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It is essential you have your rent review done on time. Many practices are behind when it comes to their review cycle. Therefore, practices are having to wait for monies to be paid for increases to their reimbursement. It is worth contacting your NHS/CCG 1-2 months prior to the review and requesting a copy of the CMR1 forms in order to instigate the review process.
Notional Rent determinations are usually undertaken by a District Valuer on behalf of the NHS. Due to the specialist nature of a GP Surgery these valuations are subjective and can be challenged by an independent surveyor if a practice isn’t entirely happy with the outcome or want to seek a second opinion to ensure it is correct.
Claim Tax Relief and Capital Allowances
If you’re considering purchasing a building or refurbishing your GP premises, tax relief on this type of expenditure can be substantial. Seek advice from a specialist accountant to understand what and how you can claim.
Premises funding such as NHS England’s Estates and Technology Transformation Fund (ETTF) or local Deanery funding can be used to improve and expand your GP premises which in turn will increase the income you receive through Notional Rent reimbursement. Please note; you will not automatically receive Notional Rent for extensions. You will need to seek approval from NHS for the additional reimbursable area prior to any works being undertaken.
Keep your premises as compliant as possible with the relevant requirements and standards. Improve the accessibility of the building both internally and externally as well as infection control measures. This will have a positive effect on the patient experience as well as enhancing your Notional Rent reimbursement.
Utilising non-reimbursed space within your practice by renting it out to alternative healthcare services (such as Pharmacist, Physios, Opticians, Dentist or Chiropodist) can generate additional income as well improve services to the local community. Always seek professional advice from a specialist surveyor or accountant first.
Check your lease and ensure you instigate the rent review at the right time and seek independent specialist advice to ensure the rent is kept in line with the current market levels.
BW Healthcare Surveyors offer specialist property advice to GP practices across the UK. For further information and advice, please contact Will Ellis, Co-founder and Business Development Director on T: 0114 442 0098 or E: email@example.com
Sue Pyatt, Practice Manager
Francis Mulhern, Bretton Medical Practice Peterborough
Dr Adnan Mohammad, GP Partner, Newsome Surgery, Yorkshire
Jill Foster, Practice Manager, Beacon Primary Care, Lancashire