Construction Accountants

Accountants for Construction

The construction sector is unpredictable, so a specialist approach is essential to manage its unique financial requirements. Effective accounting systems help construction business owners keep a clear eye on job costs, control overhead expenses, track upcoming bills and income, and make smart business decisions. Our construction accountants work closely with you to boost profitability by delivering tailored accounting and tax services designed specifically for this sector.

Our construction accounting services

Construction accounting is about much more than just crunching numbers. We provide a full range of accounting services for the construction industry, including:

• Staying up to date with HMRC regulations such as the Construction Industry Scheme (CIS) and VAT reverse charges, ensuring your construction business stays fully compliant with the latest tax rules.

• Preparing detailed financial statements—including annual accounts and balance sheets—monitoring costs and budgets, and working alongside your accounting team to produce accurate financial reports. Our construction accountants give you the financial visibility you need to support your business model.

• Managing project costs with precision. We help you track matching costs, keep budgets on target, and forecast upcoming expenses so project managers can confidently steer building projects to success.

• Keeping cashflow healthy is crucial for construction companies. We provide practical insights to improve your cash flow, helping you meet tax liabilities on time and invest wisely in growth opportunities.

• Recommending and implementing accounting software that links your office and site operations seamlessly, giving you access to real-time data and allowing updates on the go via mobile devices. We have experience working with accounting software providers who specialise in the construction sector.

• Supporting construction businesses of all sizes—from independent subcontractors to national companies—offering consistent expertise and business advice you can rely on.

Our construction accountants bring extensive, deep sector knowledge, making us a trusted partner for all your accounting needs.

Get in touch with one of our expert construction industry accountants today.

What is a construction accountant?

A construction accountant plays a vital role in managing the financial health of construction firms. They oversee the Construction Industry Scheme (CIS) and other regulatory compliance requirements. Construction accounting demands specialist knowledge beyond standard accounting because of the industry’s complexity.

Financial statements

Construction accountants prepare comprehensive financial statements—profit & loss, balance sheets, and cashflow reports—that accurately reflect your company’s financial position. These reports help stakeholders make informed decisions and ensure compliance with industry standards.

Cost monitoring and budgeting

Closely working with project managers, construction accountants track expenses and control budgets to prevent overruns and optimise resource use.

Reporting

Our accountants deliver detailed financial reports covering project profitability, cashflow, and overall performance. Transparency and accuracy empower stakeholders to assess financial health and strategy effectively.

Tax planning and compliance

Sound tax advice is essential in construction. Our construction accountants understand complex tax rules, manage CIS returns, VAT planning, and offer tax advice to reduce liabilities and keep you compliant.

Project profitability analysis

Evaluating project profitability helps ensure sustainable growth. Construction accountants analyse financial data to identify the most profitable building projects, guiding resource allocation and business decisions.

Growth advisory services

Beyond day-to-day financial management, our accountants provide business advice on company formation, capital allowance claims, and financial improvements to support your growth.

Construction accounting blends compliance, financial management, and strategic planning. Our bespoke tax services help construction businesses handle financial complexities while focusing on growth and boosting profitability.

Construction accounting vs standard accounting

Construction accounting differs from standard accounting mainly because it focuses on individual projects rather than just overall company finances. It tracks job costs, revenues, and expenses—including raw materials and labour—on a project-by-project basis.

Key construction accounting methods

1. Accurate Job Costing: Assigning all labour, materials, and overhead costs to specific projects gives you clear insight into financial performance.

2. Percentage of Completion Method: Recognising revenue based on the percentage of work finished provides a realistic financial picture aligned with project progress.

3. Timely Billing: Regular invoicing—monthly or by project phase—helps maintain steady cash flow and meet financial obligations.

4. CIS Compliance: Contractors and subcontractors must follow the Construction Industry Scheme to avoid penalties and ensure correct tax deductions from subcontractor’s payments.

These methods help construction companies stay financially stable, meet accounting needs, and support long-term growth.

What is the Construction Industry Scheme?

The Construction Industry Scheme (CIS) governs how contractors deduct money from subcontractor’s payments to reduce tax evasion. It applies to all construction work, including decoration, repairs, and site preparation.

Our CIS accountants

Our dedicated CIS accountants have in-depth knowledge of CIS regulations. From HMRC registration to maintaining accurate records, we ensure full compliance.

CIS registration

Contractors must register for CIS to deduct the correct tax before paying subcontractors. Subcontractors don’t need to register but face higher deductions if unregistered. Our construction accountants make the registration process smooth and compliant.

Compliance and updates

Staying compliant with CIS is vital to avoid penalties. We keep up with changes, including recent VAT reverse charge rules, so your accounts are always current.

Work in Progress (WIP) management

WIP represents the value of work completed but not yet invoiced. Our construction accountants manage WIP and matching costs precisely, maintaining accurate financial records and optimising cashflow.

Construction accounting best practices

Our construction accountants follow best practices to keep your business financially healthy and compliant, including:

Job costing

Tracking all costs against each job—including raw materials, labour, and overheads—supports accurate budgeting and sound financial decisions.

Timely invoicing

Prompt invoicing keeps cashflow steady, helping your business meet tax obligations and operational expenses.

Percentage of completion

Using this method aligns revenue recognition with project progress, giving a clear financial picture at every stage.

CIS compliance

Following CIS rules ensures correct tax deductions and helps you avoid HMRC penalties.

Specialist construction accountants

Working with chartered accountants specialising in construction provides tailored tax services, financial controls, and business advice specific to your construction business.

Who we help

Our construction accounting services support a wide range of clients—from small businesses and subcontractors to large limited companies, civil engineers, and property developers. We understand the financial needs of the property business and construction industry, offering tailored support to optimise cashflow, manage overhead costs, and boost profitability.

Whether you are starting your company formation or managing established building projects, our construction accountants provide expert guidance on tax digital compliance, making tax digital initiatives, and financial reporting.

Trust our team to deliver the accounting and tax services your construction business needs to thrive.

FAQs

Why do I need construction accountants?

Construction accountants ensure compliance with HMRC, manage tax returns, optimise cashflow, provide business advice, and handle construction-specific accounting complexities.

What do construction accountants do?

They manage financial reporting, tax planning, job costing, CIS deductions, and provide insights to improve business profitability.

What is the percentage of completion method?

An accounting approach recognising revenue and expenses proportionally to project completion, matching income with work done.

Why is CIS compliance important?

It ensures correct tax deductions on subcontractor’s payments, avoiding penalties and maintaining HMRC compliance.

What are the best practices in construction accounting?

Job costing, timely invoicing, percentage of completion, CIS compliance, and working with specialised construction accountants.

Do I need a construction accountant for my company?

Yes, a construction industry accountant provides the expertise needed to navigate financial complexities and support business growth.