The building blocks of tax efficiency
As specialist construction accountants we are well aware being part of the construction industry is hard yet rewarding work. The hours are long, and you have endless compliance regulations to meet – and that’s all before you even get a start on your taxes.
Even though we make it sound like a lot of work, there’s no need to feel overwhelmed. We work closely with our construction industry clients, helping them navigate the complexities of their sector.
Whether you’re a sole contractor or a limited company, we can help share the weight of your reporting requirements with HMRC.
As specialist construction accountants, we have an in-depth knowledge of your taxes – this includes the construction industry scheme (CIS), VAT reverse charge and even your cashflow.
Being part of the CIS requires its own form of reporting. If you’re part of the scheme as a contractor, you’ll have a legal obligation to make deductions from your subcontractors’ payments and pay these to HMRC. If you’re yet to register, we can help you with every step of the process.
Our services include:
- registration as a contractor/subcontractor
- verification of subcontractors for contractors
- preparation & submission of monthly CIS returns to HMRC
- subcontractor payment & deduction statements.
Supporting experts of all kinds
If you run your own construction business, the first thing we’ll do is sit down and look at its structure. From there, we can help identify ways to potentially improve your tax efficiency, either through the use of capital allowances and reliefs or by managing your current expenditure.
For our subcontractor or contractor clients, we can advise you on your IR35 status and tax reporting obligations. There may have been changes in the legislation, but we’re well-versed in it all.
By becoming our partner, you can guarantee that your accounting processes will be future-proofed. We’re always keeping up with the latest changes in reporting processes (such as Making Tax Digital), so we’ll meet every compliance requirement on your behalf.
Not only will this save you money and time, but it’ll also mean you can relieve yourself of the stresses of keeping on top of the Government’s ever-changing policies. Our specialist construction accountants are here to help you keep doing what you do best – build towards a brighter future.
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Let’s talk today
Our tax experts will be happy to have an exploratory conversation, free of charge, so that you can discover for yourself what make Coveney Nicholls the intelligent choice for businesses and individuals in need of tax advice.