Construction and Property

Construction and Property Service

We provide accountancy services to the construction industry, be them main contractor, sub-contractor, tradesmen or speculative developer

Buying, investing, renting or building a property is a complex business and with it comes complex tax issues. Although it is possible to navigate and understand the property and construction tax but if you get that wrong, this can become a minefield.

It is best to seek professional advice. The HM Revenues and Customs (HMRC) is strict about timely payments on property and construction tax. If you fail to pay taxes on time, you will be subject to penalties and fines. There are many tax issues related to property. These include Stamp Duty Land Tax (SDLT), Capital Gains Tax (CGT), VAT for construction and building work and taxes under the Construction Industry Scheme (CIS), rental income tax, to mention a few.

Professional advice and help is essential, when looking at complex issues, such as ownership structures for property investments, commercial property purchases, property finance as well as tax allowances and tax reliefs.

These are all areas specialised property and construction accountants can provide assistance and expertise with. However, professional advice can also be invaluable for less complex property and construction issues. In any case, you must keep thorough and accurate records on a consistent basis.

A professional tax firm can also help you understand the somewhat complex HMRC’s Construction Industry Scheme (CIS). This special scheme relates to contractors and sub-contractors and how to handle payments and tax liabilities. Understanding this scheme properly can help you save money.

In addition to our core services of accountancy, taxation and payroll, We at ‘Flannagans’ also provide you our accounting services for construction & property sector. Where our knowledge and understanding of the construction & property sector allows us to understand your specific requirement based on your business situation. We not only offer advice in areas such as accounts, we also use our sector understanding to help and support our clients in this sector, offering you strategic business advice alongside specialist tax and corporate finance advice to help you achieve your objectives in these challenging economic conditions.

Our focus has always been to help you optimise your performance through advice on all areas of your business.

We offer accounting services;

  • VAT planning and advice
  • Project planning
  • Cash flow planning
  • Payroll services
  • Risk advisory

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