When our long-standing client, Gloucestershire-based construction company AMPM Construction, saw an opportunity to move into property development, we were on hand to help.
AMPM co-founder, Snowy Heaton, planned to team up with two other organisations, to develop an area of land near Stonehouse.
Our tax team, led by Optimum Director Rob Stokes, advised on the creation of a separate business, which was named Métier Homes Ltd, as the most tax efficient vehicle for the enterprise.
Our legal team, led by Head of Legal Iain Mason, were then involved in the purchase of the site (which included a barn and cowsheds), as well as involvement with the project team on planning permission and change of use.
AMPM carried out the construction work on what was known as the Downton Barns development, building or converting five properties, including a tithe barn conversion, and converting cowsheds.
Once complete, Iain dealt with the conveyancing for the sale of the properties; Rob worked out how the three parties could benefit from the profits in the most tax efficient way, to suit their personal circumstances.
Supporting AMPM and also this new venture is a perfect example of how one client can benefit from our seamless services of tax, accountancy, and legal advice.
Snowy and his business associates have continued in property development. Their group of businesses continues to expand, and they are all based at The Site, Cheltenham, where Optimum also has an office. This makes it even more convenient for us to offer legal and accountancy advice.
“We continue to support the businesses with their development, tax planning and accountancy, as well as advising on the buildup of assets to provide a passive income. Our legal team have also helped with the legalities of the purchase of further plots of development land,” said Rob.
“We’ve gone from supporting one business, AMPM, to being embedded in the new enterprises, as their trusted advisers, both with accountancy and with legal advice. We’re so impressed with this successful business model and are delighted to have been part of it from the start.”
Snowy said Optimum’s help had been invaluable. “With our latest project for planning and development, we involved Rob from the start and we have also asked Iain to help negotiate the contract with the people selling the land,” he said.
“We now engage with Rob before we even buy any land, going through the finances with him, and we then involve Iain in the legal side. It’s a bonus having them working adjacent to us. They are very supportive and we value their expertise in advising on the best way to proceed. We meet on a regular basis, both formally and informally.”
If your business, or plans for a business, could benefit from legal, tax and accountancy advice from our expert team, get in touch by emailing the team.