Builders

Having specialised in builders accounts for over 30 years we have worked with a range of construction businesses from subcontractors just starting out on their own through to large building contractors working for some of UK’S biggest housebuilders.

Accountants for builders

Running a construction business can be challenging so it’s no surprise that many see accountancy and administration as nothing more than a necessary annoyance.

The reality is that one of the biggest risks to your business is poor financial control.  Finding a property accountant who can really help your business is a lot like recruiting a skilled tradesman.  An accountant who has the right experience, best tools for the job and professional qualifications will achieve the best results.

Some of the areas where we can help you:

Tax Planning

The decision to run your business as a sole trader or through a limited company can have a big impact on your tax liabilities over the long term as well as the short term.  Personal circumstances such as your level of income and retirement plans will be important factors in extracting profits in the most tax efficient way possible; which is why we offer tailored services to clients rather than a generic one size fits all service.

Limit your level of financial risk

Accountants often advise clients to form a limited company in order to benefit from limited liability.  While this is a valid piece of advice which we strongly advocate, it won’t stop you from losing all of the assets held in the company and possibly your sole income should your business become insolvent.

Being proactive in setting up a robust accounting system is one of the best things you can do to gain financial control of your business. We can put systems in place to alert you to any potential risks to cash flow before they become serious problems, provide you with real time management information and streamline your accounts process to save you significant time.

VAT

The type of building work you undertake will determine which option is the most appropriate for your circumstances. An example being if you are undertaking a new build, the project may qualify for zero rated VAT, depending on whether it meets the criteria set by HMRC. VAT can be extremely complex, with a number of tax traps” where professional advice should be sought before commencing a project.  

Construction Industry Scheme (CIS) for contractors

Under the CIS scheme, contractors must deduct 20% from a subcontractor’s pay and pass it on to HMRC to count towards advance payments for tax and National insurance contributions. With a comprehensive payroll bureaux we ensure your business remains compliant with issues such as RTI and Auto enrolment while providing an efficient, professional high quality service.

Construction Industry Scheme (CIS) for sub-contractors

As a subcontractor you will be subject to CIS tax deductions taken by your employer and paid directly to HMRC.  These payments don’t take in to account the costs of running your business or any other income you may receive outside of your contract.  With over 60 staff including fully qualified accountants and tax advisers we ensure that you claim back all of the available allowances and expenses incurred by you in the course of your work.

For more details on our accountancy and tax services for builders, contact us on 02392 484356.



 

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Construction Businesses Key Contact

Kevin Gilbert, Director

Kevin joined Morris Crocker in 1981 and throughout his career has specialised in the property development, investment and construction sectors.  He acts for all sizes of businesses, from individuals through to public companies.  His particular interest and expertise is in tax mitigation.

T:023 9248 4356
kmg@morriscrocker.co.uk

What our clients say...

I would have no hesitation in recommending their services to anyone who has the pleasure of embarking on their own business adventures, no matter where on the journey they currently may be. Gavin Barrett - Barrakav Ltd

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