Care Home Owners Can Get Back Thousands Of Pounds Tax-Free From HMRC Due To Mistakes That They Made
Tax consultant Howard Givney says that there are thousands of pounds available to owners and operators of care or nursing homes between 1993 and 2002. This is due to a mistake that HMRC made when introducing Vat in 1993. For the next 9 years they denied owners and operators of care and nursing home to reclaim vat on purchases costing business thousands of pounds.
In 2002 Kingscrest Associates Ltd and Montecelo Ltd challenged the HMRC and eventually the case wound up in the high court where the Judges found against HMRC.
The upshot is that for anyone who either owned or operated a residential home during that period you can expect a tax repayment of about £3,000 for each bed after fees and costs, some claims are more than this.
For a residential care home with 20 beds this means £60,000 extra profit. Larger homes and groups with say 250 beds can expect up to £750,000.
Even if you sold the residential care home, you might still be able to claim so a cheque for something that you have already been paid for might be very welcome.
Of course some homes were held by a limited company and sold as part of asset transfer and for those deals the new owner has unknowingly bought a tax claim as well. Imagine buying a residential home for £300,000 and being given a cheque a few weeks later for the purchase price- tax-free!
Tax ideas can help you to become richer, and if it can’t, we won’t charge you. In an age where everyone seems to be after your money before they do something Howard says he has a different offer. He will put the money in your bank account before he gives you his bill. It really is a no-risk offer.
This scheme puts right the mistakes that the courts said HMRC made when they introduced VAT and gives you a useful amount of money tax free.
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