Solid Foundations

We know that doing business in the construction industry is tough, and that is exactly why we want to work with construction businesses, regardless of size. We want to play our part in helping these enterprises reach their full potential and make it big in the industry.

In Southeast of England alone, there are already thousands of companies in the said field, what more nationwide?

The Construction Industry Scheme was devised so that contractors are able to deduct money from the payment of subcontractors and pass across the tax to HMRC. We are able to monitor all these with the help of our payroll experts.

The VAT Domestic Reverse Charge Scheme

New VAT accounting procedures for those in the field of construction have become more and more complicated since March 2021 because new layers of rules and regulations have been added for the compliance of building contractors. This, therefore, makes planning ahead all the more essential.

Simply put, all VAT-registered construction businesses that supply and receive services reported under the CIS undertake the following:

  • Avail of other builders’ construction services and make an onward supply of these services to another customer. For instance, when a subcontractor invoices the main contractor for a specific task, the main contractor must invoice the end user, which is the customer in this case.
  • Sells Construction and building services to other builders where these builders make an onward supply of the services to their own customer.

When in doubt: Typically, if the recipient is VAT-registered and all payments are subject to CIS, reverse charges must apply.

When it comes to VAT charges, different types of property development entail different rates of VAT. For example, building houses from scratch is charged differently to a property that is only being renovated.

Not all accountants are knowledgeable about these differences in VAT rate, but you don’t have to worry about us not knowing enough, because even if they’re complicated, for sure, we know of it.

We not only look into large-scale enterprises, but we cater to small businesses as well!

We also have a sizable number of clients who are sole traders and self-employed specialists — plumbers, electricians, bricklayers, and the list goes on. We know that these jobs entail you to work ceaselessly 24/7 and that’s why we’re here to help! Leave the technicalities of tax returns and corporation tax to us, so that you can take time to rest or to even do more jobs!

Again, because we have specialized knowledge in the field of Building and Construction, we are capable of offering you the most competitive rates that go along with our range of services that covers bookkeeping, payroll, tax support, and many more.

Although it’s important to note, we’re not saying we are cheap, but rest assured, we’ll make sure that the quality of service we provide makes every single penny you pay worth it.