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So much has changed since the formation of PCNs at the beginning of last year in terms of availability of funding and staff and the governance of how we run our networks. As a result, many partnerships, practices, and networks are reconsidering their financial models and specifically, whether incorporation could prove more lucrative in the long run. This week’s podcast features our (almost) resident financial expert, James Gransby, Partner at RSM, who has waded through the reams of guidance and jargon to explain in simple terms what the pros and cons of PCN incorporation are likely to be; what are our options, what we need to watch out for and where the hidden benefits may lie.

Introduction (0:36)

What does incorporation mean and is this the direction of travel for PCNs? (0:55)

Why PCNs may choose to change their financial model at this stage (1:38)

VAT implications broadly (2:11)

Incorporation pros (3:17)

Setting up a PCN as a separate entity (4:19)

NHS pensions (5:07)

CQC registration (6:38)

What are the other governance obligations an incorporated body would have to meet? 7:02)

VAT and staffing setup (8:11)

Tax benefits? (9:26)

Impact and Investment Fund monies (10:49)

Should a PCN incorporate itself or use a local, already incorporated, federation? (11:28)

Will overall funding increases lead to a greater number of limited companies? (12:33)

A PCN in the open market… (14:08)

…versus as an NHS organisation (14:55)

GP practices and incorporation (15:36)

PMS agreements and GMS contracts (18:12)

Getting in touch (18:58)

James is contactable via email at: james.gransby@rsmuk.com