The National Care Forum (NCF) has entered into a partnership with care sector VAT specialist, Kieran Lynch & Co.
The partnership aims to provide NCF members with support to understand the complexities of VAT, and ensure that they are aware of how recent legislative changes impact on their services.
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 is a specialist VAT firm focused on the healthcare sector, and has been working in the not-for-profit sector for over 10 years.
It has extensive knowledge of the VAT regime and, to date, has returned over £40 million in benefits back to care providers.
Kieran Lynch & Co director Jock Waugh 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.”
Meanwhile, six home care providers have led a campaign calling on the government to change legislation to allow providers to become ZERO-rated for VAT.