Government housing plans could shake up medical accounting

Published on May 11, 2012 by Crawfords Accounting

We will be keeping a close watch on how government plans to build homes on previously publicly owned land might impact on medical accounting.

In a statement issued this week, the Department for Communities and Local Government has outlined figures showing over 100,000 homes may be built on public land.

This ranges from housing 450 households at the former Erskine Barracks in Wilton, to small developments like a ten-home project at Leicester Frith Farm.

However, among the areas of land outlined this week, only one – the former Princess Marina Hospital in Northampton – names a target profession for the new residents, with 12 flats for junior doctors among the new residential properties to be built there.

Our Manchester accountants are used to dealing with the disruption that government schemes of all kinds can have on medical accounting.

We have plenty of experience with accounting for doctors, and will be watching these latest proposals for any likely implications on property tax and land ownership for new residents.

In particular, it remains to be seen who will own the properties once they are first built, as the government have proposed a “build now, pay later” scheme for developers to begin construction work without buying the land first.

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