Kingscrest 2
Average claim of £250,000
Action is being taken to re-open Kingscrest VAT claims for care homes that operated between 1973-2002. This opportunity is available to new claimants, inheritors and to those who have already claimed as their historic claims can be increased.
Don’t miss this limited chance to recoup historic VAT costs.
In 2002, Kingscrest Associates Ltd & Montecello Ltd (t/a Kingscrest Residential Care Homes) successfully challenged HMRC’s interpretation of VAT law, allowing care home operators to register for VAT and recover VAT on costs. You can learn more about the history of the Kingscrest case here.
As a result of the case, Cost Care Tax helped many UK care homes to recover substantial amounts of VAT on historic expenditure. Unfortunately, there were restrictions at the time that prevented the recovery of VAT costs in full; private residents were excluded from claiming, some councils refused to entertain claims, and claimants were expected to present documentary evidence of historic expenditure.
The ability to claim was withdrawn in 2016 leading to many care homes missing out on substantial sums.
A New Window of Opportunity
Action is being taken to re-open Kingscrest VAT claims for anyone who operated/traded a care home prior to 2002. This opportunity is available to new claimants and to those who have already claimed as their historic claims can be increased.
What’s different this time? The new claims will include private residents, go back to 1973 and attract interest payments from HMRC, and will not require evidence of expenditure (e.g. remittance advices, trading accounts etc), or accounting records, due to a standardised methodology which will be agreed with HMRC.
A claim will still be possible if the business has ceased trading, was sold or has been inherited.
How Much Could Your Claim be Worth?
We anticipate that benefits will be calculated based on £700 per bed, per year.
40-bed home owned for 16 years (1987-2002)
Potential Refund – £448,000
20-bed home owned for 10 years (1993-2002)
Potential Refund – £140,000
24-bed home owned for 18 years (1985-2002)
Potential Refund – £302,400
15-bed home owned for 18 years (1985-2002)
Potential Refund – £189,000
About Cost Care Tax
Established in 1995, Cost Care Tax is one of the leading care home and capital allowance tax specialists in the UK. We’re passionate about maximising the rewards for forward-thinking businesses, regardless of sector. We’ve claimed back over £900m in tax relief for businesses over the last 25 years.
Learn more about the Kingscrest 2 opportunity or register your interest by providing your contact details. A member of our friendly team will be in touch.
Our Office
200A Stockport Road,
Timperley, Cheshire
WA157UA
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