Benefits & Personal Finance

Introduction - Manager Becomes a Business Risk In many construction and engineering businesses, there is one person everyone relies on. They know the jobs, the clients, the numbers, and the team. When something goes wrong, they are the one called to fix it. At Jones Financial Accounts (JFA), we regularly see this individual become a single point of failure. What starts as dedication slowly turns into overload. Decisions are delayed, mistakes increase, and the business becomes

Introduction - Illusion of “Small Numbers” In construction and engineering businesses, attention is naturally drawn to big costs. Labour, materials, vehicles, and subcontractors dominate conversations and reports. Smaller costs, parking, tolls, travel expenses, minor tools, and sundries, are often ignored because they feel insignificant in isolation. At Jones Financial Accounts (JFA), we regularly find these “small numbers” quietly eroding margin. Individually they do not loo

Introduction - Service Departments Rarely Make Money In many construction and engineering businesses, the service department is seen as a problem area. It rarely shows strong margins, often breaks even at best, and sometimes appears to lose money altogether. Directors naturally ask whether the service function should be cut back, restructured, or pushed to “make more profit.” At Jones Financial Accounts (JFA), we regularly explain that this thinking misses the point. In most

Introduction - Overheads Feel “Too High” Many construction and engineering business owners believe their overheads are out of control. Rent feels expensive, management salaries look heavy, and fixed costs seem to rise every year. The instinctive response is to cut costs, delay hiring, or strip back investment. At Jones Financial Accounts (JFA), we regularly find that overheads are not actually the problem. In most construction and engineering businesses, overheads  feel  too

Introduction - When You Don’t Control the Inputs Most construction and engineering businesses set revenue targets with good intentions. The board agrees a growth number, sales teams are pushed to deliver it, and operations are expected to “make it work.” When targets are missed, the conversation usually turns to poor sales performance or market conditions. At Jones Financial Accounts (JFA), we consistently see a different root cause. Revenue targets fail because the inputs th

Introduction For many construction and engineering businesses, expense control is an uncomfortable topic. Directors worry that tightening controls will feel like mistrust, damage morale, or slow teams down. As a result, expense processes are often left loose, informal, or inconsistent. At  Jones Financial Accounts (JFA) , we see the opposite outcome when expense control is done properly. Strong expense processes do not police staff, they  protect profit, improve clarity, and

Introduction At  Jones Financial Accounts (JFA) , we regularly work with SMEs turning over £500k to £5m+ that are busy, winning work, and delivering projects, yet cash always feels behind. One of the fastest improvements we make is tightening invoicing discipline. This blog explains  why faster invoicing is one of the easiest ways to improve cash flow , why delays damage forecasting and supplier confidence, and how setting clear timelines restores control. It also explains wh

Introduction Late payments are one of the most common complaints we hear from construction and engineering business owners. Customers pay late. Cash feels tight. Directors assume it’s just part of the industry. At  Jones Financial Accounts (JFA) , we see this differently. In most cases,  late payments are not a customer problem or a cash flow problem, they’re a process problem . When invoicing, ownership, and follow-up are unclear, cash gets stuck. When processes are tight, t

Introduction - Data They Need Before Spending In many fast‑growing construction and engineering SMEs, directors and owners approve expenditure on intuition rather than data. Perhaps they trust their team, are pressed for time or rely on outdated processes. Yet uncontrolled spending erodes margins and creates cash‑flow pressures. This blog explores why directors bypass numbers, what information they need to see, and how often they should review it. Approving spend without chec

Introduction - Financial Leadership Prevents Business Firefighting In the fast‑paced world of construction and engineering, unexpected issues will always arise from delayed supplier deliveries to cost overruns. However, “firefighting” should not be the default mode for your business. Strong financial leadership provides a strategic framework that turns chaos into organised action. This blog explores the top intangible skills a finance leader needs, the red flags they should w

Introduction - T ax Perks for SME Directors UK tax legislation is full of allowances and reliefs that, when used correctly, can significantly reduce a director’s tax burden. Unfortunately, many construction and engineering directors are unaware of these benefits or assume they’re too complex. In this blog, we highlight five lesser‑known tax benefits, many seasonal or time‑specific, that directors of limited companies can claim. Always check with a qualified advisor for your s

After years of building your construction or engineering business, there may come a point where you decide to  step back, sell up, or hand over the reins . Whether you’re planning a full exit, transferring ownership to family, or bringing in new investors, the reality is this: 👉 The way you plan (and time) your succession will determine  how much of your sale proceeds you keep, and how much goes to HMRC. The truth is, many SME owners  wait too long  to think about tax effici

Running a construction or engineering business often means wearing multiple hats, director, project manager, estimator, and sometimes even site labourer. But there’s one habit that quietly destroys clarity, cash flow, and control:  mixing business and personal finances . Many small business owners still use the same bank account for both, buying fuel, paying subcontractors, and covering personal bills all from one pot. It might feel harmless or “easier to manage,” but in real

You may not be thinking about selling your construction or engineering business today, but you should be building it like you are. Why? Because when it’s time to exit, whether in 3, 5, or 10 years, buyers will only pay a premium for businesses that run smoothly  without  the owner. If everything’s in your head, or held together by your personal relationships, the value drops significantly. This is where many construction, trade, and engineering SMEs fall short. They’re brilli

Introduction - Artificial Separation & VAT Disaggregation If your construction or engineering business operates through multiple companies, perhaps one for labour, one for materials, or one for management, you could unknowingly be breaching  HMRC’s VAT rules on artificial separation and disaggregation . It’s a common trap for small and medium-sized construction firms. Many set up multiple entities for practical reasons, like dividing work or managing cash flow. But if those c

Introduction - ChatGPT in a Construction or Engineering Business If you work in  construction or engineering , you’ve likely heard about  ChatGPT  , but maybe you’re still wondering how it actually helps your business. Most small and medium-sized companies see AI as “something big corporations use,” but the truth is this:  AI is now the easiest way to save time, cut admin costs, and improve communication  across your team. At  Jones Financial Accounts (JFA) , we advise constr

Introduction - Director Responsibilities In construction and engineering, directors carry more than hard hats and decision-making power, they carry  legal accountability . Every missed filing, unpaid tax, and compliance breach falls back on the board. The penalties can hit both the company and the individual director personally, fines, disqualification, or worse, reputational damage that lingers longer than any project delay. At  Jones Financial Accounts (JFA) , we see many d

Introduction - The Payout Options Every Owner Should Know Succession planning isn’t just about retirement, it’s about  turning years of hard work into lasting value  while protecting your company’s future. For many construction and engineering directors, the biggest question is simple but critical:  “How do I get paid, and when?” Your payout structure determines how much you actually walk away with, how much tax you’ll pay, and how your team, or buyer will fund it. The right

Introduction - Value Your Construction or Engineering Business When it comes to  succession planning , one of the biggest questions every...

Introduction - Succession, Where Do You Start In the construction and engineering world, many business owners spend years building their...