Leading mid-tier Accountants

Baker Tilly is a leading mid-tier firm of accountants and business advisers in the UK and has a team of specialist dedicated to serving the needs of the Residential and Care Homes Sector including the following:

VAT reclaims 

Baker Tilly has established a national reputation as the lead advisor for care homes making "Kingscrest" claims for VAT refunds.

To qualify for VAT refunds, your home should be -
• Mainly care (although some nursing provision is acceptable)
• Mainly funded by Local Authorities (although some private residents are acceptable)
• In business prior to 21st March 2002
• Does not apply to charitable and other not-for-profit organisations
For example,
• a 40 bed care home, where one third of the residents were funded by the Local Authority (and two thirds were private) that had been in business since 1989 was able to reclaim £52,000. 
• a similarly sized home that had been in business since 1991 but had 80% Local Authority funded residents (and 20% private) was able to reclaim £150,000 as they had incurred much higher expenditure in building an extension, on which we were able to recover the VAT for them on the building costs.
Baker Tilly are able to handle the entire claim process on your behalf, provided that you can supply us with -
• Copies of your annual accounts covering your trading prior to 2002
• Details of residents in occupation prior to 2002 for as many years as you have information for.
• Copies of any remittances, invoices or contracts with Local Authorities prior to 2002.

Contact Andy Gott    
Tel: 0151 600 2600 
Email andy.gott@bakertilly.co.uk

Contact Paul Bendel 
Tel: 0151 600 2600  
Email paul.bendel@bakertilly.co.uk

Capital Allowances

Many property owners are not taking full advantage of the valuable tax reliefs available to them in the form of capital allowances claims.

For construction projects such as new-builds, extensions and refurbishments, claims are generally made for obvious items such as boilers and lifts as their cost is readily identifiable from suppliers’ invoices. However, claims are commonly missed for fixtures integral to the building as the costs are less apparent and without specialist assistance, it can be a costly and time-consuming exercise to identify those fixtures and their associated costs.

If you have incurred capital expenditure on a care home and still retain an interest in that property, then you may have an entitlement to a claim. This includes expenditure on the purchase and/or refurbishment of an existing care home, as well as expenditure on a new-build or extension.

In the light of recent changes to capital allowances, it is vital for property owners to take professional advice to review the tax treatment of historic expenditure and to formulate any potential claims for tax relief as soon as possible.

Baker Tilly will not charge a fee unless we generate a capital allowance claim. In many
cases, claims can be back-dated to generate an immediate tax refund.

For care homes, the typical percentage of the total purchase price of a building that can be attributed to fixed plant is between 20 and 30%

Case Study   A client purchased a care home for £1,850,000 that generated £463,576 of capital allowances. This will save them between £100,000 and £130,000 of corporation tax dependent on future tax rates incurred by the company.

Contact Andrew Lloyd 
Tel 0151 600 2600    
Email andrew.lloyd@bakertilly.co.uk

Tax Investigations 

HM Revenue and Customs collected £5.7 billion in additional tax, interest and penalties from tackling non-compliance during the year to 31st March 2006. Recent changes surrounding the imposition of penalties and widening the scope of HMRC offices power to investigate businesses show that the department is continuing to seriously tackle non-compliance and looking to increase the yield from enquiry case in all areas of taxation yet further.

Tax enquiries and investigations are here to stay. Their effects upon a business or individual can be disastrous.  To help avoid this, our tax investigations specialists can provide information and advice on a wide range of issues to ensure clients receive a fair hearing from the tax authorities and obtain the best possible outcome to any tax investigation. Should you have any concerns in this area, please contact a member of the Baker Tilly Tax Investigations team for an initial, no charge, no obligation, confidential discussion.

Contact Mark Beadles
Tel 0151 600 2600 
Email mark.beadles@bakertilly.co.uk

Contact Gary Cryer 
Tel 0161 834 5777    
Email gary.cryer@bakertilly.co.uk

Audit and Accounts 

An audit is much more than a formality; it's a real necessity to protect a business and encourage it to thrive. Early warnings, open communication and pragmatic resolution of issues are all essential features of our approach.]

We maintain excellent relationships with our clients by taking the time to truly understand their business and provide a quality led, risk focused service.
 
At Baker Tilly, this quality-led approach requires us to provide an intelligent, constructive and challenging audit to every one of our clients. We consistently adhere to the highest standards, demonstrating technical excellence and the highest audit quality.

Business services

At Baker Tilly we provide a spectrum of services to help you on the routines and responsibilities of running your company, managing the business and its money including;

 Management accounting
 Payroll
 Preparation of accounts
 
We can take-on and manage these aspects of the business – and more – for you, allowing you time to do what you do best.
 
We pride ourselves on providing reliable and responsible business-support services and nothing pleases us more than seeing our clients' businesses succeed.
 
Whatever size and complexity of your business our specialists are hear to help.

Contact Rob Aitken 
Tel 0151 600 2600
Email rob.aitken@bakertilly.co.uk

Visit the Baker Tilly website