The Autumn Statement delivered a number of commitments to the sector, including raffirming previously agreed additional funding measures such as digitising the NHS Health Check, as well as additional funding into various NHS-impacting programmes such as:
- Expanding the NHS Talking Therapies programme.
- The Clinical Trial Delivery Accelerator, focused on dementia.
- The Fleming Centre, a collaboration led by Imperial College London and Imperial College Healthcare NHS Trust.
- Our Future Health (OFH) programme, which aims to genotype 1 million participants to develop better ways to prevent, detect and treat diseases.
- A £400 million fund to support investment in the UK life sciences ecosystem, including improved clinical trial capacity.
There we no announcements on the VAT reform to s.41 for NHS bodies, which remains one of the biggest concerns to our NHS clients.
Sweeping reform that is not well planned, or that is introduced without sufficient time to implement, will cause turmoil in the sector, the finance team of which are already facing issues with capacity and staff retention. It appears that a decision on reform is some way off, so Trusts must continue to grapple with applying the Contracted Out Services (COS) rules with limited guidance available from HMRC.
If you are an NHS body directly impacted by these investments, please reach out to your VAT consultant or email us at VAT@bbvat.co.uk to discuss the implications of these further.