Construction Accountants
With a very detailed approach to cash flow management, the construction industry can highly benefit from accounting support. Looking for dedicated construction accountants who can manage all your industry-specific financial complexities? That’s where Williamson & Croft come in.
We understand that it can be hard and time-consuming to stay on top of things. Let our specialist construction accountants, based in Manchester & Liverpool, offer our accounting services and take the stress off your shoulders.
How do we take care of accounting for construction companies?
Protecting your interests is one of ours. Regardless of whether you are a main contractor, subcontractor, developer, architect, engineer, or another part of the construction industry, we’ll ensure that you’re running efficiently and in compliance, both now and in the future.
With Williamson & Croft, you’ll always be protected. Here’s how:
- CIS Administration & Compliance
- VAT & Domestic Reverse Charge Management
- Project Profitability & WIP Tracking
- Specialist Tax Reliefs
- Subcontractor Payroll & IR35 Advice
- CITB & Regulatory Reporting
- Management Reporting & Advisory
How can we help?
Read exactly how we can offer support in those areas:
Construction Industry Scheme (CIS) is a tax deduction scheme which involves tax being deducted at source from customer receipts and payments to suppliers for construction works.
Determining the correct CIS treatment can be a minefield and it is your responsibility to ensure the correct tax has been deducted. Failure to do so can result in HMRC chasing you for any lost taxes which can be substantial, along with fines and penalties.
We can also assist with achieving and maintaining ‘Gross Status’ so you do not suffer any tax deductions on your receipts, which can be highly beneficial to your cash flow.
With special VAT rules for construction it can be difficult to determine the correct VAT rates, because not only can they change from job to job but you also need to consider any ‘Blocked’ input VAT within your supply.
As experts in property and construction we can advise you on the correct VAT rates and how to ensure you are maximising your VAT efficiency whilst remaining compliant. In addition HMRC are planning to introduce a reverse VAT charge for the construction industry, effectively operating as a tax deduction scheme similar to that of CIS.
We also assist with VAT on stage payments and retentions to ensure you are paying the correct amount of VAT within the required deadlines.
As financial and industry experts we can go above and beyond the typical services provided by accountants to assist our clients with a wide range of issues, including:
- Developing systems and processes to evaluate WIP and contract profitability.
- Support in the evaluation and implementation of suitable accounting software.
- Assistance with CITB returns and other census returns.
- Management reporting including developing suitable budgets and projections.
- IR35 assistance: discussing issues with workers and finding solutions to tax concerns.
- Payroll services including payments to subcontractors.
- Corporate structuring to assist with asset protection.
Land Remediation Tax Relief (LRR) can provide a 150% deduction for qualifying expenditure incurred by companies in cleaning up contaminated or derelict land, to help bring it back to use.
LRR can be claimed on certain expenditures, with include:
- Removal of asbestos.
- Japanese knotweed.
- Radon protection measures.
- Removing building foundations and machinery bases, reinforced pile caps or below ground redundant services.
Research and development (R&D) tax credits are a government incentive there to assist UK-based businesses looking to invest in innovative products, projects, processes or services. Businesses that spend money doing so are eligible for R&D tax relief and could receive a cash payment or a reduction in Corporation Tax.
With potential savings of up to 33%, we can help you make your claim, benefiting your construction methods no end.
Why construction companies partner with Williamson & Croft
Invest in accountants who truly care about you. Here’s why construction businesses choose us to handle their accounts:
- Specialist expertise – We go far beyond basic accounting, offering everything from tax advice to audit & assurance services. Above all, we provide niche expertise in complex construction finance
- End-to-end support – Our services are specifically tailored to your needs, and we’ll make sure you receive support through every step of the journey
- An award-winning team – With offices in Manchester & Liverpool, our chartered accountants offer excellent service that feels like a true extension of your team
- Complete compliance protection – We can mitigate your risk against HMRC penalties so that you can spend more time focusing on your business
We take care of accounting for a whole wealth of sectors. So, whether you need a Retail and eCommerce accountant or a Property & Development investment accountant, we’re here.
Testimonial
Williamson & Croft are a fantastic accountancy firm who have always provided us with a stand out service. We couldn’t be happier with the level of support they provide and the speed and efficiency of their operations. Not only are they experts in accountancy, tax and advisory, but they truly understand the digital marketing sector too. Highly recommended.
Testimonial
We were very impressed with the expertise and professionalism that Williamson & Croft provided to us during our recent group restructuring and we would highly recommend their services
Testimonial
We were very impressed with the expertise and professionalism that Williamson & Croft provided to us during our recent group restructuring and we would highly recommend their services.
Testimonial
Fantastic service. Williamson & Croft have helped us grow as a business and we would recommend them highly to anyone. The whole team are always helpful and informative.
Ready to pass your finances to the professionals? Chat with our experts
The construction industry comes with its fair share of financial responsibilities, and we make sure that our experts have the most robust understanding. Our values are at the heart of everything we do, so if you’re looking for a first-class construction accountancy service in Manchester or Liverpool, we’re here.
We’re ready. Are you?
Having a dedicated construction accountant from Williamson & Croft means that you’re getting someone who directly understands construction-related legislation, helping you to maintain compliance, optimise cash flow, and avoid costly tax penalties. Your dedicated accountant will handle everything, from tax reclaims to making sure correct VAT treatment is applied to invoices.
Yes, we work with both main contractors and smaller subcontractors, as well as developers, architects, engineers, and other suppliers to the industry, making sure that your finances are fully efficient and compliant.
We make the switch to Williamson & Croft as seamless as possible. We understand that you’re busy running your business, so we make sure to take care of all the heavy lifting for you. We can contact your current accountant to ensure a smooth handover, and from day one we’ll take a deep dive into your business to identify risks and opportunities. Our people are at the core of what we do, and they’ll make sure you meet your financial goals.
To qualify for this, HMRC requires you to pass three main checks: a Business Test, a Turnover Test, and a strict Compliance Test. Here at Williamson & Croft, we’ll handle this entire process for you, including managing your application and making sure you maintain the ongoing compliance required for your business so that you never lose your Gross Status.
