Glasgow’s Favourite Construction
Accountants

Accountants for builders, subcontractors and construction firms

Home 9 Who we help 9 Construction Accounting

From the VAT reverse charge to the CIS

When it comes to construction accounting, we work with everything from sole trader tradesmen to big building companies, supporting them with the construction industry scheme (CIS), VAT reverse charge, subcontractor payroll (including IR35), tax refunds and a whole lot more.

Construction is big in Scotland, and especially in Glasgow, with a focus on infrastructure projects and new housing. We focus on cloud accounting to give you instant access to your financial data on the move or on site – and on delivering clear advice whenever you need it.

Refunds for contractors

Contractors are deducted 20% CIS tax at source and if they have workers, they withhold CIS tax from their subcontractors and pay this to HMRC. This usually  means they’re due a refund after the financial year-end.

Refunds for subcontractors

Subcontractors are usually deducted CIS at source from the contractor, at either 20% or 30% of their gross income. Subcontractors have to register for CIS to be deducted the lower rate of 20%. Most subcontractors are owed a CIS tax refund at year-end.

Get It Right.

01.

Registering for CIS

This is essential if you want to reclaim CIS tax deducted at source and, if you’re a subcontractor, to make sure deductions are at the lower rate.

02.

Contract pricing

Invest in the right people for each job and systems to price contracts and manage workflow. This will reduce clawback from contractors.

03.

Stage invoicing

Invest in a system that can invoice on contract stages and calculate labour costs, including CIS. It should also report to HMRC tax withheld and deducted at source.

04.

Generating growth

The right systems for recording and reporting will allow your business to grow while financial reports will reveal trends and support decision making.

Builders like the way we operate

Our construction industry clients like our approach. The focus on cloud technology saves them time. Our care and attention to detail saves them money. And the fact that we don’t take ourselves too seriously when it comes to construction accounting makes meetings enjoyable. What’s not to like?

I have found the advice from Blyth accountants of great value as I have little experience of business accounting systems and HMRC regulations etc. Mary is always very quick to respond to any query and acts very promptly if/when anything is needing attention. The systems that have been put in place allow me to operate my business smoothly and efficiently with little input.

Margaret Donnelly

Director, Rossleigh Developments Ltd

Ready to try it out?

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