Boylan & Dodd Tax Breaks - Convalescent and Nursing Homes



Budget 2006: These are one of the few tax breaks not to be terminated following on from Budget 2006. More details to be announced in the Finance Bill.

Capital expenditure on the construction, extension or refurbishment of a Convalescent or Nursing Home get the following tax break, which is available to both individuals and companies:-

Tax Relief for Convalescent/Nursing Homes
Capital Allowances, which reduce your taxable income, are claimable as follows:-
Years One - Six 15% of capital expenditure allowed as a capital allowance
Year Seven 10% of capital expenditure allowed as a capital allowance



Conditions
  • The Convalescent/Nursing home must be approved by the relevant Health Board
  • The allowances will apply to expenditure incurred after 31 December 1997 for nursing homes. In the case of convalescent homes, the expenditure must be incurred after 1 December 1998
  • The convalescent/nursing home MUST remain as such for 10 years, otherwise all the allowances will be lost
The Role of Boylan & Dodd
How will we help you utilise these allowances? We will:-
  • ensure your scheme is approved by the relevant Health Board
  • assist you in taking full advantage of the capital allowances available
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