Construction and Property

Construction companies can very easily generate accounting profits, on which tax will be due, whilst cashflow remains tight. By the nature of the work done, profits may not equate into cash until the end of a project but without consideration of work in progress valuations, you could need to pay tax earlier. And don't forget that you will need to report your trading performance to HMRC annually, which will reuqire accounts and a tax return.

Yes, we can advise on whether you should strcuture your business in a limited company or as an unincorproated entity. A limited company can provide an extra layer of legal protection, but be careful to undersand the extent of this protection and the additional costs involved with opperating a company. Take time to ask questions and fully understand this crucial area of business ownership.

Our Partners will be your main point of contact, responsible for your affairs and getting to know you and your business. Unlike other local firms with a similar approach, though, our Partners have access to our teams of tax specialists. Maybe you have a complex enquiry on SDLT or VAT. Or maybe you want to strucure your properties with inheritance tax in mind, our Partners are supported by experts in their field whilst still providing the personal service you expect from Lovewell Blake.