The National Care Forum (NCF) has announced it is partnering with care sector VAT specialist, Kieran Lynch & Co.
The not for profit care providers’ body said the move would give its members access to vital VAT expertise during these unprecedented times.
NCF Executive Director, Vic Rayner, (pictured) said: “The financial pressures on our members during this COVID-19 pandemic have been like never before.
“It is vital that care providers ensure every available resource is dedicated towards the front line. With that in mind; our partnership with Kieran Lynch will ensure all members are aware of some of the recent legislative changes which change the way in which VAT is applied to care, and where possible they can free up essential funds to further the provision of great care.”
Kieran Lynch & Co are a specialist VAT firm focused on the healthcare sector, and have been working
in the not for profit sector for over 10 years. They have extensive knowledge of the VAT regime and to date, they have returned over £40 million in benefits back to care providers.
Jock Waugh, Director – Kieran Lynch & Co said: “This sector has shouldered a huge responsibility in the battle with this recent crisis and that has come at a significant cost. We are able to support that effort by working to add savings on care services by restructuring the VATable status of supplies which provides not only cashflow benefits but also impacts on valuations and funding opportunities. We’re delighted to move our long standing relationship forward with the NCF and bring these benefits to members across the sector.”
The government announced it was removing VAT from PPE in May following a warning that care providers were facing financial collapse due to rising costs, including inflated PPE prices, and higher staffing expenses as workers self-isolate, as well as government emergency funding failing to reach the frontline.
Meanwhile, Care Leaders Network founder, Simon Parker, led a campaign calling on the government to change legislation to allow care home owners to reclaim VAT this month.