Construction

Accounting for Construction Businesses

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The construction sector has unique accountancy requirements. It’s unlike any other industry! Specialist knowledge is needed to work through the nuances of CIS payroll, VAT domestic reverse charge and cash flow for construction businesses.

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Pomroy Associates offers the expert support needed for construction companies, contractors and subcontractors. As well as complying with accounting and payroll requirements we’ll offer essential cash flow forecasts, bespoke accountancy advice and tax planning.

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You’re probably managing several projects, at various stages of completion, at any time. Understanding HMRC’s tax requirements and your business cash flow is essential. Finding the time and specialist knowledge internally is difficult.

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Each of your construction projects is different. For us, every client is unique. Working together, we take the time to understand your current business, current performance and future plans. We ensure your construction business complies with all the sector-specific requirements including:

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• HMRC registration for contractors.
• Verification of subcontractors.
• Managing CIS payroll and submitting monthly CIS returns.
• Reflecting retentions in CIS, VAT and corporation tax returns.
• Recording Work in Progress and allocating costs accordingly.

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