Accountants for Construction and Trade

Accountancy Service for Construction & Trade

Construction and trade industries often involve large teams, multiple stakeholders and outside contracts, meaning there are various accounting factors that need careful consideration and due diligence for a streamlined process for bookkeeping, management and tax returns.

Having developed our expertise over 40 years, we have fine-tuned our skills to many small businesses, individuals, and start-ups in the construction and trade industries. We provide a proactive and reliable service for tailor-handling your accounts with precision and transparency.

Contact us today to book your free, no-obligation consultation.

What do construction accountants do?

Construction accountants provide specialised financial, tax, and advisory services to businesses in the construction and trade sectors – whether you are a sole trader or limited company.

As an established business in these industries, you’re required to navigate national regulations and industry standards, as well as cash flows, revenue and compliance with tax schemes like the Construction Industry Scheme (CIS).

1. Tax compliance and planning: We ensure compliance with CIS, from filing monthly returns to advising on gross payment statuses. This also involves managing VAT, particularly for complex rules like reverse charge VAT that applies to construction services. We also develop tax strategies to minimise the risk of liabilities while remaining compliant.
2. Financial reporting: We prepare annual financial statements and management accounts, tracking performance and facilitating project-based reporting that analyses profitability and manages costs for projects.
3. Cash flow and budgeting: We assist with cash flow forecasting, which is essential for construction businesses which have irregular income and high costs upfront. We also track and develop your budgets to facilitate effective resource planning.
4. Payroll and employment guidance: We can handle the payroll for your employees, sub-contractors and freelancers while ensuring compliance with labour laws and tax regulations. We also offer advice on structuring employment contracts, including how to process self-employed workers.
5. Business advice and growth plans: We provide counsel for growth opportunities, funding and investment opportunities, valuations, growth planning and business strategies. Utilising various skillsets, we help clients to evaluate their financial health and to create new strategies and structures.
6. Technology and software integration: We will recommend and utilise accounting and project management software best for your industry, whether it’s Xero cloud accounting or another platform for streamlining accounting processes.

Mollan & Co’s specialised services for construction & trade

• Accounts preparation: We ensure all financial data is put together cohesively, organised, and presented in a transparent format that complies with construction regulations.

• Management accounts: With a focus on balance sheets, budget forecasts and many other financial components, our experts make sure that your reports and statements are prepared for management.

• Bookkeeping: We handle digital data entry, consistent bookkeeping, reporting, and many other factors that save time, cut down on stressful or repetitive tasks, and bring clarity to your company’s financial elements.

• VAT Returns: We keep our finger on the pulse of your Value Added Tax (VAT) returns details from registration to planning ensuring compliance.

• Payroll: We can also streamline your payroll services, ensuring your staff are paid on time and precisely, while cohesively handling the tax factors.

York Accountants for construction and trade companies

Mollan & Co’s accounting services are bespoke and applied to your unique construction or trade business. We use cloud accounting to automate and streamline financial bookkeeping processes and facilitate a transparent and seamless record-keeping process.

Using modern cloud-based storage platforms, we aim to find new strategies and growth opportunities for our construction and trade clients, helping them to expand their operations.

Get in touch with us for an initial consultation. No obligation, just good advice.

Contact Us