We’ve worked with housebuilders, engineers, subcontractors, and tradespeople, ranging from the self-employed to companies with revenue in the millions. So, we really understand the challenges that construction businesses face.

Businesses in the construction industry often work on multiple jobs at the same time – with a mix of employed, self-employed and materials costs. Tracking job profitability is key to ensuring ongoing overall company profitability. We use Xero projects or job numbers within the tracking categories feature to achieve this, and combine it with bespoke management accountant reporting. 

With the imposition of the CIS scheme and Domestic Reverse Charge, the construction industry faces significant tax burdens. When handled by an expert, both of these are fairly straightforward – but they have nuances that other businesses don’t have to contend with. For clients who outsource their bookkeeping, VAT returns, and payroll to us, we take care of these aspects for them and leave them free to focus on running their business.

Businesses in the construction industry often need to invest in equipment, machinery, and vehicles. The timing of financing this can significantly impact corporation tax and cash flow. Through our monthly Finance Director service, we’ll help you understand the optimum time to invest in capital expenditures and explore the financing options available. We even support finance applications. We regularly find that the best time to raise finance is before you actually need it.  

Do you regularly use key sub-contractors on an ongoing self-employed basis? As part of our Finance Director service, we help identify and manage the risks associated with sub-contract agreements and particular working practices. So, you can reduce the risks associated with deemed employment.

Harriot Pleydell-Bouverie