The construction industry runs on meticulous planning and precise execution—and so does managing your finances. From tracking Construction Industry Scheme (CIS) compliance to managing VAT and job costing, at pearl lemon accountants we provide specialised accounting services designed for UK builders. Whether you’re a contractor, subcontractor, or running a large-scale firm, our expertise ensures your numbers are in order, so you can focus on building.
Why Our Accounting Services Are Perfect for Builders
Our accounting solutions are built to meet the complex demands of the construction sector. We understand the nuances of the industry and deliver services designed to help your business thrive.
Handling CIS Compliance with Confidence
The Construction Industry Scheme can be a maze of rules and reporting requirements. Our team ensures every deduction and submission is accurate, protecting you from fines and penalties. For instance, we worked with a subcontractor in Manchester who had incorrectly reported deductions, saving them over £12,000 in penalties after a full review.
Managing Work-In-Progress (WIP) for Clear Insights
Accurate WIP tracking ensures you’re always aware of how your projects are performing. From initial materials to final invoice payments, we create reports that provide a clear snapshot of profitability and cash flow at any stage of your projects.
According to the Chartered Institute of Building, 45% of construction firms say incomplete WIP tracking impacts their cash flow significantly.
Simplifying VAT Reverse Charges
The VAT reverse charge mechanism is a frequent pain point for builders. We ensure seamless compliance by managing invoices, identifying eligible reclaims, and submitting VAT returns that are error-free.
HMRC reported over £100 million in penalties in 2023 due to VAT reverse charge errors—don’t be part of this statistic.
Supporting Your Business with Cash Flow Solutions
Late payments can grind construction operations to a halt. With proactive cash flow management strategies, we ensure you have sufficient funds to cover payroll, materials, and unforeseen expenses. Over 70% of small construction businesses face cash flow challenges, according to the Federation of Small Businesses.
Builders choose us because we provide solutions that work for your unique needs—not generic advice.
Our Process: Simplifying Construction Accounting
From the foundation to the finish line, we make your accounting process straightforward and effective.
Step 1: Understanding Your Business
We start with a detailed consultation to identify the specifics of your projects, workforce structure, and compliance needs. Are you a sole trader or a limited company? Are you operating under CIS? These insights shape our strategy.
Step 2: Setting Up Robust Systems
We implement tools like Xero, Sage, or QuickBooks, ensuring you can manage job costing, payroll, and reporting effortlessly. For larger firms, we integrate cloud-based systems for real-time updates and tracking.
Step 3: Keeping You Fully Compliant
We take the burden of CIS returns, VAT submissions, and tax filings off your shoulders, so you’re always ahead of deadlines. Regular updates ensure you’re never caught off guard by HMRC requirements.
Step 4: Providing Continuous Support
Whether you’re dealing with unexpected costs, planning for growth, or diversifying your business, our team offers guidance and insights to keep your financial strategy aligned with your goals.
Services and Tools We Provide for Builders
We provide accounting services designed specifically for builders, including tools to manage finances, streamline CIS compliance, and handle payroll. Our solutions are tailored to the construction industry, ensuring you can focus on projects while we manage your books and taxes efficiently.
Project-Based Accounting
We offer detailed job costing to track each project’s expenses, revenue, and profitability. This ensures you can identify areas of improvement and maintain cost efficiency.
CIS and VAT Management
From registering under CIS to managing monthly returns and handling VAT reverse charges, we provide end-to-end compliance solutions.
Payroll Services for Your Team
Managing payroll for full-time staff and subcontractors is critical in construction. We handle PAYE, National Insurance, and CIS deductions to keep your workforce happy and HMRC satisfied.
Tax Planning for Builders
Take advantage of deductions for plant machinery, tools, and even R&D credits for innovative techniques. We ensure you’re fully aware of every saving opportunity.
WIP Tracking and Reporting
Work-In-Progress accounting helps you stay informed about costs versus progress, reducing risks of overspending or delays.
Companies that implement detailed WIP tracking see an average 20% improvement in project profitability (Construction Financial Management Association).
Why Builders Trust Us Across the UK
We understand the complexities of the building industry because we’ve worked with hundreds of firms just like yours.
- Industry-Specific Knowledge: From job costing to CIS compliance, we know the challenges builders face daily.
- Clear Communication: Forget jargon—you’ll get actionable advice that makes sense.
- Proactive Approach: We don’t wait for problems to arise; we address them before they impact your business.
- Proven Track Record: Our clients range from individual contractors to firms managing multi-million-pound projects.
Over 90% of our clients report better cash flow and fewer compliance issues within the first year of working with us.
Frequently Asked Questions
CIS requires contractors to deduct tax from subcontractor payments and send it to HMRC. We ensure compliance by calculating deductions accurately and submitting timely returns.
Yes, builders can claim expenses for materials, tools, protective clothing, and other business-related costs. We help maximise these deductions.
We ensure every invoice adheres to reverse charge VAT rules, minimising errors and maximising complianc
WIP accounting tracks costs and revenue for ongoing projects, giving you a clear view of financial performance. It’s essential for builders handling multiple jobs simultaneously.
Absolutely. We implement credit control measures and provide strategies to ensure payments are made on time.
Build Your Financial Stability with Us
Managing a construction business is tough enough without worrying about numbers. Let us take care of the financials so you can focus on laying strong foundations, managing deadlines, and delivering exceptional projects.
