Posts in Commercial Partners
New Commercial Partner Select Agencies SW.

Select Agencies South West are proud to be a category award sponsor for the Care and Support West 2018 Awards

Started some 12 years ago to act as a Uk manufacturers agent, specialising in beds, mattresses. upholstery and cabinet, we have grown from just covering the South West and South Wales to national coverage. We can now source almost any type of furniture and related products. We regularly tender with the NHS as an approved supplier, we supply Care Homes, Sheltered Housing and Housing Associations. We also have a unique Stainguard and Sanitised Range and service that is compliant with Biocidal Product Regulations legislation, and the Crib5 / fireguard regulations.

We have been working with a leading Mattress manufacturer to develop a ground-breaking mattress for the care industry, please get in touch with one of the contacts below for more information.

The reason we were pleased to be commercial partner member of Care and Support West is that we hope, via this process, to engage with front line providers of care and their service users. The benefit we bring to the service provider is being able to supply top quality products direct from the manufacture at seriously reduced prices. The benefit for us lies in the fact we can get first-hand information from providers of care to improve our products and better target the services we offer.

Please feel free to contact me with any enquirers, I look forward to hearing from you; email me on simon.rexworthy@btinternet.com

Nurseline: At the Forefront of Collaborative Working

Trust. Respect. Collaboration.

Collaborative working in health and social care delivers many benefits and opportunities both to the individual being supported and those who make up their network of support. By working in partnership with professionals, organisations and family members, social and healthcare providers are able to tailor approaches and services to meet the individual’s care and support needs – helping each person achieve their goals and aspirations.

As Trevor Mapondera, CEO, Nurseline Healthcare, comments: “Social care is at the forefront of employing innovative collaborative working practices which have a real benefit not only to the service users being supported and their loved ones, but also for everyone involved in the individual’s network of support.”

Research into the benefits of collaborative working has been undertaken by many respected institutions including Oxford University. The findings of one piece of research into collaborative working in healthcare, clearly demonstrates that patient outcomes, quality of care and the cost of care delivery are all optimised when an approach based on trust, respect and collaboration, focused on the care and support needs of the patient or person being supported, is employed.

Key benefits of collaborative working include:

  • sharing of knowledge, best practice, responsibility for planning, risk assessments and decision making
  • development of innovative approaches
  • reducing inefficiencies through integrated services and shared costs 
  • Quality Assurance

Trevor continues: “At Nurseline, we ensure that we provide real ROI whilst consistently delivering high quality care and support. Everyone in The Nurseline Family – the people who work for us, with us, and who are supported by us – are able to benefit from the collaborative approaches we employ and the partnerships we have developed.”

This Autumn, Trevor will be speaking at an event in the South West where he will share his insights into the benefits of collaborative working. 

If you would like to find out more or would like to continue the discussion, please get in touch!

Lucy Osude, Nurseline Healthcare

Energy Intensive Industries: Impact on Care Providers

To ensure the UK meets its low carbon targets, the Government has introduced several policies that are driving renewable growth. However, they’ve also increased the cost of electricity and made UK prices higher than in other countries.

To help Energy Intensive Industries (EIIs) in the UK compete with their EU counterparts, the Government suggested they should be exempt from some Third Party Charges (TPCs). The cost of the exemption would be paid for through an increase in costs for non-EII businesses.

Power Direct ask how much this is costing you and what is the impact on your business,

What is the Energy Intensive Industries (EII) exemption costing your business?

In an effort to meet low carbon targets, the government has introduced several policies that are aimed at reducing greenhouse gas emissions by incentivising increases in renewable energy. This has had the effect of driving up retail electricity prices, which in turn, has put pressure on UK businesses to remain competitive with those in other countries that are paying lower energy bills.

In response, the government introduced a scheme to reduce the cost of energy for businesses classed as Energy Intensive Industries (EII), in a bid to ensure that UK businesses can remain competitive. It meant that EIIs should be exempt from the costs of the Renewable Obligations (RO) scheme, the Contracts for Difference (CfD) scheme and the Feed in Tariff (FiT) scheme.

The businesses qualifying for the EII exemption are those where energy usage makes up a significant part of production, such as those within steel, chemicals, engineering and brick-making industries.

What does it mean for your business?

Earlier this month, the government announced that it is now considering widening the eligibility for the current EII exemption.

The proposed changes would mean more British businesses benefiting from a reduction in their energy bills.

But if you’re not one of those qualifying businesses, what impact will it have?

Most businesses won’t be eligible for the EII exemption. It means that, as with the current scheme, these businesses will face higher costs for their energy, in order to subsidise the scheme.

What can you do to minimise the impact?

In order to keep rising energy costs in check, you might find that you will benefit from a fully-fixed, fully inclusive contract that looks to take into account future regulatory and non-energy cost changes. This means you can be confident your costs will remain fully-fixed for the entire period of the contract, and you won’t get any unwelcome surprises along the way!

Next steps

For an informal discussion about the best energy solution for your business, call Power Direct Ltd’s friendly team of energy consultants on +44 (0)1452 347 549

 

 

PowerDirectLogo.jpg
Cabot Training is a new Commercial Partner

Cabot Training were delighted to join Care and Support South West as commercial partners this summer. Having worked with many organisations including Milestones Trust, Brandon Trust, Care Futures, Newkey, Aspects2 and many more, it was a natural choice to demonstrate to all members that we are more than a training company.

Cabot has a range of associates with a proven track record to grow your business and maximise the potential of your staff. In this Newsletter we get the opportunity to meet the team. For further information contact enquires@cabottraining.org.

Karen Brasier

Karen has experience of working in all of the above organisations and during this time has delivered both ILM Qualifications to hundreds of Senior Support workers and also a range of tailor made training days for managers. It is her belief to inspire individuals to believe in themselves and simply provide them with the confidence to do their job!

Her greatest love is to provide FISH Training! Training that can change mindset and develops a culture of can do  into the workplace.

Samantha Brooks

Sam was in the Army for over 17 years as an Educational and Training Officer. During her years of service, she was involved in the design, development, delivery and evaluation of numerous leadership and management training courses, as well being an experienced facilitator, specialising in the personal development of others. She has taught on numerous ILM courses, as well as general management and leadership, communication and functional skills, values and standards, cultural awareness and equality and diversity.

Paddy Maclennan

Paddy has over 17 years of experience as a human resources manager, after starting his career in sales and marketing. Before starting his own business he was the Head of Personnel, Welfare and Development with Stage Electrics Partnership in Bristol where he ensured the welfare and training of 270 staff

Running a business is highly rewarding but making sure your staff are looked after can take huge amounts of time. While there is no doubt your staff are a huge asset to your business, it’s important to remember that you are, too.

Mary Stoate

Mary worked in the NHS as a radiographer for over 23 years before becoming an independent Management Lecturer and Management and Training Consultant. She has worked in a variety of public and private organisations, designing and delivering ‘in-house’ and accredited programmes.

In addition to her Radiographic and teaching qualifications Mary has the Professional Diploma in Management: Managing Health and Social Care and an MBA

Frances Fawcett (MInstLM, FITOL)

After almost two decades with IT companies including Borland International, Canon (UK) and Microsoft Corporation, Frances spent several years providing marketing consultancy and global programme management to a variety of small and large companies. This included global management of a licensing programme for Microsoft Corporation

Frances is a Practitioner of Neuro Linguistic Programming, a member of the Institute of Leadership and Management, and a Fellow of the Institute of Training and Occupational Learning.

Alarm at CMA Guidance and Support from RWK

At the conference, Royds Withy King spoke of their concern at the impact of the new proposals in the report from the CMA enquiry into the care market and offer support to Care Association members. They emphasis that their focus is to protect the Care Provider whereas the CMA look to protect the consumer only.

"It is now becoming clearer to us that it is imperative that care providers review their service user contracts. There is more information about our service user contracts on our website here and there are downloadable documents with more information below.

The Care Association Alliance say: 

"The draft CMA Guidance came out last week and is far more extensive than we expected. As a result we think most providers are going to have to make changes to their contracts and admissions processes in order to be compliant, particularly around the following:

1.       The provision of prescribed information to prospective residents at three separate stages: on first contact, before they accept an offer of a place and on confirmation and finalisation of the offer

2.       Charging of upfront fees and deposits

3.       Charging fees on death.

4.       Increasing fees

5.       The use of guarantors

6.       FNC payments

7.       Fees when a person is absent"

Royds Withy King are offering a model contract with guidance notes at discounted rates (with 5% rebate for the care association). The discount is dependent upon the numbers of members who sign up. There is a separate contract for residential/nursing and homecare."

They are also offering a bespoke option if providers want a tailored version of the contract and detailed advice on implementation.

These attachments provide full details:

Power Direct offer great savings on energy prices
PowerDirect_image.png

About Our 2018 Energy Buying Basket

Our energy buying baskets are intended to help businesses that want the best available rates for their gas and/or electricity whilst being able to fix their prices for the length of the contract. Combining your purchasing power with others means that the prices will be better than if you purchase on your own.

Many energy buying baskets are sold on the basis that the energy will be bought on a ‘wholesale’ or ‘flexible’ basis. The energy buying basket at Power Direct is not like that. The term of your contract will be a minimum of 12 months and a maximum of 24 months, depending on when your current contract ends, and your prices will be fixed for that period. All the options that we have negotiated include direct debit payments.

Clients who purchased their gas as part of our last basket, on average, saved 5.4% per meter and an average of 3.4% per meter on their electricity, compared to the best individual price quoted.

Our next basket will be in March 2018 and anyone with an electricity or gas meter with a contract end date between now and September 2019 can take part.

Our gas basket is currently at 9,546,246 kWh and our electricity basket is at 6,174,706 kWh both of which are growing fast.

Power Direct in Action

Whilst checking the latest invoice for a care home, we noticed that they had not been billed for any night rate consumption. Since we knew that the premises had a meter fitted that should identify day and night consumption separately and that our client had been contracted to pay differential day and night rates, we knew this could not be correct.

We contacted the supplier to ask them to investigate the fault. The supplier advised us that it looked as though the meter was configured incorrectly and it needed an engineer to visit the premises to replace the meter.

All the consumption had been charged at day rates when some of the consumption should have been charged at a lower night rate. The client had been overcharged and would continue to be overcharged until the metering issue was corrected. We proceeded to arrange an appropriate time with the client and supplier for the meter to be changed.

The meter was swapped and after obtaining up to date meter readings the supplier advised that the client used on average 81% consumption during the day and 19% during the night. The supplier acknowledged their error and split the consumption 75% (day) - 25% (night) for bills they had already sent. They then credited back the invoices and rebilled.

This generated a refund of £382.96 and going forward the client was not further overcharged.

 Get in Touch

To find out more about our energy buying baskets or for anything else relating to your energy supply, please don’t hesitate to contact Jordan either by phone 01452 347 549 or email jordan.douglas@powerdirectltd.com

Property Ownership: Tax Advice from Hazlewoods

If you own the property that is used in your healthcare business, it may be time to consider whether this structure is ideal from a tax perspective.

 The diagram below is a common structure of a care business – A and B (often husband and wife, although it doesn’t have to be) own the property or properties from which the business trades, and rent it/them to the trading company, which is also owned by A and B. This structure often arose upon incorporation from a traditional partnership with a view to avoiding a Stamp Duty Land Tax (SDLT) charge.  After all, why pay SDLT again, when you paid it on the original purchase of the property or properties?

hazlewoods property diagram.JPG

We have met many operators who are in the above or similar position and although not widely realised, there are a number of potential tax disadvantages of this structure:-

1)  Inheritance tax (IHT). Upon death, it is likely that 50% of the property value would fall into the owner’s estate i.e. be subject to tax, whereas if the property was owned by the company, the entire value of the shares could qualify for Business

Property Relief (BPR) and therefore not be subject to IHT.

2) Capital gains tax (CGT). Upon sale of the company, and assuming all conditions are met, the shares may be eligible for Entrepreneurs Relief, resulting in a tax liability of 10% on the disposal. If the property is owned privately, the tax liability is likely to be a mix of 10% and 20%. Overall, it is likely to be higher though.

3) Income tax (IT). In many cases operators will need to charge rent to the trading company to cover their personal bank loan repayments in relation to the property, incurring significant personal tax liabilities.  This often means that the monies they take out of the company (e.g. dividends or salaries) are taxed at the higher rate or additional rates of personal tax.

An alternative is to consider transferring the property into the trading company. Each case would need to be carefully analysed. Considerations include:-

1) SDLT. If the property is owned as a partnership it may be possible to transfer it

into the trading company, with no SDLT liability.

2) CGT. Upon ultimate disposal of the business, it is likely that the CGT position will

be improved by a transfer of the property into the trading company. There may or may not be CGT to pay upon transfer of the property into the limited company,

depending on a number of factors – this area would need to be looked at in detail to get the right solution for you.

3) IHT. It is possible that by transferring the business property into the company the IHT position, upon the owner’s death, may be improved. The maximum saving being, to avoid 100% of the property value falling into the owner’s estate.

4) Income tax. Provided that the associated bank debt is also transferred into the company, there may no longer be any requirement to charge rent, which could improve the personal tax position.      

As with any tax planning, a transfer of property from private ownership to company ownership will not be suitable for all.

It may be that the current banking arrangement is favourable (and you don’t want to give your lender an opportunity to vary the terms!), or that there is a minority shareholder and by transferring additional value into the company (the property) you would be increasing the value of their shareholding.

If you would like to discuss the above please contact Andrew Brookes or Rachael Anstee, we believe that for many with this structure we could suggest a better structure.

QSBD ARTICLE ON CMA MARKET STUDY

Mike Doyle, corporate and commercial solicitor at QSBD writes: The Competition and Markets Authority (CMA) has given notice (on 2 December 2016) that it has started a market study into care homes for the elderly to assess the following: 

  • The consumer’s experience of choosing a care home.
  • Whether the regulation of care homes is adequate.
  • How well care homes are complying with their obligations under consumer law

Why conduct a market study?

The purpose of a market study is to examine possible competition and consumer protection issues in a market. If the CMA thinks that the market is not working efficiently it can:

  • Take action to improve the quality and availability of consumer information and increase   consumer awareness.
  • Promote self-regulation in the market.
  • Recommend revisions to regulation and government policy.
  • Make a market investigation reference.
  • Accept undertakings from providers instead of making a market investigation.
  • Crucially, the market study will not look at funding issues or standards of care and will also not look at homecare.

Background to the market study

The CMA’s decision to start the market study stems from the Office of Fair Trading’s findings in 2005 that there was cause for concern in relation to the following points:

  • Whether care home providers were treating consumers fairly and complying with             consumer protection law.
  • Whether care homes were providing sufficient information to make an informed decision             as to choice of care home.
  • How local authorities discharge their obligations.
  • Competition and regulation.
  • The impact of changes in costs and regulation.
  • Whether the market, policy and regulation are effective and sustainable.

Citizen’s Advice also made a report in February 2016 highlighting instances of care home providers not complying with consumer law. For example, there had been evidence of increasing fees at short notice and charging undisclosed additional costs.

Concerns have also been raised by Age Concern and other charities in the past in relation to complaints procedures, for example, care home staff imposing restrictions on residents who complain.

 What is a market investigation?

A market investigation (as opposed to a market study) is an in depth investigation into a market to consider if there is an adverse effect on competition.

Such an investigation would be conducted by a team from the CMA’s panel of members including experts in different areas such as economics, business, law and the public sector. The investigation is conducted independently from the CMA board and none of the team involved will have taken part in the decision to refer the market for investigation.

The market investigation should be finalised within 18 months of its reference (although this period can be increased by a further 6 months). If the investigation finds that there is an adverse effect on competition, the CMA has extensive powers to impose its own remedies and make recommendations to regulators and the government.

Appeals against any decision related to a market investigation would then be made to the Competition Appeal Tribunal.

What does the CMA define as ‘adverse effects on competition’?

It is difficult to define ‘adverse effects on competition’ because these vary from market to market.

The OFT (predecessor to the CMA) found in its 2012 market investigation into private healthcare a number of features that, individually or in combination, prevented, restricted or distorted competition in the UK private healthcare market. These features included a lack of easily comparable information, high levels of concentration at national and local level which may give a degree of market power to healthcare providers and significant barriers to entry and expansion.

Next steps – what can you do?

Care providers, consumers and other interested parties are invited to submit views and evidence on whether the CMA should make a market investigation reference by 16 January 2017.

The CMA must:

  • Announce whether it intends to make a market investigation reference by June 2017 and            begin consultation.
  • Publish its final report on the market study in December 2017 setting out the reasons for             its decision.

What can you do to protect your business?

Care providers should have their service user terms and conditions and residents contracts reviewed to ensure they comply with current consumer law, especially if they have not been reviewed since October 2015 when the Consumer Rights Act 2015 came into force. Please contact us directly for a free review of your Service User Contracts to ensure you are compliant.


MEET THE AUTHOR

Mike Doyle

Corporate & Commercial Solicitor

I am an experienced corporate solicitor with many years of experience working in the Healthcare sector. I support care homes, domiciliary care providers, pharmacies, opticians, dentists and other healthcare providers (Healthcare Businesses) primarily when they wish to sell their businesses, acquire other businesses, restructure, merge or demerge their business. Please contact me on 0117 930 8461 or michael.doyle@qsbdlaw.com

TOWERGATE AWARDS HOSTED BY DENISE VAN OUTEN

Nominations open for Towergate Care Awards 2017!

Nominations are now open for the Towergate Care Awards 2017. As a specialist insurance broker, Towergate Insurance provides cover for various areas of the care industry and wants to celebrate individuals who have demonstrated outstanding excellence in care.

The awards will recognise and pay tribute to those who go above and beyond to deliver the best quality care every day, providing a moment in the spotlight for people in this profession.

 David Ross, Chief Executive of Towergate, commented“We created an awards ceremony which recognises the vital role carers play in our community. We work with many care organisations and witness the high quality of care they provide on a daily basis. 

“It is a truly humbling experience to meet the people who can make someone’s life easier and happier by simply caring.”

The ceremony will be hosted by presenter and actress, Denise Van Outen who is well known for her stage roles in Chicago, Tell Me on a Sunday, Legally Blond and Rent.  Denise is also a familiar face on our television screens sitting on the panel for BBC1’s Any Dream Will Do.

 Speaking about the awards, Denise Van Outen said “I am extremely honoured to be a spokesperson for the Towergate Care Awards 2017 and look forward to presenting the awards in March. Carers carry out inspirational, selfless work every single day in an effort to make other individuals’ lives more comfortable.

 “This is particularly close to my heart, and I am privileged to be involved in celebrating those who truly deserve recognition for their generosity, compassion and commitment to the care industry.”

 There are nine award categories, reflecting the diversity of caring in all its many forms, and the winners will be revealed at a lunchtime event held at The Dorchester Hotel in London on Thursday 23rd March 2017.

 Towergate is urging people to give recognition to those who work tirelessly to make other peoples’ lives brighter, and we would urge our members to submit entries for those who regularly go over and above, particularly for the Outstanding Contribution to Home Care category.

 There are eight other categories open for nominations, which are as follows: fostering contribution of the year; care home worker of the year; nursery school worker of the year; volunteer of the year; practice manager of the year; therapist of the year; outstanding contribution to the education sector; and Part Time Working Mummy award – people’s choice for unsung hero.

 There will also be a final award revealed on the day ‘The Towergate Care Awards Winner – 2017’ and the winner of this award will be selected from one of the finalists.

 This year will see the addition of a new category ‘People’s Choice for Unsung Hero’ -   sponsored by ‘The Part-Time Working Mummy’ blog.  Rachaele Hambleton, author of the blog, was catapulted into the media spotlight when she wrote a very honest account of helping a first time mum having a ‘what have I done?’ moment.  This post went viral and, since then, Rachaele has attracted a following of over 250,000 men and women, all helping each other through life’s trials and tribulations.  This award has been introduced in honour of those men and women – those who go out of their way to help others through difficult times.

 To read the terms of entry for each award and to submit a nomination please visit www.towergateinsurance.co.uk/care-awards 

Deadline for entries is Tuesday 21st February 2017.

 

BANNING RELATIVES FROM CARE HOMES: JUST POOR PRACTICE?

The media have recently been highlighting cases were the relatives of residents are banned from the care home. Whilst there are no doubt some cases of poor practice, the media coverage does not address the full story. The Victoria Derbyshire BBC programme in November prompted new guidelines.

Why would relatives or other visitors need to have their visiting restricted or supervised, or even in extreme cases for visiting to be prohibited. Quite often, this is because the visitors are abusing staff or by their actions putting at risk their relative or other residents at the home. They could be inappropriately seeking to involve themselves in personal care, or trying to supply or administer unknown medication,they could just be generally acting in a way that is frustrating the proper management of the care home.

What rights does a care home have? Read the QSBD bulletin

LATEST HEALTHCARE RESEARCH

At Barclays, we are committed to providing our clients with thought leadership on the challenges and opportunities that we are all facing within the sector. I am therefore pleased to share with you two new pieces of research, produced in partnership with Caring Times, Knight Frank and Pinsent Masons.

The “Annual UK care sector roundtables and survey 2015/2016” analyses the results of the annual survey of Caring Times members, tracking the sentiment in the residential care sector. Read the brochure to find out why staffing costs concern operators the most and what actions are being taken to improve recruitment in the sector.

Our recent “Time of change: a review of social care 2011-15” report aggregates Caring Times survey data from the past five years and identifies emerging and diminishing trends during this time. Open the report to learn more about changing financial pressures, occupancy rates and confidence levels.

To participate in this year’s survey and share your views on sector policy, governance, financing and confidence levels, please click here

We hope you find this research useful. If you have any questions, please don’t hesitate to contact me.

Kind regards,

Neil Chandler

“ADULT SOCIAL CARE – FUNDING, STAFFING AND THE BOTTOM LINE”

Essential Reading: This report from Christie highlights the continuing challenges facing the sector and is now in the  member resource section of the C&SW website.It explores:

  • the impact of local authority fee increases,
  • the implementation of national living wage, 
  • key points surrounding nursing staff including immigration and student nursing
  • projections over the coming years to 2020
  • commentary about what the recent Brexit vote could mean for the sector 
RED LINK PEOPLE ARE TALKING ABOUT US

With costs rising on a regular basis, now is the time to talk to Redlink

We work hard to make your business as profitable as possible by eliminating waste on essential spend. Our team, together with an exclusive range of suppliers, means we can reduce your costs and free up precious extra time for you and your team to get on with running your business.

Our wealth of experience in dealing with care providers means we understand the pressures and challenges you face. 

For example:

This month we saved two Somerset based care homes an average of 20% on their food costs, 14% on all their cleaning supplies, gloves and aprons and 17% on their waste management costs. 

Talk to us on 01935 420400 or email brian.ritchie@redlinkalliance.co.uk

 Find out how we can save you time and money

RED LINK ALLIANCE HELP TO COMBAT LIVING WAGE COST INCREASES

April 1st was the implementation date for the new National Living Wage increase.

For many care homes across the country this wage increase, the domino effect from this and the government and local authority cuts, how will you cope with this added strain on your finances? With all of these issues to deal with it's no wonder that the care sector is struggling to keep its head above water.

 At a time when spend is at an all-time high, it might be time to look at how you can do things differently and cut costs in other areas to a help for offset this increase in staff costs.

Redlink Alliance specialise in reducing costs across a wide range of essential spend areas, Our team together with an exclusive panel of suppliers will manage everything on your behalf, from an initial review, supplier and contract negotiations, account management and diarising your renewals.

We are saving an average of 21% for Care Providers throughout the country.

Ring us NOW on 01935 420400 or 07853 147389 to start saving, or contact

brian.ritchie@redlinkalliance.co.uk

BARCLAY ROUND TABLE EVENTS GIVE A NATIONAL PICTURE OF CARE

We are pleased to attach a summary of the series of roundtable events we held late last year, providing a national picture and with individual operator comments. I co- hosted the Bristol lunch with Paul Birley and feedback from those who attended was excellent.

It’s an interesting read (Download here) with the following areas covered:

  • Costs and recruitment concerns temper operator confidence in their businesses
  • Concerns highlighted as care providers share their stories
  • Bristol care home operators remain optimistic
  • Staff costs of major concern in Manchester
  • A banker’s view: Paul Birley
  • A view from Pinsent Masons – Joanne Ellis

Care home trading performance from Knight Frank

IS YOUR COMPANY STRUCTURE COSTING YOU MONEY?

Over the last few years, we have come across a number of situations where an existing business structure has cost operators significant amounts of money on sale.

This could have been through increased tax on the sale of the business, or through the structure of the business causing uncertainty to an acquirer and thus reducing the multiple of profits, which they are willing to pay for the business.

It is important to ensure, well in advance of a company sale, that the structure of the business is as attractive and tax efficient as possible. 

Situations which can cost you money if not correctly structured include:

Not having a share structure that allows for Entrepreneurs Relief (in many cases the owner can believe they qualify for Entrepreneurs Relief, but the rules are different to the old Taper Relief regime);

More than one trade in the company that is being sold and the cost of extraction;

  • Having properties outside a company (maybe owned personally) when it would be beneficial for buyers and sellers if they were inside the company;
  • Extracting cash prior to sale rather than retaining the cash in the business to benefit from Entrepreneurs Relief;
  • Previous use of employment benefit trusts, EFRBS or other disguised remuneration schemes;
  • Non-trading assets such as second homes or investment assets etc, being held by the company, which need reorganising prior to sale.

If any of these issues could be a concern for you or you have any other business structuring queries, please do not hesitate to contact a member of the Healthcare Team to talk through the work we can do to help you reorganise the business and ensure you achieve maximum value for your business whilst ensuring that tax paid on the sale is minimised.