69,750+ Filed Self Assessment Tax Returns

395+ Grown Businesses

25+ Years Of Experience

Swift Accountants

Tax Saving Guide 2024/25 with Swift Accountants

Your Trusted Partner for Expert Accounting and Compliance Services

"Building Your Financial Foundation with Precision."

Welcome to our 2024/25 Tax Saving Guide

Welcome to the Shorts Tax Saving Guide for the 2024/25 tax year. Below, we have summarised various tax-saving ideas and outlined tax risks to avoid that are particularly relevant to entrepreneurs and owner-managed businesses.

Feel free to scroll down this page to explore the various opportunities listed, or select a specific area of interest from the menu above.

Contents:

Part A

Tax Efficient Business Structures

1. Optimise Your Company/Group Structure
As businesses expand, they often accumulate diverse activities within a single company or establish multiple standalone companies for each separate activity. Both scenarios can lead to tax inefficiencies. Conducting a review can help establish the most tax-efficient structure for your business, considering the shareholders’ ultimate goals. Possible structures include:
 
  • Group Structure with a Holding Company: A holding company owns various subsidiaries, achieving legal separation of activities while retaining the tax benefits of operating within a corporate group.
  •  
  • Direct Shareholding: Shareholders hold individual companies directly rather than through a holding company, which can be more tax-efficient if an individual company may be sold.
2. Consider the Benefits of Having a Holding Company
A holding company is a separate parent entity created to own a controlling interest in one or more subsidiary companies. It typically does not trade itself; its primary purpose is to form a corporate group. Benefits include:
 
  • Ring-Fencing Key Assets: Protecting assets in the holding company from risks in other group companies.
  •  
  • Tax-Free Sales: Using the substantial shareholding exemption to potentially sell a subsidiary tax-free.
  •  
  • Centralised Management: Managing central resources and shared costs efficiently.
  •  
3. Incorporation – Consider Trading Through a Company
Operating through a company rather than as a sole trader or partnership can offer significant tax savings, enhanced asset protection, and easier access to funding. Sole trader businesses and partnerships can be less tax-efficient, especially if proprietors are not drawing all business profits. A thorough review can identify the tax and commercial advantages and disadvantages of incorporation.
4. Companies Holding Too Much Cash – Consider Separation
Tax legislation favours shares held in trading companies over investment companies. Shares in companies holding excess cash may not qualify for Business Asset Disposal Relief (BADR) or Business Property Relief (BPR), particularly if the cash is used for investment purposes. Separating investment and trading activities can preserve and optimise these reliefs through techniques such as demergers or share transfers to separate investment companies. Benefits include better investment returns, protection of investment assets, and creation of an investment fund for new business ventures or family wealth planning.

Part B

Tax Planning for Companies

5. Claim R&D Tax Relief
R&D tax relief allows companies to claim significant tax savings for innovative activities. To qualify, a company must be attempting to advance or appreciably improve a product or process within their field of science or technology, not merely advancing their own knowledge or capability. Eligible activities include:
  •  
  • Creating or improving a product
  •  
  • Developing new industry software
  •  
  • Modifying manufacturing processes
  •  
Eligible companies can reduce taxable profits or create tax losses for cash repayments from HMRC. From accounting periods beginning on or after 1 April 2024, the merged RDEC scheme replaces the SME R&D scheme, offering substantial tax savings based on Corporation Tax rates.
6. Patent Box Relief – Lower Tax Rates for Patents
Patent Box Relief rewards UK companies driving innovation and developing patented inventions. If a company generates income from patented products or processes, it could benefit from a lower effective Corporation Tax rate of 10% on profits derived from those patents, a 60% reduction from the standard rate.
7. VAT – Ensure You Are Getting It Right
Mistakes with VAT are common. We offer a mock HMRC VAT visit (health check) to ensure your business remains compliant, highlighting potential VAT issues to prevent major future problems, especially during HMRC inspections.
8. Capital Allowances – Tax Relief on Depreciation of Assets and Equipment
Capital Allowances provide tax relief on the depreciation of assets and equipment. Maximising these allowances and carefully timing future expenditures can optimise tax savings. Utilise the Annual Investment Allowance (AIA) for full tax relief on up to £1m spent on assets and equipment. Expenditure on property acquisition, upgrading, or fitting out should be thoroughly reviewed to maximise potential claims.
9. Additional Relief for Capital Expenditure
Companies can benefit from full tax relief on capital expenditure, allowing a deduction of 100% of qualifying plant and machinery costs, offering up to 25% tax savings. Special rate assets, typically integral features within buildings, qualify for a 50% claim in the year of expenditure, providing up to 12.5% tax relief.
10. Optimise Use of Losses
There are various ways to relieve tax losses, depending on the activity and timing. Companies have greater flexibility in offsetting losses, especially within groups. In some cases, losses can be surrendered for a cash payment rather than offsetting against future profits. Proper timing and strategy are essential to maximise efficiency.
11. Increased HMRC Crackdown on Fraud & Avoidance
HMRC is intensifying efforts to reduce aggressive tax avoidance and evasion, utilising sophisticated data analysis. With increased staffing levels aimed at recovering over £6bn in tax, businesses must ensure full compliance to avoid liabilities, interest, and penalties. We offer a fee protection service to cover professional costs associated with HMRC enquiries.
12. Employer Tax Compliance – Get It Right
HMRC’s advanced tools can identify tax errors made by companies, particularly with PAYE reporting. Common issues include company cars and fuel provided to users, which can lead to employer compliance and VAT errors. We can conduct a mock HMRC PAYE visit (health check) to ensure full compliance.
13. Off-Payroll Working Rules (IR35)
Since 6 April 2021, private sector employers hiring individuals through their own Personal Service Company must determine the worker’s tax status and ensure proper payroll placement. Incorrect determination can lead to HMRC investigations and tax adjustments. We can assist employers in correctly assessing workers’ tax status to mitigate risks.
14. Ensure You Get the Right Workers on the Payroll
HMRC is scrutinising the classification of workers, particularly subcontractors. Misclassification can result in significant penalties. We can perform compliance tests to identify and rectify any issues in advance, reducing the likelihood of HMRC challenges.
15. Reinvest Proceeds on Sale of Business Assets to Defer Gains
Reinvesting proceeds from the sale of business assets into replacement assets can sometimes defer Capital Gains Tax (CGT) until the replacement asset is sold, reducing immediate Corporation Tax liabilities.

Part C

Buying or Selling a Business

16. Business Asset Disposal Relief – Claim a Reduced Rate of Tax on Selling Your Business
Business Asset Disposal Relief (BADR) can reduce the Capital Gains Tax (CGT) payable by company shareholders on the disposal of their shares. It also applies to the sale of sole trades or partnership shares. A thorough review ensures both the business and individual qualify for the relief, maximising planning opportunities.
17. Preparing a Business for Sale – Optimising the Tax Position and Sale Proceeds
Before selling a business, we can help owners take steps to achieve the most tax-efficient sale, maximising returns. This may include extracting assets to retain, restructuring the business to optimise sale proceeds, and ensuring no tax issues that could prompt a buyer to negotiate a price reduction.
18. Family Buy-Out – Tax Efficient Cash Extraction Whilst Passing the Business to the Next Generation
A Family Buy-Out allows family shareholders to sell the business to their children at market value, enabling parents to cash in their shares while ensuring the business is passed to the next generation.
19. MBO (Management Buyout) or MBI (Management Buy-In)
Business owners looking to cash in on their shares may consider a Management Buyout (MBO), selling to management rather than a third party. This can be more tax-efficient, using BADR rather than paying higher taxes on future earnings. A Management Buy-In (MBI) involves new management buying into the business for similar reasons.
20. Sell Shares Back to the Company via a Company Purchase of Own Shares (CPOS)
If a shareholder wishes to sell their shares but remaining shareholders lack the funds, the company can buy back the shares through a CPOS. Subject to conditions, a CPOS can be treated as a capital receipt, subject to CGT at a 10% rate using BADR. This allows tax-efficient exit strategies for shareholders wishing to retire or due to disagreements.
21. Leave Cash in the Business in Advance of a Sale
Prior to a sale, minimising cash extraction can build a larger cash balance, potentially increasing the sale price. The tax paid on increased sales proceeds may be less than on dividends or salary. Careful planning ensures valuable reliefs like BADR are preserved.
22. Consider Selling a Subsidiary Tax-Free and Reinvesting the Proceeds
Using the Substantial Shareholding Exemption, a group of companies can sometimes sell a subsidiary without tax charges on the gain. The tax-free proceeds can then be reinvested in other activities.
23. Sell Tax-Free to an Employee Ownership Trust (EOT)
Alternatively to an MBO, MBI, or CPOS, shareholders might sell their shares to an Employee Ownership Trust (EOT). Selling over 50% of the company to an EOT can be CGT-free. An EOT benefits all employees, allowing the company to award tax-free bonuses of up to £3,600 per annum.
24. Optimise the Tax Position in Companies to Be Acquired
When acquiring a company, we conduct due diligence to identify inherent tax risks and advise on optimising the tax position when integrating the new company into your existing business.
25. Incentivise Staff to Optimise the Sale Price
Retaining and incentivising key employees can maximise business performance and align their interests with shareholders, optimising the eventual sale price. This can be achieved through share options and other incentives before a sale.
26. Should I Buy/Sell the Company or the Trade and Assets?
When buying or selling a business, consider whether to transact in company shares or just the trade and assets. Share transactions transfer all assets and liabilities, while asset sales allow selective acquisition. Seek advice on the best route and understand the pros and cons of each option.
27. Reduce Tax Liabilities on Sale by Tax Efficient Reinvestment
Tax liabilities from selling company shares can sometimes be reduced by reinvesting proceeds into qualifying investments like Enterprise Investment Scheme (EIS) shares.
28. Succession Planning for Family Businesses
Family businesses risk unsustainability without a succession strategy. Options include passing the business to family members, the management team, a third party, or an EOT. We assist business owners in exploring the best options for their family and business.
29. Tax Efficient Use of Sale Proceeds
Shareholders receiving proceeds from a business sale should consider Inheritance Tax (IHT) exposure and strategies for passing proceeds to family members, trusts, or investing in pensions and other investments. A comprehensive estate planning and wealth management review is recommended for future retirement planning.

Part D

Tax Efficient Pay and Rewards

30. Employee Reward Packages
Incentives such as bonuses, non-cash benefits, and pension contributions are effective for rewarding and motivating staff. Tax-efficient benefits include mobile phones, childcare vouchers, and pension salary exchange arrangements. Additionally, trivial benefits like non-cash vouchers up to £50 can be provided tax-free, provided they are not service rewards.
31. EMI Scheme – Promise Future Shares for Employees Dependent on Performance
The Enterprise Management Incentive (EMI) scheme allows SMEs to offer key employees share options based on performance and other criteria, such as the company being sold. This motivates employees to stay and perform, enabling them to share in the company’s success in a tax-efficient manner.
32. Tax Efficient Cash Extraction for Business Owners
With combined Income Tax and National Insurance rates reaching up to 48%, it’s crucial to regularly review the most tax-efficient remuneration methods. Options include salary, dividends, benefits, rent, interest, and pension contributions, each with different tax implications. A review helps determine the optimal mix, considering potential rate changes.
33. CSOP (Company Share Option Plan) – Reward Employees with Equity Options
A Company Share Option Plan (CSOP) is a tax-advantaged discretionary share option plan allowing companies to grant share options up to £60,000 to any employee or full-time director. Unlike the EMI scheme, CSOPs have no limits on company size or number of employees, making them suitable for larger or listed companies and those excluded from EMI schemes, such as property developers.
34. Dividends vs Salary
Traditionally, shareholders have found it more tax-efficient to take a small salary and maximise dividends. However, changes in rates during 2023, twice in 2024, and from April 2025 may affect this strategy. Various factors must be considered, so seeking professional advice is essential.
35. Receive Rents from the Business
Charging the company rent for assets like properties is another tax-efficient way to extract cash. Professional advice is recommended to understand potential consequences and ensure compliance.
36. Directors’ Loan Accounts – Opportunities and Risks
Interest payments made by the company to directors on outstanding loans can be a tax-efficient extraction method. However, loans remaining outstanding 9 months and 1 day after the end of an accounting period can trigger a 33.75% tax charge. Careful planning can avoid this. Directors’ loan accounts can also facilitate short-term fund extraction prior to a sale.
37. Pensions – Use Tax-Free Contributions to Reduce Corporation Tax
Contributions to director and staff pension schemes are highly tax-efficient, largely tax-free for the pension scheme and tax-deductible for the company. Contributions can fully utilise a director’s annual pension allowance and any unused allowances from previous years. Additionally, pension contributions can accumulate funds to acquire commercial property.

Part E

Inheritance Tax & Retirement

38. You Absolutely Must Have a Will
Dying without a valid Will means your estate is distributed according to intestacy rules, which may not reflect your wishes. Creating a Will ensures your estate is distributed according to your preferences. Professional advice is recommended to ensure your Will is legally valid and tax-effective. We offer in-house Will preparation services.
39. Freezer Shares – Mitigating IHT on Future Business Growth
Converting existing company shares into “freezer shares” can freeze the current business value, issuing new shares to capture future growth. These new shares can be transferred to family members or trusts, removing their future value from the existing shareholders’ estates for IHT purposes.
40. Business Property Relief (BPR) – Business Asset Relief from IHT
Business Property Relief (BPR) partially or fully exempts certain trading businesses and assets from IHT. Conditions must be met to claim BPR, and mixed trading and investment activities may reduce the available relief. Company restructuring can help maintain and optimise BPR eligibility.
41. Hybrid Structures – FIC and Trusts Combined
Combining a Family Investment Company (FIC) with trusts holding some shares can enhance flexibility and tax efficiency for multi-generational estate planning, serving as a powerful tool in family wealth and tax planning.
42. Preference Share Inheritance Tax Planning
Converting a loan owed to a director into preference shares can attract BPR, relieving the value from IHT.
43. Using Lifetime Gifts to Family and Friends to Save IHT
Various statutory exemptions and allowances enable taxpayers to make gifts that mitigate IHT, including:
 
  • Regular Gifts: Out of surplus income, without needing to repay.
  • Annual Exemption: Up to £3,000 per year from capital.
  •  
  • Wedding Gifts: Varying amounts based on the relationship.
  •  
  • Small Gifts: Up to £250 per person, unlimited recipients.
  •  
While gifts surviving seven years are exempt from IHT, a comprehensive lifetime giving strategy is recommended to avoid pitfalls and maximise benefits.
44. Family Investment Company (FIC)
A Family Investment Company (FIC) is a bespoke vehicle, alternative to a family trust, allowing parents to retain control over assets while accumulating wealth tax-efficiently and facilitating future succession planning.
45. Review IHT Planning Using Pensions
Pensions have been a tax-efficient tool for IHT, potentially exempt on death. However, this relief is set to be removed from April 2027. Individuals with significant pension values intended for family inheritance should review their IHT planning and income.
46. Using Trusts to Protect Your Assets and Save IHT
Transferring assets to a trust removes them from your estate for IHT purposes. Trustees manage the trust, and the settlor can stipulate asset usage, maintaining control even after death. Trusts are useful for managing inheritance for children, protecting family assets, and controlling asset distribution.

Part F

Tax Issues for Property Owners

47. Buy-to-Let Properties – Restriction on Mortgage Interest Relief
From April 2020, tax relief on finance costs for residential property income is limited to 20% for individuals. This change can significantly impact landlords’ tax positions, potentially shifting basic rate taxpayers into higher tax brackets. We can assist in planning to mitigate these changes’ future impact.
48. Property Incorporation – Is It Worth It?
Holding property investments within a company may be more tax-efficient, especially with significant interest on borrowings. Transferring existing properties into a company can have Capital Gains Tax and Stamp Duty Land Tax implications, so professional advice is essential.
49. Main Residence Election When You Have More Than One Home
An individual’s main residence is typically exempt from CGT. If owning multiple homes, an election within two years of acquiring the later property can designate which is treated as the main residence, mitigating potential future CGT liabilities.
50. VAT on Anything to Do with Properties Is Complex
Property investment businesses with both residential and commercial properties may be partially exempt from VAT, requiring complex calculations. Separating ownership of commercial from residential property can simplify VAT obligations. Additionally, VAT considerations are crucial in commercial property transactions, potentially adding 20% to the consideration. Detailed VAT advice is recommended to minimise liabilities and complications.
51. Stamp Duty Land Tax (SDLT) on Second Properties
An additional 5% SDLT surcharge applies when purchasing a new residential property if it results in owning more than one property. Professional advice is recommended to determine if the surcharge applies and how to mitigate it.
52. Don’t Pay Too Much Stamp Duty Land Tax (SDLT)
Residential property SDLT rates are higher than non-residential, especially with the additional surcharge or high-value purchases. When buying multiple dwellings or mixed-use property, consider if lower rates apply to avoid overpaying SDLT.
53. Land Remediation Relief (LRR) – Tax Relief for Tidying Up a Site
Land Remediation Relief (LRR) offers significant tax relief on qualifying expenditure for cleaning up contaminated land or restoring long-term derelict land. This can provide substantial additional tax savings for companies undertaking such activities.
54. Commercial Property in Pensions
Holding commercial property within a pension scheme allows properties to grow tax-free within the fund, and rental income is non-taxable. This is especially tax-efficient when a related business is the tenant, as rent payments can qualify for tax relief without affecting personal pension contribution limits.
55. Property Development – Structures
Property developers often use Special Purpose Vehicle (SPV) companies to ring-fence specific developments. Upon liquidation, funds extracted are subject to a 10% CGT rate. However, anti-avoidance legislation may deny this rate in certain circumstances, particularly with multiple SPVs. Using a group structure can mitigate these risks for developers involved in various projects. Professional advice is crucial before commencing property development to ensure optimal tax efficiency.

Part G

Tax Efficient Investments

56. Personal Pension Contributions
Individuals receive Income Tax relief on contributions to personal pension schemes, making them an effective way to reduce Income Tax liabilities. Annual contribution limits apply (currently £60k, reducing when income exceeds £200k). Unused allowances from previous years can sometimes be carried forward. Given the complexity of tax rules, professional advice is essential.
57. Pension Contributions for Children
Parents can make modest annual contributions to children’s pensions, benefiting from 20% tax relief, thereby increasing the pension pot significantly by retirement age.
58. Maximising ISA Limits
Income and capital gains within Individual Savings Accounts (ISAs) are tax-free, making ISAs a valuable tool for tax planning. However, annual contribution limits must be adhered to.
59. Venture Capital Trust (VCT)
Investing in Venture Capital Trusts (VCTs) offers 30% Income Tax relief on investments up to £200,000. Dividend income from qualifying VCT investments is tax-free. A minimum holding period of five years is required, and selling within this period may result in HMRC clawing back the tax relief.
60. Enterprise Investment Scheme (EIS)
Qualifying EIS investments attract 30% Income Tax relief on amounts invested up to £1m. Profits from EIS investments are tax-free if held for at least three years, and after two years, the investment is exempt from IHT. Reinvesting gains from asset disposals into EIS can defer CGT liabilities, provided conditions are met.
61. Seed Enterprise Investment Scheme (SEIS)
SEIS offers similar benefits to EIS, with Income Tax relief at 50% on investments up to £200,000. Reinvesting gains into SEIS can exempt up to 50% of the gain from CGT upon asset disposal, enhancing tax efficiency.
62. Investors' Relief (IR)

Investors’ Relief (IR) extends Business Asset Disposal Relief (BADR) for investors in unlisted trading companies. Gains on qualifying shares attract a lower CGT rate after a minimum holding period of three years. IR has a £1m lifetime cap, in addition to the BADR cap, and is unavailable to directors or employees, with certain exemptions for business angel investors.

Part H

International Tax Issues

63. Overseas Tax Issues Can Apply Irrespective of the Scale of Operations
As businesses expand internationally, they may face taxation from foreign authorities once deemed to have a Permanent Establishment (PE) in another jurisdiction. Definitions of PE vary by country, so seeking local advice is essential to understand tax liabilities and obligations. We coordinate with partner firms in Praxity Global Alliance, a leading professional services network in over 120 countries.
64. Tax Domicile – Taxpayers Not Originally from the UK
Domicile refers to a taxpayer’s original home country. Changes to domicile rules in April 2017 may deem long-term UK residents from non-UK domiciles as UK domiciled, significantly affecting their tax position. These rules will change in April 2025, making it crucial for non-UK domiciled taxpayers to annually check their status and seek relevant advice.
65. Global Mobility – Employee Movement
Employees working abroad or moving to the UK can create complex tax implications both domestically and internationally. UK companies may need to report and pay payroll taxes overseas. Advice is essential for managing internationally mobile workers’ tax obligations.
66. Tax Residency – Tax Implications of Where You Live
Changing tax residency can effectively reduce UK tax liabilities, but also introduces potential liabilities in the new country. This significant personal step requires meeting legislative conditions to avoid re-taxation upon returning to the UK. Monitoring days spent in the UK is crucial to maintain non-residency status. Tax residency rules vary by country, so early advice is vital to prevent complications.

Part I

Tax for Individuals & Families

67. Personal Allowances – Avoid Losing Them
The Personal Allowance is the amount of income an individual can earn tax-free annually. However, it reduces by £1 for every £2 earned over £100,000, potentially leading to an effective tax rate of up to 60%. Individuals earning over £100,000 should seek advice to preserve their Personal Allowance through strategies like pension contributions, gift aid donations, or alternative income methods.
68. Preserve Entitlement to Child Benefit
Child Benefit is reduced when a parent’s income exceeds £60,000 and entirely lost at £80,000. Ensuring at least one parent’s income stays below £60,000 preserves Child Benefit. Additionally, claiming Child Benefit can grant a full year’s credit towards State Pension eligibility, benefiting parents with low or no earnings.
69. Spreading Assets & Income Around the Family
Married couples can benefit from joint ownership of assets to maximise the use of lower rate Income Tax and Capital Gains Tax bands, Personal Allowances, and other exemptions. This principle can extend to children, though care must be taken to comply with rules that prevent parents from being taxed on children’s income.
70. Capital Gains Tax – Profits and Losses on Asset Disposals
Capital losses from selling assets at a loss offset capital gains from profitable sales within the same tax year. If gains are below the Capital Gains Tax Annual Exemption, losses may be wasted, highlighting the need for advance tax planning before transactions.
71. Tax Efficient Funding of Education Costs
Family business owners often pay education costs from high-tax income. Providing tax-free income to grandchildren or adult children (18+) can finance education fees and other costs efficiently, reducing overall tax liabilities.

Free Enquiries, Priceless Results – Let’s Change Your Business Together

We Listen, We Understand, We Deliver & You Grow
Please enable JavaScript in your browser to complete this form.

Accounting Simplified, Success Amplified

"Free Expert Consultations – Because Your Success Matters"

Full Name
If Applicable

Real Client Testimonials

Our Proven Process

Partnering for Your Success

At Swift Accountants, we believe that a strong partnership begins with a clear and transparent process. Our goal is to make your experience seamless, reassuring, and results-driven. Here's how we work with you to deliver exceptional accounting services that empower your business.

Initial Consultation

We start by getting to know you and your business intimately. Discovering Your Vision And Identifying Opportunities. Our team analyses your current financial situation to uncover areas where we can add significant value.
Direction Arrows
Step 1

Customised Proposal and Egagement

Based on our initial consultation, we develop a bespoke package of services that align perfectly with your needs. We believe in honesty and clarity when it comes to fees. We finalise our agreement to begin our journey together.
Direction Arrows
Step 2

Seamless Onboarding and Setup

We handle the heavy lifting to get everything set up quickly and accurately. Integrate your financial data into our advanced accounting platforms. We introduce you to the professionals who will be working closely with you.
Direction Arrows
Step 3

Ongoing Support and Proactive Communication

We schedule consistent updates to keep you informed and ahead of the curve. Our experts don't wait for issues to arise—we anticipate them. We're always here when you need us.
Step 4

How We can Support Your Business?

Starting a Business

Embarking on a new venture is both exciting and daunting. We assist entrepreneurs in: Business Planning, Legal Structure Advice, Regulatory Compliance, Financial Setup.
Read More

Acquiring a Business

Purchasing an existing business can accelerate your entrepreneurial journey. We help you with: Due Diligence, Valuation Services, Negotiation Support, Integration Planning.
Read More

Growing Your Business

Scaling your business requires strategic planning and effective execution. Our expertise includes: Strategic Growth Planning, Financial Management, Raising Capital, International Expansion.
Read More

Succession Planning

Preparing for the future leadership of your company is crucial. We offer: Leadership Development, Ownership Transition, Tax-Efficient Strategies, Business Valuation.
Read More

Exiting a Business

When it's time to move on, we guide you through: Exit Strategy Development, Financial Planning, Legal Compliance, Emotional Support.
Read More

Selling Your Business

Achieve the best possible outcome with our support in: Market Positioning, Buyer Identification, Deal Negotiation, Transaction Management.
Read More

"We Care, You Prosper"

Frequently Asked Questions

FAQs - Frequently Asked Questions

  • 1. What accounting services do you offer for construction companies?
    We offer a comprehensive range of services including job costing, tax planning and preparation, financial reporting, compliance management, payroll services, business consulting, cash flow management, risk management, project financing assistance, cost control, digital accounting solutions, invoicing, receivables management, and subcontractor management to support your construction business from inception to growth.
  • 2. How can Swift Accountants help with tax obligations for construction companies?
    Our experts ensure that you meet all your tax obligations by handling the preparation and submission of Corporation Tax returns accurately and on time. We also provide strategic tax planning to maximise allowable deductions and minimise liabilities, ensuring compliance with the latest tax laws specific to the construction industry.
  • 3. What makes Swift Accountants different from other accounting firms for construction companies?
    Our specialised expertise in the construction industry, personalised service, proactive approach, transparent communication, cutting-edge technology, and comprehensive service offerings set us apart. We prioritise building long-term relationships and providing proactive financial solutions tailored to your construction business’s needs.
  • 4. Do you provide services for specific niches within the construction industry?
    Yes, while we serve a broad range of construction businesses, our team has specialised knowledge in niches such as residential construction, commercial building, infrastructure projects, renovation and restoration, and sustainable construction. This allows us to offer industry-specific insights and solutions tailored to your specific niche.
  • 5. How do your pricing models work for construction companies?
    We offer flexible pricing options tailored to the size and needs of your construction business. Whether you require ongoing support or specific services, we provide transparent pricing to ensure you receive the best value without hidden costs.
  • 6. How can I get started with Swift Accountants for my construction business?
    Getting started is easy! Simply contact us through our contact page or call us directly to schedule your initial consultation. We'll discuss your needs and outline how we can assist in managing your construction business effectively.
  • 7. Can you assist with payroll management for construction companies?
    Absolutely. Swift Accountants provides efficient payroll management services tailored to handle wages, benefits, and compliance with PAYE obligations for your construction workforce, ensuring timely and accurate payments.
  • 8. How do you manage cash flow for construction businesses?
    We provide comprehensive cash flow management services, including real-time monitoring, budgeting, and forecasting, to ensure your construction business maintains sufficient liquidity to support its operations and project initiatives.
  • 9. What risk management services do you offer for construction companies?
    Our risk management services include identifying potential financial and operational risks related to construction projects, advising on mitigation strategies, and implementing processes to protect your business and personal assets from unforeseen challenges.
  • 10. Can Swift Accountants help me plan for the future growth of my construction business?
    Yes, we can. Swift Accountants offers strategic business consulting, financial forecasting, and growth planning services to help you scale your construction business efficiently and sustainably, ensuring long-term success and profitability.
× Chat live to an accountant