Building Success: Elevating Construction Excellence with Adsum

“The amount of stuff that Olya* has helped me with! That woman – she has got the patience of a saint! I love her, she’s brilliant, honestly!”

*Olya is one of Adsum’s best VAT and Corporation Tax specialists

Company: Fortitudo

Industry: Construction and property development

Background: With almost four decades of experience in developing property, Fortitudo specialises in identifying prime sites and developing luxury homes in desirable South England locations, focusing on beauty, functionality, and top-quality living with excellent amenities.

Challenge:
Fortitudo were looking to expand their operations by taking on more developments and faced financial challenges common in the property development and construction industries, impacting their ability to expand as fast as they wanted to. The need for a streamlined financial solution led them to explore Adsum’s VAT advance services.

Adsum, specialising in VAT advances for UK businesses, emerged as a strategic financial partner for Fortitudo. The approach was twofold:

• Pre-completion VAT advances on all site purchases – Adsum advanced the VAT payable on each site purchase prior to completion, alleviating the cash flow challenges typically faced during the acquisition phase and reducing the need to take on further debt. By ensuring the availability of funds for VAT on property purchases even before completion, Fortitudo was able to maintain momentum in their expansion efforts without financial strain.
• Ongoing support during the development phases – Beyond the initial acquisitions, Adsum provided ongoing support through Instant VAT® refunds. Allowing Fortitudo to recover VAT on development costs, legal fees, and other expenses immediately upon submitting their VAT returns and then reinvest those funds into their ongoing projects much faster.

By leveraging Adsum’s services, Fortitudo were able to recycle their funds much faster, saving 203 days of waiting for HMRC, with the total exceeding £2,500,000.