Blog Author:
Post Date:
Alright, career burnout. It’s no mystery, is it? It’s when you’ve worked yourself into the ground at your job. You graft away until there’s nothing left in the tank. Like a faulty kettle, you can’t even manage a flick of the switch to make a cuppa, never mind a whole day’s work. All you’re left with is a strong feeling of “can’t be bothered” and the desire to throw in the towel.
The dreaded burnout looks a bit like this…
Career burnout can happen for several reasons. Here’s the long and short of why you might be feeling like you’re going through the motions at work:
If you suspect you’re experiencing burnout, don’t just grin and bear it. See it as a chance to get to the bottom of things. Once you figure out why, you can make some proper changes that will get you back on your feet. Here’s a few things to get you started:
Right, that’s that sorted.
Don’t mess about with burnout any longer, you’ll end up feeling rotten. Figure out what’s nicked your joy at work, don’t be scared about changing things up, and always take care of yourself. Change might seem like a right palaver, but in this case, it’s for the best. You’ll be feeling as good as new again in no time!
Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb
Property development isn’t just about finding a top-quality location and watching the money roll in (hence why you’ve ended up here). It’s a complex investment game, and without the right finance in place, even the best-laid plans can crumble faster than a poorly built extension. Just like having to get the mix right and apply it correctly when building, you’ve got to do the research and find the right finance for the project when investing.
Finance is often the trickiest part of the process. You might have a solid vision, a great location, and a team of skilled professionals – but without funding, you’re stuck at square one. If I had £1 for every vision I’ve heard for a business or development I’d be a very rich man. Vision doesn’t pay the bills!
Let me break all of this down for you: why developers need finance, the challenges they face, and how to qualify for it.
Unless you’ve got a bottomless pit of cash lying around (and if you do, why are you reading this?), chances are you’ll need external funding. Here’s where that money goes:
Different projects require different solutions. Here’s a breakdown of common financing options and when to use them:
The right choice depends on your project stage, available funds, and repayment strategy. Mixing the wrong type of finance with the wrong project can cause serious problems down the line.
Lenders aren’t handing out money for fun – they want assurances. They will pick apart:
Even with funding in place, cash flow is a ballache. Late payments, unexpected costs, and market downturns can cause absolute havoc on finances. Smart developers keep contingency funds and secure multiple funding streams to stay afloat. A good rule of thumb is that you will always need more money than you think you will on a build.
Nothing kills a development faster than planning refusals or compliance issues. Legal fees and delays can drain your budget before the first brick is laid. Always factor in time and money for planning challenges. Hopefully with the changes to the planning rules that are coming shortly it should make the planning process smoother with fewer delays.
So, how do you convince lenders to loan you the money to get your project started? Follow these steps:
Your funding application should be watertight, including:
If your business (or personal) credit history is a mess, lenders will think twice. Pay down debts, settle outstanding liabilities, and ensure financial records are in order. Lenders aren’t going to be interested if you’ve still got an outstanding phone bill from 2014 – get it paid off.
How will you repay the loan? Whether it’s selling units, refinancing, or renting, lenders need to see a clear and realistic plan. After all they are not a charity and want to see their capital repaid AND the interest due on it.
Lenders need reassurance that their money will get repaid. Offering collateral (such as property or land) increases your chances of securing finance.
Property development finance is essential for most projects, but it’s not as simple as walking into a bank and asking for a loan. We all know the UK government doesn’t like to make these things easy for us. Understanding the challenges, preparing a strong case, and working with the right professionals can make the difference between a successful development and a living nightmare.
Do your homework, plan ahead, and keep your finances in check. And if you’re not sure where to start, get professional advice – before you find yourself knee-deep in a half-built project with no way to finish it.
Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb
Over December, my pipeline of urgent, large projects was shuffled around like the hokey cokey. Deadlines shifted, priorities changed, and what was meant to be a well-structured schedule turned into something far more fluid. Frustrating? Yes. Unexpected? Not really. It’s the reality of working in industries where moving parts – both figurative and literal – dictate progress.
For construction business owners and property developers, shifting project timelines are unavoidable. Fact. The weather doesn’t care about your deadlines (especially in Manchester), materials don’t always arrive on time, and like anything that needs a ‘thumbs up’ from the government, regulatory approvals rarely move as quickly as you’d like. The result? Delays, rescheduling, and, if you’re not prepared, a big financial ball ache.
In the construction and property development industry, no matter how well you plan, there will always be variables you can’t fully control. Here are a few of the main culprits:
When these issues hit, it’s not just a minor inconvenience. Shifting project timelines can lead to expensive problems:
So, how do you protect your business from the strain of an ever-shifting timeline?
While you can’t control the weather or force a supplier to deliver on time, you can put measures in place to reduce the impact of shifting schedules. Here are my suggestions:
Where possible, negotiate flexibility into your agreements. Can your contractors agree to a notice period for scheduling changes? Can you negotiate material supply terms that allow for adjusted delivery dates without unreasonable penalties? If you can get these terms in writing before you need them, you’ll save yourself a world of stress later.
Rather than running projects back-to-back, leave extra time in your schedule. This gives you breathing room when delays hit. Yes, it might mean slightly longer timelines overall, but it can prevent bottlenecks that turn into costly problems. Thank me later.
A well-managed cash flow ensures that when projects are delayed, you’re not left scrapping about to cover wages and overheads. Keep a financial buffer for these scenarios. The last thing you want is to be in a position where a couple of postponed jobs risk your entire business going down the sh*tter.
If a project is pushed back, can you reallocate workers or equipment to another site rather than letting them sit about like a goalie on the bench? Having a plan for alternative work ensures that downtime is minimised and costs are kept under control.
Good communication with clients, suppliers, and contractors can make all the difference. If you know a delay is likely, notify everyone involved as early as possible. Clients appreciate being kept in the loop, and contractors who know what’s happening can make arrangements rather than sitting around waiting.
Now, you might be thinking, “That’s all well and good for construction, but how does this apply to other industries?”
Well, the reality is that businesses in any industry – mine included – need to be prepared for shifting workloads and changing priorities. Here’s how I apply the same principles for Cloud Accountancy:
In the end, no industry is immune to moving timelines. But if you plan for them, rather than just react to them, you can keep your business running smoothly, no matter what sh*t gets thrown your way.
Much like watching Man City play, running a business requires adaptability. You can have the best strategy in place – your own version of Pep’s game plan – but unexpected challenges will always pop up. The key is to stay calm, make smart decisions under pressure, and ensure your business (or your team) stays on track for success. Simple as that.
If you need help putting those strategies into action, give me a shout. We can have a chat about how I can help you and your business prepare for project delays.
Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb
Let’s not beat around the bush, sorting out VAT isn’t anyone’s idea of a good time (even mine). I’m probably not supposed to admit that as an accountant but you know me, brutally honest. VAT can be long-winded, fiddly and for many busy construction and property business owners, a task that keeps getting shoved further down the priority list until something goes wrong. Funnily enough, that’s the point at which I’m normally called in.
When I’m approached, it’s normally one of two reasons. Either someone had a go at handling VAT themselves and got it wrong, or they trusted someone who wasn’t up to the job. As a result, these are just a few of the situations that my clients are left in:
Construction and property VAT is niche and complicated. A general accountant or bookkeeper might mean well, but “well” doesn’t cut it when HMRC is involved. You need a professional with a decent amount of experience, who knows the industry like the back of their hand and won’t shy away from a run in with the tax man.
That’s where I come in.
As I’ve mentioned already, finding a large VAT reclaim is slow, disciplined work. There’s no opportunity for cutting corners. The books need looking at closely, the records often need rebuilding, it’s essentially a long process of sorting out what’s what. Sometimes it’s just a minor tidy up, but more often than not it’s straightening out the books and getting on the phone to HMRC. The sooner this is dealt with the better.
The first step is getting the records in order. Given the industry, my clients are mainly blokes, so I’m working with incomplete or messy records most of the time (sorry lads, but it’s not our strong point). In an ideal situation, I wouldn’t have to try to pluck invoices and receipts out of thin air or use the bank statement to identify what has happened, but here I am.
Then I’ll review every transaction to make sure it’s been logged and handled correctly for VAT. It’s worse than watching paint dry sometimes to be honest, but someone’s got to do it.
Those that know me know that I’m a big fan of Quickbooks. Everything I need to get my clients straight is in one place. Cash flow, expenses, invoices, profit and loss – you name it. I can keep a close eye on it all, which makes it a hundred times easier to spot a c*ck-up (and sort it out).
Something I see on the regular is transactions where VAT hasn’t been claimed because there’s no invoice. If the payment for a product or service that is VATable – and from a known company that is VAT registered – shows up on the bank statement, I’ll make the claim. Simple as that. There’s no need to be leaving (verifiable VAT) money on the table just because a piece of paper is missing.
So basically, my aim here is to make sure VAT has been applied correctly and reclaimable VAT hasn’t been missed.
One of my recent jobs started as a simple VAT clean-up. The client thought their returns just needed a once-over. What I found was that, unbeknown to my client, they were in a messy situation.
By the end of it, the client had a significant VAT refund, a more manageable tax bill, and a set of accounts they could trust.
VAT isn’t optional, and it isn’t simple – especially where construction and property development are concerned. Get it wrong, and HMRC will come knocking and it won’t be a gentle tap. Ignore them, and you’ll lose money. I can’t stress enough the importance of responding to HMRC as soon as possible. Delaying it will not only make matters worse, it will cost you more money in the long-run too.
You could also be missing opportunities for VAT refunds, like my client who had £20k sitting there unclaimed.
The moral of the story: don’t try to do VAT yourself if you’re not one hundred percent on how to. And don’t trust someone who isn’t experienced in your industry. VAT compliance takes time, knowledge, and the right tools. It’s not exciting, but it’s essential.
If you think your construction business could be sitting on a VAT reclaim and you’re unsure how to go about it, or even if you just need a hand with general VAT stuff, I’d be happy to help.
Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb
Share
Partner with us and discover how our tailored accounting solutions can maximize your profits and minimize your taxes in the property industry.
Take the first step towards Financial Freedom, today.
Copyright © 2023 Cloud Accountancy UK | All Rights Reserved | Privacy | Terms and Conditions
Developed by Connectable