Thomas Emlyn Ltd

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Helping Ambitious Construction Business Owners Scale | Understand Your Numbers | Systemise | Ditch Financial Admin | Build a Business That Runs Without You | Construction Accountant

Download - 5 Steps to Get Control of Your Margins
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🚀 Why we’re moving further away from traditional accounting software providersFor years, the big players in accounting s...
01/09/2025

🚀 Why we’re moving further away from traditional accounting software providers

For years, the big players in accounting software promised progress through new features. But here’s the reality:

- They add more features… but they’re clunky, hard to navigate, and slow down day-to-day work.

- Their prices keep climbing, while service levels fall.

- They’re simply too slow to adapt to the way modern businesses want to operate.

Meanwhile, AI-based tools are smashing them to bits. The time savings, accuracy, and ease of use are on another level. We want to be spending more time with our clients, not entering invoices.

The gap is only getting wider. Traditional software is fighting to keep up, while AI is reimagining the game entirely.

But credit where it’s due: Not all providers are missing the mark. Xero is still awesome - fast, intuitive, and consistently evolving. I can’t see that changing any time soon.

The future of accounting is clear:
👉 Less time wasted on clunky tools.
👉 More focus on accuracy, speed, and insight.
👉 More time spent with clients.

I’m curious where this shift is heading? The next 2–3 years are going to transform how finance teams work.

Really looking forward to recording this workshop next week.‘How To Avoid Margin Killers And Protect Your Profits’ with ...
01/08/2025

Really looking forward to recording this workshop next week.

‘How To Avoid Margin Killers And Protect Your Profits’ with Georgia Stylianou FRSA, Founder of Build Your Trade - which will be featured inside TradeMate…A membership exclusively for Trade business owners.

In this short, practical session, we’ll unpack the most important number in your construction business: Gross Profit.

You’ll learn what it is, why it matters more than turnover, and how small changes can make a big impact on your bottom line.

We’ll also highlight the most common margin killers in construction and simple strategies to protect your profits - without spreadsheets or jargon.

Whether you price jobs yourself or rely on others, this session will give you a sharper grip on the financial heartbeat of your business.

If you’re one of my construction clients and would like to access the workshop, the team at TradeMate have kindly offered a 14-day free trial.

You’ll not only get access to this session, but also a whole library of Trade-specific workshops on topics like branding, recruitment, finance - as well as professionally designed templates to help you build your marketing with ease.

I’ll let you know once it’s live, so let me know if you’d like access.

In the meantime, if you run a Trade business and are looking to see how you score on all things OFF THE TOOLS when it comes to your brand and marketing, then you can take the Build Your Trade 3 minute Trade quiz.

You can see what you’re nailing and where you need to show a little more TLC.

Plus you’ll have a chance to book in a 121 with Georgia, to go through your results and give you some new ideas you’ve probably not thought of.

3 minute Trade Quiz link waiting for you in the comments...

Inheritance tax on farms has got a lot of press over the last few months. But something that may have flown under your r...
30/07/2025

Inheritance tax on farms has got a lot of press over the last few months.

But something that may have flown under your radar is that EVERY privately and family owned business has also been done over.

Inheritance tax headlines have zeroed‑in on farms – yet the same draft legislation quietly attacks every privately or family owned company worth more than £1 million.

If you’ve skimmed the coverage thinking “not my sector”, think again.
What’s changing?

From 6 April 2026 Business Property Relief (BPR) will shelter 100 % of the first £1 million of business value, but anything above that only gets 50 % relief.

With IHT at 40 %, the slice over £1 million effectively faces a 20 % tax charge.

To put that in real numbers: a family company valued at £11 million that would have passed tax‑free today will create an extra £2 million IHT bill for the next generation after 2026.

As the company value doesn’t mean cash in the bank, you need to think about how that will actually be paid, or legal strategies to avoid it.

The sooner you plan for IHT the better.

If your business is already north of £1 million - many construction and trade firms hit that mark sooner than you think - book an IHT with an expert now.

Ever felt like you’re working flat‑out yet your revenue plateaus? I call this the comfort‑zone ceiling – and it shows up...
29/07/2025

Ever felt like you’re working flat‑out yet your revenue plateaus?

I call this the comfort‑zone ceiling – and it shows up in owner‑managed construction firms more often than not.

Behavioural research backs this up.

A landmark Princeton study found that day‑to‑day happiness rises with income only until roughly $75k – about £60‑70k for a UK household; beyond that, the emotional lift flattens because money has already removed most day‑to‑day stresses.

In other words, once the mortgage, a couple of holidays and the odd round of golf are covered, the brain whispers “Relax, we’re safe.”

However, business safety mode equals stalled growth.

Comfort convinces us we’ve “made it”, exactly when the company actually needs a pivot – better systems, delegation, and strategic spends that feel uncomfortable in the moment.

The antidote is a written business plan big enough to scare you just a little:

Profit Target: £500k annual profit within five years.

Lifestyle design: Where you’ll live, the hours you’ll work, the hobbies you refuse to sacrifice.

Quarter‑by‑quarter milestones: Revenue, margin, headcount, cash buffer.

KPIs: Weekly leading indicators (quotes issued, utilisation, debtor days) that show whether you’re climbing or coasting.

Long Term Investments: What do you want in your pension, and other investments, how much do you need to retire

Accountability: Monthly finance meeting, quarterly board, annual strategic retreat – even if the “board” is just you and a trusted adviser.

When the plan says you must push past £150k profit to hit that five‑year plan you start to ask yourself: am I staying comfortable or doing what future‑me asked?

That tension is healthy pressure – it forces delegation, pricing decisions, and marketing moves, that feel uneasy now but pay off later.

Use the business plan to write down daily, weekly and monthly actions to get there.

🤯 When your accountant forgets to reclaim VAT – on their own invoice.I’m used to inheriting crap from old accountants, b...
28/07/2025

🤯 When your accountant forgets to reclaim VAT – on their own invoice.

I’m used to inheriting crap from old accountants, but this week really was bad.

There are often small things like disclosures in a set of accounts not quite right, and things like the accounts stating the country the business was incorporated was ‘blank’ as they haven’t even been bothered to fill in their software properly.

But this week we took on a construction firm that asked us to review their VAT efficiency.

Buried in last year’s returns we found the accountant’s fees entered gross – no input VAT reclaimed at all.

Worse, the same accountant had filed the returns.

If they can’t get that right I wonder what else we might find.

Its concerning, as a business owner would really struggle to spot this.

If you would like a health check, with no obligation to switch advisers, please reach out.

Address

Elizabeth House, 28 Baddow Road
Chelmsford
CM20DG

Opening Hours

Monday 9am - 5pm

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