Independent or family-run funeral directors face many challenges – competition from large chains, difficult economic conditions, a minefield of VAT issues and the problems of succession planning – are just some of the issues which can make it tough to run a compassionate, yet ultimately, profitable and efficient business.
At CHC, our team of accountants understand the business issues that you are facing. We have experience in helping independently owned funeral providers and offer a full range of financial services to meet your particular needs.
VAT returns are the most frequent issue we are asked to assist with – partial exemption rules have become increasingly complex in recent years and can also have a significant impact on your cash flow.
We will help you put in place a sound financial strategy to smooth out the potential cash flow bumps and will also ensure that you neither pay too much nor too little, ensuring that you keep on the right side of the taxman.
We can help and advise you on a range of accounting and financial matters including:
- Cash flow forecasting
- Record keeping
- Payroll and pension auto enrolment for employees
- Budget and tax estimates to calculate the appropriate levels of drawings
- National Insurance contributions
- Tax and compliance issues including VAT status of non-exempt items such as memorials
- Personal tax returns
- Retirement and succession planning
- Independent financial advice through our IFA company, including pensions, wealth management, life assurance and income protection
- Business valuations and buying or selling a business including raising finance
We also make sure that we keep all our funeral director clients up-to-date with a regular newsletter specifically for the sector.
Contact us now to arrange a free initial meeting to discuss your needs.