saying: “The government’s accreditation system needs to be vigorous to make sure the nursing and care homes are community operations.”