Accountants for construction
Do you feel the following?
Struggling with cash flow?
Worried about keeping on the right side of HMRC?
Need help managing your finances?
We can help
As specialist construction accountants we know your pain points and can provide the solutions you’re after.
Helping you build financial success
As accountants to many construction and trade businesses we know one thing for certain – you’ve got a lot on your plate.
Whether it’s managing multiple contractors, chasing down materials or getting quotes out – there’s always something to do. Now we may not be the best with a hammer or hand drill but we do know how to manage the accounts for your construction business.
Are you worried about cash flow? Struggling to deal with endless compliance like CIS and VAT domestic reverse charge? Or simply unsure on profitability and how your business is performing? Our experienced construction accountants can help, talk to Raw today.
Why choose Raw as your specialist construction accountants
Experts
We work with multiple construction and trade businesses offering you in-depth knowledge and expertise.
The right tools
We work with the tools and systems you're already using, including Xero, QuickBooks and Sage and combine these with industry specific platforms such as, Tradeify, Xero Projects and Workflow Max.
Go the extra mile
We do more than just keep you compliant - we provide management accounts and cash flow forecasts along with key insights so you know exactly how your business is performing.
Compliance
Whether you're main contractors, a subcontractor or both, we handle all your CIS filings including completing verifications for contractors.
Your finance team
We provide you with a dedicated finance team which includes a bookkeeper, accountant, and payroll manager who know your business inside out.
Save you time & money
We work hard to save you time and money through tax planning and offering proactive advice to your business.
Construction services
What our customers say about us
Accountants for construction businesses - FAQs
Why is construction accounting different?
There are several differences when it comes to construction accounting such as CIS and domestic reverse charge for VAT. This means the construction industry has one of the highest compliance burdens so it’s important to work with an accountant who knows their stuff!
A construction accountant will provide all the things you’d expect of a traditional accountant whilst also providing expert advice specific to the construction and trade industry.
At Raw, we package up all the accounting services you’d need for your construction business including: VAT, CIS, payroll, year-end accounts, tax advice and compliance, bookkeeping and more. Because we work with other construction businesses, we’re always up to date with the latest changes impacting the construction sector. We’ll do more than just keep you compliant, we’ll help you to grow and scale.
What's the construction industry scheme (CIS)
If you’re a contractor or subcontractor in the construction industry the CIS regime is a HMRC programme that applies to you. According to CIS regulations, the contractor is typically required to deduct tax from your payments at a rate of 20% if you are “registered” or 30% if you’re not. Subcontractors with gross payment status have a 0% deduction and we can support you with obtaining gross payment status where relevant. We’re very familiar with the CIS regime, can undertake all subcontractor verifications on your behalf and help you to stay compliant.
What's a contractor?
In short, if you work in the construction industry and pay subcontractors to undertake construction work then you will be considered a contractor for CIS.
Note, the definition of construction work is very widely drawn and even businesses who may not consider themselves to be providing a ‘construction’ activity could be caught by the rules so it’s recommended you speak to a specialist construction accountant who can advise.
What's a subcontractor?
A subcontractor is someone who is engaged by a contractor to undertake construction related work. Their contract is with the contractor, not the end client.
If you are a subcontractor then the contractor is obligated to verify you under the CIS scheme prior to making any payments to you.
Assuming you are registered under the CIS scheme the contractor will normally withhold 20% and pay this to HMRC. If you have obtained gross payment status then no amount will be withheld. If as the subcontractor you have not registered under the scheme then 30% will be withheld as opposed to 20%.
How to register for CIS?
To register for the CIS you’ll need to first consider whether you are a contractor or subcontractor, using the guidance above.
If you are a contractor and not currently registered for PAYE you can complete the process online here: What you must do as a Construction Industry Scheme (CIS) contractor: How to register – GOV.UK (www.gov.uk)
If you are a subcontractor you can register by completing the online form here: Register your company – GOV.UK (www.gov.uk)
As part of registering as a subcontractor you can apply for gross payment status.
Switching accountant is as simple as 1 – 2 – 3.
If you’re interested in working with us then there are just 3 simple steps for you to become a client.
We’ll have a short introductory chat, get to know your business and give you a fixed fee quote.
If you want to go ahead, we do all the legwork and contact your previous accountant for you allowing you to get on and run your business.