Autumn Statement 2016: Care home operators in line for tax breakComments Off on Autumn Statement 2016: Care home operators in line for tax break
Britain’s care-home operators could benefit from a tax relief originally aimed at social enterprises, under new measures unveiled by the Chancellor.
Previously Social Investment Tax Relief (SITR) was only available for organisations with clear community benefits, such as charities and non-profits.
Now, Philip Hammond has said nursing homes and residential care homes – initially excluded from the scheme – can now apply for accreditation which could lead to qualification for SITR. A cap on the companies’ size has been reduced from 500 to 250.
Care home operators have been in the crosshairs over perceived profiteering in recent years.
PwC’s Aidan Sutton said: “The government’s accreditation system needs to be vigorous to make sure the nursing and care homes are community operations.”