Expert accountants for funeral directors
Given the highly emotional and sensitive work that you do as a funeral director, the last thing you need to be worrying about is whether you are compliant with tax, accounting and regulatory obligations.
However, funeral directors are subject to specific considerations that can prove challenging if not carefully maintained.
Keeping your accounts and tax affairs in order allows you to focus on delivering the service your clients and community rely on.
Our expert team understand the complexity of the sector and will work with you to ensure that you are able to work effectively.
We are also proud to be an Associate Member of the National Society of Allied and Independent Funeral Directors (SAIF).
For tailored support that reflects your unique position as a funeral director, get in touch with our team.
Funeral directors and crematorium operators must adhere to the Funerals Market Investigation Order 2021 and the strict financial rules that it introduced.
The Order, introduced following the CMA’s investigation into the funerals market, sets requirements around pricing and certain commercial practices.
Our team are well-versed in the application of the legislation and can review your processes to help you assess them and identify areas where changes may be required.
Pricing transparency is a core part of the rules and so it is necessary to have prices displayed clearly inside and outside branches, as well as on your website.
You must reveal the cost of extra items alongside the fixed-format list that will show the exact price for each service you provide.
There are also disclosure requirements that require you to declare business ownership, ultimate controllers and any material charitable donations over £250 made to local groups.
We can check that all of this is in place and that any changes to your strategy or financial model do not risk infringing on your responsibilities.
The work that you do is not necessarily on a fixed schedule.
There may be times when business is active and then there will likely be quieter spells.
Having a good understanding of your cash flow when revenue rises and falls is the key to keeping going.
There are also tax considerations that can vary depending on the size of your business and the work that you do.
Knowing how to stay on top of VAT (including VAT registration, VAT returns and VAT planning) and other requirements often requires an expert eye to prevent any issues from arising.
The tax liabilities can still rise even if revenue dips, meaning that cash flow management and effective tax planning can combine to prevent deadlines being missed or penalties being incurred.
Every funeral director will be in a different position, so blanket advice is not going to be beneficial.
This is why our experts get to know your unique circumstances so that we can provide tailored insights that will help you achieve your goals and stay compliant.
If regulations change, we are proactive in our approach so that you are fully aware before changes impact you and have the time you need to prepare.
We also advise on business succession strategies (including selling a funeral business or passing a funeral business onto children) to ensure that the value you have built is preserved even if the leadership team changes.
Speak to our team for expert assistance with finances and tax as a funeral director.
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We have worked with Spencer Gardner Dickins for many years, and our experience has been consistently excellent. The team is highly professional, reliable and responsive, while always maintaining a genuinely personal and appreciative approach. Their advice is pragmatic, well considered and delivered with a clear understanding of our business.
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SGD have been fantastic at advising our business through a phase of rapid growth. Demsey, Charles, Becky and the rest of the team have been supportive, responsive and diligent. We would not hesitate to recommend.
I’ve been using Spencer Gardner Dickins for the past 13 years and have always been extremely pleased with the service they’ve provided. The team is professional, knowledgeable, and highly responsive, giving me complete confidence that my accounts and tax affairs are in safe hands. They have continually delivered an excellent level of service and have built a relationship based on trust and reliability.
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Would highly recommend, the advice and support navigating complex systems has made this process much easier. Thank you to Ryan for your quick responses and patience.
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Very customer-focused, and prioritise rapport and relationship over anything.
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Very prompt and extremely helpful in all dealings