Construction Industry
Accounting Services for the Construction Industry
The construction industry faces unique financial and tax challenges, from managing subcontractor payments under the Construction Industry Scheme (CIS) to handling fluctuating cash flows and project-based accounting. At Virtax Accountants, we provide expert accounting solutions tailored for construction businesses, contractors, and subcontractors, ensuring compliance and financial efficiency.
Our Construction Accounting Services
CIS (Construction Industry Scheme) Accounting
- Ensure full compliance with CIS regulations for contractors and subcontractors.
- Handle CIS tax deductions and reporting to HMRC.
- Assist with CIS tax refunds and overpayment claims.
Bookkeeping & Payroll for Construction Businesses
- Maintain accurate project-based bookkeeping for smooth financial management.
- Process contractor and subcontractor payroll efficiently.
- Manage employment tax and National Insurance contributions (NICs).
VAT & Tax Planning
- Expert advice on VAT for construction projects, including domestic reverse charge VAT.
- Optimize corporation tax and personal tax for construction business owners.
- Ensure tax efficiency in material purchases and subcontracting costs.
Financial Planning & Cash Flow Management
- Help businesses manage cash flow challenges in large projects.
- Provide budgeting and profitability forecasting for construction firms.
- Support with securing business loans and funding for expansion.
Why Choose Virtax Accountants?
- CIS & HMRC Compliance –Avoid penalties with accurate tax filing.
- Industry-Specific Expertise – Dedicated accountants for construction businesses.
- Efficient Payroll & Bookkeeping – Keep your finances organized and tax-efficient.
- Tailored Tax Planning – Reduce tax liabilities and improve cash flow.
