Accountancy for construction and trades
We understand the construction industry
Running a construction business comes with its own set of challenges. Whether you’re a main contractor managing multiple sites, a subcontractor working on various projects, or a trades business like plumbing, electrical, or joinery, you need an accountant who understands how your industry works.
The Construction Industry Scheme (CIS), complex tax rules, cash flow challenges, managing subcontractors – it’s a lot to keep on top of when you’re trying to run jobs and grow your business.
We work with construction businesses across Lincolnshire and the UK. We understand the sector, we know the rules, and we’ll make sure your accounts are sorted so you can focus on what you do best.
Construction Industry Scheme (CIS)
For contractors
If you pay subcontractors for construction work, you need to register as a contractor with HMRC and follow the CIS rules.
We’ll handle all of this for you:
- CIS registration - getting you registered with HMRC as a contractor.
- Subcontractor verification - checking each subcontractor's status with HMRC to work out the correct deduction rate.
- Calculating deductions - working out what tax to deduct from payments (20% for registered subcontractors, 30% for unregistered).
- Monthly CIS returns - preparing and submitting your monthly returns to HMRC on time.
- Payment records - keeping accurate records of all payments and deductions.
- Deduction statements - providing statements to your subcontractors showing what's been deducted.
For subcontractors
If you work for contractors in the construction industry, you’ll have tax deducted from your payments under CIS. This counts as an advance payment towards your tax bill.
We’ll help you with:
- CIS registration - registering you with HMRC to reduce deductions from 30% to 20%.
- Gross payment status - applying for gross payment status if you're eligible, so you receive payments without deductions.
- Reclaiming overpaid tax - working out if you've overpaid tax through CIS deductions and claiming it back through your tax return.
- Keeping proper records - making sure you've got the documentation you need.
- Self Assessment returns - preparing your tax return and accounting for CIS deductions correctly.
Many subcontractors overpay tax through CIS because deductions don’t take into account their Personal Allowance or business expenses. We’ll make sure you claim back what you’re owed.
IR35 and employment status
If you’re a contractor working through your own limited company (particularly in the private sector), IR35 rules might affect you. These rules determine whether you should be taxed as an employee or genuinely self-employed.
Getting IR35 wrong can be expensive. We’ll:
- Review your working arrangements and contracts
- Advise on your IR35 status
- Help you structure contracts to demonstrate genuine self-employment where appropriate
- Prepare the necessary paperwork if you’re caught by IR35 rules.
The rules can be complex, especially with off-payroll working regulations for larger contractors. We’ll make sure you understand your position and stay compliant.
What we do for construction businesses
Beyond CIS compliance, we provide a full range of accountancy services tailored to the construction industry.
- Accounts and tax returns
- Bookkeeping
- VAT
- Payroll
- Cashflow management
- Tax planning
- Growth and expansion.
Why construction businesses work
We’ve worked with contractors, subcontractors, and trades businesses for years, so we understand how your industry operates. We’ll take all the admin burden off your hands, including CIS compliance, monthly returns, and verifying subcontractors, so you can focus on running jobs and winning new work.
Construction businesses often overpay tax, particularly subcontractors under CIS. We’ll make sure you’re claiming everything you’re entitled to and structuring things as tax-efficiently as possible.
We don’t just file your accounts once a year and disappear either. We’ll work with you throughout the year, helping with planning, cash flow, and any issues that come up.
Whether you’re struggling with CIS, need someone to sort out your bookkeeping, or just want proper accounting support from people who know the industry, we can tailor our service to what you need.
We'd love to talk
If you are frustrated by your current accountant, or are looking to appoint an accountant or bookkeeper for the first time, the first step is an informal chat.
We get to find out a bit about your business and what you need, and you get a feel if we are the right fit for you. It’s all about chemistry.
Give us a call on 01472 287387 or complete the form and we will give you a call back.
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