The government needs to get tough with care home operators  ​not paying their share of tax

Internationally owned care companies are ​failing to pay their fair share of taxes and depriving the ​UK economy of millions of pounds, ​according to a ​UNISON-backed report published today (Tuesday) by an international team of specialist tax investigators. The ​report, from the Centre for International Corporate Tax Accountability & Research (CICTAR) and Public Services International (PSI), identifi​es three internationally owned UK care home operators, which it says are diverting cash to offshore tax havens, while claiming to make little or no profit in the UK. Sunrise Senior Living, Gracewell Healthcare and Signature Senior Living, all part-owned by Canadian company Revera and US real estate company Welltower – one of the largest owners of UK care homes, appear to be using aggressive tax avoidance schemes, the report – Darkness at Sunrise: UK Care Homes Shifting Profits Offshore – finds. Between them Sunrise, Gracewell and Signature, which all have headquarters in Buckinghamshire and together operate 60 care homes across the country, charged residents more than £225m in fees in 2019​, says the report. Despite th​is multi-million ​pound income, the operators reported little or no profit in the UK, CICTAR says. But analysis of reports given to shareholders of US company Welltower, which has a minority stake in the three companies, indicate that in 2019 it made a net operating income of £64m from its UK care homes....
Source: UNISON Health care news - Category: UK Health Authors: Tags: News Press release care Christina McAnea CICTAR Source Type: news