Construction Accountants
Providing your construction firm with expert accounting services.
Specialist Construction Accountants
Are you seeking a specialist construction accountant? At LJS Accounting Services, we have a team of trusted construction accountants with in-depth knowledge and experience in managing accounts for construction firms.
The construction industry is unique, with specific accounting and financial requirements. Construction accounting can be complex, especially for small businesses or limited companies with little time.
Our team of dedicated construction accountants can help manage revenue, invoices, taxes, suppliers, and wages.
Key Benefits of our Fractional CFO Services
We collaborate with diverse clients in the construction industry.
Commercial and Residential Developers
Civil Engineers
Contractors
Professional Service Providers
Surveyors
Subcontractors
Construction Start-Ups
Large-Scale Companies
Why You Need a Construction Accountant
Working in construction can be demanding, and as a contractor, you most likely don’t have the time to deal with accounting as well as your job. Likewise, it can take a long time to learn the skills and expertise needed to sort out your construction accounts. Government changes such as MTD (Making Tax Digital), VAT Changes, and CIS mean that there’s even more to consider, and hiring a construction accountant can help massively.
Our construction business accounting specialists utilise specific accounting software for the construction industry. Some of these include Customer Relationship Management system (CRM) for businesses, and Enterprise Resource Planning (ERP) accounting software, which manage day-to-day business activities, for example, project management, risk management, supply chain operations, and, of course, accounting.
Construction Industry Accounting Services
We collaborate with diverse clients in the construction industry.
Bookkeeping & VAT
VAT can be complex for construction firms. Our construction accountants manage VAT calculations, eliminating the chance of costly errors thanks to MTD software.
Construction Industry Scheme (CIS) Compliance
We ensure accurate and timely registration and submissions of CIS records while ensuring you can continue to employ or take on CIS subcontractors without the risk of attracting fines.
Work in Progress (WIP)
We ensure that Work in Progress (WIP) is measured correctly, helping keep your construction projects on track, within budget, and with reduced risk of delays or exceeding costs.
Start-Up Advice
Benefit from expert start-up advice from our construction accountants, who are here to help make sure your journey in the sector starts right.
Management Accounts
We prepare management accounts on a monthly or quarterly basis to ensure you're up to date with the overall performance of your construction business.
Forecast & Projections
We can help with construction-specific accounting as well as everyday accounting, for example, forecasts and projections.
What is CIS and WIP?
CIS
The Construction Industry Scheme (CIS) covers the majority of construction work, including electrical, plumbing, building, plastering, roofing, and many other trades.
If you’re a contractor and work in the construction industry, you should register for CIS and make payments to HMRC accordingly. However, if you’re a subcontractor, you won’t need to register (although deductions will be taken from your payments at a higher rate).
Our dedicated construction accountants give you the guidance you need regarding CIS, helping you make the right business decisions to boost both productivity and profitability, and streamline finances to reduce overhead costs.
WIP
Work in Progress (WIP) is essentially the value of work that you have completed but haven’t invoiced yet. This means that if you’re halfway through a project that’s worth £5,000, then the WIP will be £2,500.
However, figuring out WIP isn’t always as easy as this, and numerous factors can come into play, which is where we can help. Our construction accountants are expertly qualified accountants for those in the construction industry and can calculate WIP and matching costs with ease.
We can advise you on the best way forward regarding WIP, whether it be regarding costs associated with equipment hire or purchase, materials, other expenditures, or tax liabilities (and how to minimise tax!).
Why Us?
Our accounting for contractors helps ease day-to-day duties. Construction accounting can take up valuable time, so why not let us deal with it for you and give you the time to deal with other important aspects of your business?
- Construction-specific accounting
- Help construction businesses survive and excel financially
- Worked with a range of clients across the sector
- Understanding of the rules and regulations
- Extensive knowledge of the industry
- Up to date with the ever-changing construction economy
WHAT OUR CLIENTS SAY
Here are some kind words from clients that we’ve helped grow their business.
Ready to work with us?
Our accounting for contractors helps ease day-to-day duties. Construction accounting can take up valuable time, so why not let us deal with it for you and give you the time to deal with other important aspects of your business?
Contact our trusted construction accountants today to find out more.
