SAS's long-term partnership with JDC brings growth and stability
Sterling Accounting Solutions
Proactive, tech-driven accountants facilitating growth, whilst saving clients time and money.
We are pleased to share another client success story, after successfully advising the management team of JDC Scaffolding on a Management Buy Out. Our team provided support in negotiating the terms of the deal and securing the necessary financing that will support the management teams expansion plans.
JDC Scaffolding has worked alongside SAS in various capacities for over 10 years and they are a North London-based scaffolding company, working on projects up to ￡5 million.
SAS and JDC teamed up to help drive the business forward implementing simple and robust processes, provided detailed monthly reports, and helped predict cash flow, empowering management to make informed decisions.
JDC have been secure in the knowledge that all their legal financial requirements are taken care of, leaving them with time to concentrate on business operations. JDC were comfortable with the fact that SAS had in-depth knowledge of the construction industry.
We’ve worked with SAS for several years now and their service has been exceptional. They have assisted with resolving a historical and complex VAT enquiry, securing affordable funding, accessing tax reliefs, implementing efficient processes, and providing timely management reporting. Their specialist construction knowledge and ability to find solutions have been invaluable in enabling us to confidently grow the business. - David Eaves, Managing Director of JDC Scaffolding
Spring Budget
Summarised points:
- VAT threshold will increase from ￡85k to ￡90k.
- Jeremy Hunt, announced he will publish draft legislation for full expensing to apply to leased assets.
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- New "British ISA" - ￡5,000 tax free allowance in addition to the existing ISA allowances
- The government has announced that it will abolish the furnished holiday lettings (FHL) regime, which gives extra tax reliefs for costs incurred furnishing holiday lets, and is also removing multiple dwellings relief. - Reduction of Higher Rate CGT on property Gains from 28% to 24%.
- The government will abolish the current tax system for non-doms and replace it with something fairer.
- April 2026 will see the introduction of the reform to a household income level to assess the high income child benefit charge. The reform will take time to implement and so for now, from April 2024 - the high income CB charge threshold assessed on the individual will be increase to ￡60k, from ￡50k. With the end of the scale moving to ￡80k.
- Main rate of NIC cut from 10% to 8%, Self employed from 8% to 6%.
What is week 53 and how does it affect me?
Week 53 (or 54/56 for different payment frequencies) is an extra pay period for weekly, fortnightly, or four-weekly pay cycles at the end of the tax year. These payments, calculated independently, may lead to potential tax underpayment, requiring employers to notify employees.?