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Building & Construction

Friend & Grant Chartered Accountants have been helping small and medium sized businesses in the Medway towns and North Kent for over 20 years

23rd November 2023
Autumn Statement 2023 Key Points Friend & Grant Accountants

Autumn Statement 2023: Key Points

Yesterday, Chancellor Jeremy Hunt presented his second Autumn Statement, but with a very different tone to the gloomy announcements made this time last year. The Chancellor announced initiatives with a massive focus on pushing growth in the economy. The main question you’ll all no doubt have is… “how does it affect me?”, let’s take a look…

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27th July 2023
Master the Property Construction & Development World Unlock the VAT Advantage Friend & Grant Property Accountants

Unlocking the VAT Advantage in the Property Construction & Development World

We take a look at the ins and outs of VAT in the property & construction world with examples and tips to help you maximise your reclaims, steer clear or unexpected bills and make your property ventures a breeze.

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20th June 2023
Protection Insurance Options & Protecting Your Future Friend & Grant Accountants

Protection Insurance Options & Protecting Your Future

Protection insurance is key to protecting your future. Are you aware of the options available to you and are you certain there are no loopholes of gaps in your cover? We explore the differences between Life Cover, Critical illness cover and income protection and the benefits of seeking guidance from an independent financial advisor can help you to ensure you have sufficient cover.

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11th May 2023
Asbestos Contamination When disaster strike there’s always tax relief Land Remediation Friend & Grant Accountants

Asbestos? Contamination? When a disaster strikes there’s always tax relief!

Finding any sort of contamination on your property can easily burn a hole in your pocket, but this valuable tax relief may help you recover some of your money!

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4th May 2023
Should I put my investment property into a limited company Friend & Grant Accountants

Should I put my investment property into a limited company?

Property investors are often keen to understand the options for structuring their portfolio. Is a limited company the best option? We look at some of the advantages of using a limited company or a special purpose vehicle for your investment portfolio.

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20th April 2023
The Pros & Cons of Setting Up a Group Structure Friend & Grant Property & Construction Accountants

The pros and cons of setting up a group structure

Group structures are not just for large companies, they can be used very effectively for smaller owner managed businesses to save tax and de-risk their assets.

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30th March 2023
Five interesting VAT rules you may not know Friend & Grant Accountants

Five interesting VAT rules you may not know

Sometimes the rules regarding VAT are not quite what you expect! Here we go into detail on 5 VAT rules that you may not have known existed.

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23rd February 2023
VAT Review & Health Check Friend & Grant Accountants

Do you need a VAT health check?

Ever wondered if you are declaring the correct amount of VAT on your sales invoices? Or that what you are reclaiming on your purchases is the most that you can? We take a look at why a VAT health check could be a good thing for your business.

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12th January 2023
Want to build a successful business Friend & Grant Accountants

Want to build a successful business?

What does it take to build a successful business? We look at one of the most fundamental requirements- the right mindset.

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9th January 2023
Are you hitting your business brick wall Friend & Grant Accountants

Are you Hitting your Business Brick Wall?

There are many challenges to running your own business. Find out which ones we’ve come across and how we’ve overcome them.

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22nd December 2022
5 Invoicing Tips to Get Paid Faster by your Customers Friend & Grant Accountants Cloud accouting experts

5 Invoicing Tips To Get Paid Faster By Your Customers

We look at how effective invoicing and how automated systems can help you to get paid faster by your customers.

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1st November 2022
property investors CIS Friend & Grant Accountants

Property Investors – A word of warning!

Property investors often fail to realise that they have a duty to register under CIS if they carry out certain activities. Failure to register could be costly as it is likely to result in significant penalties being levied for non-compliance.

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25th October 2022
What to do if your subcontractor or consultant disputes your decision to assess them under CIS Friend & Grant Accountants

What to do if your subcontractor or consultant disputes your decision to assess them under CIS

What do you do if your subcontractor or professional disagrees with your treatment of their income under CIS? You have basically three actions you can take.

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20th October 2022
Professionals in the Construction Industry – Do I Need to Deduct CIS? Friend & Grant Accountants

Professionals in the Construction Industry – Do I Need to Deduct CIS?

If you carry out any sort of building works on a property and engage labour you have to be wary of the rules under the construction industry scheme where tax has to be potentially stopped on the labour element of the service provided. Professionals are often consider exempt from CIS- but is this right? The answer unsurprisingly is not always!

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11th October 2022
How You Can Reclaim VAT When Building Your Own Home - The DIY Housebuilders Scheme Friend & Grant Accountants

How You Can Reclaim VAT When Building Your Own Home - The DIY Housebuilders Scheme

For many people building their perfect home is just a dream. However over recent years we are seeing more and more cases of individuals looking to do just that. To ensure that individuals enjoy the same VAT advantages as professional builders check out the DIY Housebuilders Scheme.

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20th September 2022
man standing near dock

How much time should I spend building my business?

Are you building your own business or looking to climb the corporate ladder? How many hours should you work? Is a four hour work week possible? If not what is realistic for success?

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3rd August 2022
Research & Development claims R&D Friend & Grant Accountants

R&D claims - Free money or is there a sting in the tail?

Free money!! Every company director loves a tax rebate, particularly when you have incurred expenditure on a project and someone tells you that not only is this expenditure tax deductible but for the same money spent you can get additional tax relief of 130% on the expenditure and either get a lovely big tax rebate by trading in losses at 14.5% or reduce your tax liabilities down significantly.

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15th June 2022
Increase your property value and reduce costs with eco-friendly solutions and save VAT! Energy Savings Materials ESM Friend & Grant Accountants

Increase your property value and reduce costs with eco-friendly solutions and save VAT!

With energy costs going through the roof it could make sense to make small eco-friendly improvements to your property which can reduce running costs and also add value to your property.

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21st March 2022
Get your oar out! A key business lesson to help grow your business Friend & Grant Accountants

Get your oar out! A key business lesson to help grow your business

Having run an accountancy practice for almost 30 years I have had the good fortune to meet literally thousands of business owners. Many have created great companies but many others have unfortunately failed. Reasons given for failure are numerous. Many are genuine such as Covid or an unforeseen bad debt resulting in severe cashflow problems. Most however are due to a basic misunderstanding of what is required to create a successful business.

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28th February 2022
Don't ignore health and safety compliance- £.2.5m of fines in December 2021 alone! friend & Grant Accountants

Don't ignore health and safety compliance- £.2.5m of fines in December 2021 alone!

The pandemic has had a dramatic effect on all our lives over the last two years. Businesses have had to adapt quickly to a changing environment. One area that may have been overlooked is the need to review your health and safety compliance.

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21st January 2022
Is property still a good investment? Friend & Grant Accountants

Is property still a good investment?

Owning your own property is part of the culture in the UK with over 65.1% of houses owned by the households in 2019. Surprisingly, whilst we are ahead of countries like Germany and France, most European countries have extremely high levels of ownership (Italy 72.3%, Greece 75.4%, Poland 84.2%). So why the disparity? In simple terms the reason is the property rental market. In 2020 the share of households occupied by private renters hit 18.7%, so around 4.44 million households were privately rented in England in 2020.

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20th May 2021
What is the new super-deduction for investment in equipment? Friend & Grant Accountants

What is the new super-deduction for investment in equipment?

The new super deduction will run for two years from 1 April 2021 and is a radical new “super-deduction” of 130% for investment in new plant.

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5th March 2021
Build Your Marketing Machine in 7 Steps - chaos for the construction industry. VAT domestic reverse charge Friend & Grant Accountants

VAT domestic reverse charge- chaos for the construction industry.

The long delayed VAT Domestic Reverse Charge for the Construction Industry was finally introduced on 1st March 2021.

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12th November 2020
What is the flat rate scheme for VAT? Friend & Grant Accountants

What is the flat rate scheme for VAT?

The flat rate scheme was first introduced in the 2002 budget and is a simple way for small businesses to account for VAT on their supplies.

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11th November 2020
Looking to set up in business? Want to increase the odds of success? Business Programme Friend & Grant Accountants

Looking to set up in business? Want to increase the odds of success?

If building a business was so simple then why do almost half of businesses which set up fail within the first 5 years? Construction is even worse with 2 out of every 3 startups failing in the first 5 years! It isn’t the lack of cash but this is often the nail in the coffin. It all started on day 1 with the failure of the business owner to understand what is really involved in becoming a successful business owner.

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19th August 2020
Property Investor & Developer Business Program Friend & Grant Accountants Green Homes Grant

Property owners can benefit from the Green Homes Grant – but what is it?

If you're looking to make energy-efficient improvements, these grants may help!

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23rd July 2020
What is factoring? Friend & Grant Accountants

What is factoring?

Need finance to cope with your business growth? Have you considered factoring? If not then please read our article which looks at what is factoring and 8 key points to consider when choosing a factor.

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3rd July 2020
Warning! Doing works on a property? You might need to operate a Construction Industry (CIS) scheme. Friend & Grant Accountants

Warning! Doing works on a property? You might need to operate a Construction Industry (CIS) scheme.

The construction industry scheme is designed to stop tax on invoices raised by the self employed or limited companies (called subcontractors) who provide labour within the construction industry to businesses which are also within the construction industry (called contractors).

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10th February 2020
Construction Industry Pitfall Number 4: All About The Tax Friend & Grant Property Accountants

Construction Industry Pitfall Number 4: All About The Tax

Poor book-keeping alone doesn’t usually bring a business down. Usually the accountant will step in to clean the books up and calculate the company’s tax liabilities with time to spare. But it’s different for construction, primarily due to CIS.

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22nd January 2020
Will Proposed Changes to Off-Payroll Working Rules Affect You? Friend & Grant Accountants

Will Proposed Changes to Off-Payroll Working Rules Affect You?

The off-payroll working rules, known as IR35, were introduced in 2000 to ensure that individuals who work like an employee, but through an intermediary such as a company, pays similar taxes to other employees. Important changes are being introduced in April 2020. There has been a lot of press recently (and most of it negative) stating how many businesses are going to be badly impacted by the changes.

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16th January 2020
Construction Industry Pitfall Number 3: Cash Is King Friend & Grant Accountants Cashflow

Construction Industry Pitfall Number 3: Cash Is King

Over the past 30 years we’ve worked with countless small and medium sized building and construction businesses. Many have flourished but unfortunately some have failed…. And cash flow is one issue which comes up time and time again.

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8th January 2020
Next Steps re VAT Domestic Reverse Charge for the Construction Industry Friend & Grant Accountants

Construction Industry Pitfall Number 2: Construction Failures are on the Increase- How Can I Protect my Business?

Unfortunately failures in construction are common place. In 2018 Carillion went down owing £7bn, bringing down countless other businesses. Sometimes it is impossible to avoid the collapse of a business.But there's actions you can take to reduce the risk

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2nd December 2019
Construction Industry Pitfall Number 1: Are Your Workers Genuinely Self Employed? Friend & Grant Accountants

Construction Industry Pitfall Number 1: Are Your Workers Genuinely Self Employed?

Are you really sure that your employees are self -employed? HMRC have a great toolkit to help you. If in doubt we can help

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15th November 2019
Next Steps re VAT Domestic Reverse Charge for the Construction Industry Friend & Grant Accountants

Next Steps re VAT Domestic Reverse Charge for the Construction Industry

The delay in the domestic reverse charge VAT for construction services was welcomed by many in the Construction industry as it has given affected businesses another year to prepare for the changes. The changes have been detailed by us in a previous blog and will have a major impact on the construction industry. Here’s our plan to ensure a smooth implementation of the changes.

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12th June 2019
Important VAT Changes to the Construction Industry - Do Not Ignore! Friend & Grant Accountants

Important VAT Changes to the Construction Industry - Do Not Ignore!

In the Government’s ongoing campaign to eliminate the effects of fraud, HMRC are bringing in new legislation from 1 October 2019 that will significantly affect the construction industry. This new legislation is the “Construction Reverse Charge”. The changes are major and if you provide labour in the construction industry then you will be impacted!

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byrant house at night office

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Are you hungry for success? If you run a small to medium size business and you want to grow your sales, increase profitability and pay less tax then you have come to the right place.