Specialist Accountants for Care Agencies & Homecare Providers

CQC requires a comprehensive financial viability statement including 12-month cash flow forecasts, projected profit and loss statements, details of startup capital and funding sources, insurance documentation, and evidence of financial sustainability. LOYALS prepares professional financial viability statements tailored to CQC requirements, demonstrating your agency can operate safely and sustainably. Our statements have supported successful CQC registrations across all London boroughs.

Care worker payroll involves tracking variable hours across multiple clients, calculating travel time between visits, processing mileage claims at HMRC approved rates, managing sleep-in payments, and ensuring National Living Wage compliance for every hour worked. LOYALS specializes in care sector payroll, handling all these complexities monthly. We ensure your carers are paid accurately and on time while maintaining full employment law compliance and reducing your administrative burden to zero.

Yes! All mandatory care training is fully tax deductible as a business expense. This includes manual handling, safeguarding, medication administration, health and safety, first aid, dementia awareness, and moving and handling courses. Training costs for new carers, refresher courses, and specialist training all qualify. LOYALS ensures you claim every eligible training expense to reduce your Corporation Tax bill. We've saved care agencies thousands by properly claiming training costs their previous accountants missed.

Council payment delays of 30-60 days are unfortunately standard in care contracts. Effective cash flow forecasting is essential - you need sufficient reserves to cover weekly carer payroll while waiting for payment. LOYALS creates detailed cash flow projections specifically accounting for delayed payments, helps you calculate required working capital, implements invoice tracking systems to monitor overdue payments, and advises when to escalate professionally while maintaining good council relationships. We've helped care agencies across Westminster, Camden, Islington, Hackney, Tower Hamlets, and all London boroughs navigate local authority payment challenges.

Expect £15,000-£30,000 in realistic startup costs: CQC registration fees (£3,289), comprehensive insurance (£3,000-£8,000 annually for employer's liability, professional indemnity, and public liability), office setup and software (£2,000-£5,000), legal and accounting costs (£2,000-£4,000), initial marketing and website (£1,000-£3,000), and most critically 3-6 months operating reserves to cover carer payroll before contracts generate positive cash flow. LOYALS helps new care agencies create detailed financial projections, identify exact funding requirements, and prepare professional business plans for bank loans or investor funding.

Only hire carers once you have confirmed contracts generating sufficient hours to cover their guaranteed minimum hours (if any) plus all employment costs including wages, employer NICs, pension contributions, mileage, and training. Many new agencies fail by hiring staff optimistically before securing contracts, creating unsustainable payroll commitments. LOYALS advises on optimal hiring timing based on your contract pipeline and cash flow position. We calculate exactly how many weekly care hours you need before each new hire becomes financially viable, preventing you from overcommitting before revenue is secure.

LOYALS offers three packages for care agencies. Premium Accounting at £150/month includes all compliance, care worker payroll, VAT, and Companies House filings - everything needed for established agencies. Business Mentor at £250/month adds monthly strategy sessions, contract pricing optimization, and CQC financial statement support for growing agencies. Business Growth Programme at £2000/month provides complete business support including marketing, legal advice, and tender preparation for agencies expanding to multiple sites. All packages include dedicated chartered accountant support 7 days per week (Mon-Fri 9am-6pm, Sat-Sun 10am-5pm). No hidden fees or hourly charges.

Yes! We manage accounting for care agencies operating across multiple London boroughs with separate branches. Our systems track finances by location, consolidate multi-site reporting for group accounts, manage separate payrolls if needed, provide location-specific profitability analysis so you understand which branches perform best, and support expansion into new boroughs with CQC financial statements. Whether you're operating in Westminster and planning Camden expansion, or running sites across Hackney, Tower Hamlets, and Islington, we handle the complexity professionally.

Absolutely. We prepare professional financial projections, comprehensive business plans, and supporting documentation for bank loans, Government Start Up Loans (£500-£25,000 at 6% interest), and investor funding presentations. Our clients have successfully raised £50,000-£200,000 in startup capital using financial documents we've prepared. We demonstrate strong understanding of care sector economics, realistic cash flow projections accounting for delayed council payments, and clear pathways to profitability that give lenders confidence in funding your care agency.

From July 2025, CQC introduces new registration requirements including significantly enhanced financial scrutiny, stronger evidence of long-term sustainability (not just 12-month viability), additional assurance statements from directors about financial capability, stricter governance standards proving financial oversight, and more detailed evidence of contingency planning for financial difficulties. Agencies must demonstrate robust financial planning and management systems beyond basic compliance. LOYALS helps care providers prepare comprehensive documentation meeting these new enhanced standards, ensuring smooth registration approval under the stricter regime.