Healthcare
Vickery Holman have acted for a range of clients in relation to healthcare and education premises for many years, but we have now launched a specialist department with extensive knowledge of this sector.
Healthcare property services covering the South West
Our lease advisory team are here to help landlords, investors, owners and occupiers with all aspects of leases for commercial properties across the South West. Leases can be complex so our priority is to give you the best advice we can, based on our expert knowledge of the law of leases as well as understanding the sector and market conditions.
Vickery Holman act for a range of consultancies including:
- Dentists
- Vets
- Doctors
- Healthcare buildings
- Care homes
- Nurseries and schools.
Our specialist team of Chartered Surveyors across our offices offer a range services which include, but are not limited to:
- Accredited ‘Red Book’ valuations for loan security purposes
- Valuations for partnership set up and incorporation
- Dispute resolution/expert witness assignments
- Rent reviews for landlord or tenant
- Freehold ‘bricks and mortar’ valuations
- Building advice
- Consultancy services to support relocation
- Business rates advice
- Asset reviews including disposal and acquisition advice.
If you would like to discuss any of these services further, please do not hesitate to get in touch here.
Key Contacts
Healthcare FAQs
What is attractive about owning a healthcare practice?
Owning a healthcare practice property can offer stability, reliable income, and potential for long-term growth, making it an attractive investment option for commercial property owners. However, it’s essential to conduct thorough due diligence, understand healthcare industry dynamics, and consider regulatory factors before investing in this sector.
Is there any tax relief in relation to Healthcare property?
In the UK, there are various tax reliefs and allowances available to property owners, including those who own healthcare properties. Some of the tax reliefs that may apply specifically to healthcare property ownership include:
Capital Allowances: Property owners may be eligible to claim capital allowances on qualifying expenditure incurred on fixtures and fittings within healthcare properties. This includes items such as medical equipment, furniture, and certain building fixtures. Capital allowances allow property owners to deduct the cost of these assets from their taxable profits, reducing their tax liability.
Business Rates Relief: Some healthcare properties may be eligible for business rates relief or exemptions. For example, properties used for charitable purposes or for the provision of medical services may qualify for relief from business rates, reducing the property owner’s tax burden.
VAT Relief: Certain healthcare services provided by registered healthcare professionals are exempt from VAT. Property owners leasing space to healthcare practitioners or organizations providing exempt healthcare services may benefit from VAT relief on rental income.
Entrepreneurs’ Relief: Property owners who sell their healthcare properties may be eligible for Entrepreneurs’ Relief, which provides a reduced rate of capital gains tax (10% instead of the standard rates) on qualifying gains arising from the sale of all or part of a business, including the disposal of a healthcare practice.
Stamp Duty Land Tax (SDLT) Relief: There may be SDLT relief available for certain healthcare property transactions, such as transfers of property between related entities or transactions involving the transfer of property to a registered charity.
Inheritance Tax Relief: Inheritance tax reliefs may apply to healthcare properties held within an estate, particularly if the property is used for charitable purposes or qualifies for other reliefs or exemptions.
It’s important for property owners to seek professional advice from qualified tax advisors or accountants to fully understand their eligibility for tax reliefs and to ensure compliance with tax laws and regulations. Tax relief schemes may be subject to specific conditions, limitations, and eligibility criteria, so it’s essential to evaluate each relief in the context of individual circumstances.
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