Accounting for Construction Companies

How our Accountants can help you!

• Annual Accounts

  Our accountants can assist with the preparation of company annual accounts and financial records and have this prepared at the end of the financial year. These include

  • A balance sheet
  • A profit and loss statement
  • Notes about the accounts
  • A director’s report
  • An accountants or auditor’s report
• Corporation Tax

  In the UK, you must pay Corporation Tax on profits from doing business. Our accountants can assist with company tax returns and tax computations and will also be able to provide advice on any tax planning areas that may benefit you and your company.

• Construction Industry Scheme (CIS )

  With our accounting expertise within the construction sector, we can help provide you with the information you need to solve problems and make the right business decisions to boost profitability.

  The CIS covers most construction work, including plumbing, roofing, plastering and building works.

  Suppose you are a company or self-employed individual working as a contractor within the construction industry. In that case, you are obliged to register for the scheme and to make the appropriate payments to HMRC.

  If you are a subcontractor, you do not have to register, but deductions are taken from your payments at a higher rate if you haven’t.

• Work In Progress (WIP)

  WIP is the value of work completed but not yet invoiced. However, calculating WIP and matching costs is not always as simple as it seems. That is why hiring a professional construction accountant is vital.

  Our construction accountants can advise on the best approach to purchase or hire equipment, what expenditures are permitted, and how to minimise tax liability.

• Full range of accounting services for large & small construction businesses
  • Accounts preparation for your business
  • Self-Assessment Tax returns if you are self employed
  • Managing complicated payroll for your business
  • Compliance with HMRC’s Construction Industry Scheme
  • Corporation Tax planning and advice
  • Value Added Tax (VAT)
  • Compliance with companies’ house filing requirements
• Who Do We Help

  We support independent firms and individuals within all aspects of construction sector. This includes (but not limited to):

  • Commercial / residential builders
  • Architects
  • Property refurbishment
  • Civil engineering
  • Estate agents
  • Joint venture projects